Stock Picks Today: RIL, HDFC Bank, Lupin, Max Health, LG Electronics, Adani Ports on Brokerages' Radar

A slew of brokerages have shared the latest views and insights on Reliance Industries (RIL), HDFC Bank, Lupin, Max Health, LG Electronics, Adani Ports heading into Tuesday's trade.

They have also provided deep dives into the Indian Internet consumer landscape and Global Equity Strategy.

Read on to know more:

• Maintain Buy with target price of Rs 2,300

• Management is confident of sustaining $1 billion US revenue and 24-25% Ebitda margin for FY27 despite incremental competition in top products

• Biosimilars are expected to be the next big growth engine, with complex generics and specialty contribution set to increase to 70% of US sales by FY30

• Targeting 200-300 basis points outperformance versus industry growth in India

• Maintain Outperform with a target price of Rs 1,200

• Clear messaging from the bank indicates good growth traction post the GST rate cuts

• Retained guidance for its loan growth to be faster than the system in FY27

• The bank is well-placed for new ECL norms due to prudent provisioning and contingent provisions

• Believe FY27 loan growth for the system itself could now be 100-200 basis points higher than earlier estimates of 12-12.5%.

• Maintain Overweight; Hike target price to Rs 1,727 from Rs 1,695

• Valuations relative to peers are still attractive, trading at a 15% holding company discount

• Earnings drag from weak refining/petchem through FY24/25 is over; expect earnings growth to be much better

• Current refining strength has the potential to drive upgrades

• Catalysts in 2026—including Jio IPO, tariff increase, new energy commissioning, and more stable retail growth—can be supportive of the stock

• Maintain Buy with target price of Rs 1,460

• Management expects a strong growth trajectory, supported by rising occupancy, improving case mix, and improving profitability at Dwarka and Noida facilities

• Insurance cashless issue is fully resolved with forward tariff corrections

• Recent CGHS price revision provides a structural uplift to ARPOB and margins with full impact seen in FY27

• Three major brownfield projects are commissioning in Q3 with no EBITDA drag

• Initiate Buy with target price of Rs 1,980

• View LG as a strong play on India discretionary given its diversified mix

• Strong moats include market leadership, premium brand recall, entrenched distribution, and backward integration, resulting in industry-leading margins and high return ratios

• Despite strong fundamentals, LG trades at 43x FY27e, 10-15% below peers Havells and Blue Star

• Low FY26e base effect can benefit FY27

• Initiate Buy with target price of Rs 1,773

• Industry leader and Gateway to India's trade, scaling to one billion tons

• Integrated "port to customer gate" business model with aggressive expansion plans and improving financial discipline.

• Expect consolidated revenue/ EBITDA/ PAT to grow at a CAGR of 15.3%/14%/16.1% till FY28.

• Maintain Hold; Cut target price to Rs 400 from Rs 466

• JLR downside risks (US tariffs, ageing portfolio, luxury tax in China, cyber-attack, EU demand weakness) outweigh upside potential for India PV

• Positively, PV business should benefit from the launch of Sierra and the expected PLI benefit on Nexon EV and Harrier EV in Q3 and Q4

• JLR recovery in the near to medium term looks unlikely

• Astal & Supreme Industries: Maintain Overweight (Target price cut to Rs 1,700 and Rs 4,200 respectively)

• PVC risk impacting stocks, but risk/reward is favorable post recent correction

• See sustained market share gains, industry demand recovering in H2, and some pricing support

• Continue to prefer ASTRA over Supreme.

• India’s case for 2026 is materialising, but mostly as a refuge from AI (more ‘stick’ than ‘carrot’)

• The market has undergone a 14-month adjustment process, cleansing EPS forecasts and resetting to a weaker rupee, forming a base for potential reengagement in 2026

• Regression model for Indian equities signals 16% upside by end-2026

• Top 15 names include RIL, ICICI Bank, SBI, Infosys, and Tata Motors

Travel: Survey suggests continued elevated travel intentions; MMT remains the platform of choice.

Food Delivery & Quick Commerce (QC): Blinkit is the preferred QC platform (31% primary app), ahead of Swiggy Instamart (19%). In food delivery, Swiggy (33%) leads Zomato (29%).

Online Fashion: Myntra is the choice of 57% of users for fashion; Nykaa Fashion is strengthening as the No. 2 platform.

Fintech: Google Pay (45%) and PhonePe (33%) are the preferred payments apps. For online insurance, 31% prefer insurer websites over platforms like PolicyBazaar (26%).