Stock Picks Today: Suzlon, Axis Bank, Godrej Properties, MCX, ITC, Power Grid On Brokerages' Radar

Delhivery Ltd., Federal Bank Ltd., Suzlon Energy Ltd., Axis Bank Ltd., Godrej Properties Ltd., Multi Commodity Exchange of India Ltd., LIC Housing Finance Ltd., ITC Ltd., Adani Power Ltd., Thermax Ltd., Power Grid Corporation of India Ltd., Emami Ltd., and Dr. Reddy's Laboratories Ltd. are among the companies garnering brokerage commentary today.

Analysts have shared their insights and, in several cases, revised their target prices based on their updated fundamental outlooks for these firms, broadly based on the first quarter financials that the players have put out. Here are the key analyst calls to watch out for today:

Morgan Stanley

• Maintained Equal-weight; hiked target price to Rs 423 from Rs 321.

• Q1: Ecom integration and synergies driving upside to earnings.

• Management commentary and volume trends in express parcel should keep optimism high.

• Post-recent outperformance, upside is capped.

• Benefit from synergies largely in the price.

Macquarie

• Maintained Outperform; target price of Rs 460.

• Robust Q1; market-share consolidation opportunity.

• Ecom Express consolidation saw a step change higher, with volume retention higher.

• See upside to consensus' Express Parcel volume growth and PTL margin forecasts.

• Also see upside to company guidance for a 16-18% Service EBITDA margin.

• Do not see any incremental headwind for FY26.

• Addressable opportunity with e-commerce platforms reduced.

• See strong market-share gains along with Ecom Express acquisition.

Morgan Stanley

• Maintained Underweight; cut target price to Rs 165 from Rs 175.

• Q1: Asset quality negatively surprises.

• Slippages and credit costs increased QoQ, largely led by MFI.

• Management expects MFI stress to moderate post 1-2 quarters.

• Doesn’t see any other asset quality challenge.

• Expect RoA to moderate to ~1%.

Morgan Stanley

• Maintained Overweight; target price of Rs 77.

• Regulations: Localization of wind manufacturing.

• Possibility to increase market share for domestic OEMs in interim, while foreign OEMs establish local supply chains.

• Improved level field on pricing, as developers relying on cheaper imports would now source locally.

• Regulations need localization of data centers, control systems/rooms, and R&D for wind turbines.

Morgan Stanley

• Maintained Overweight; target price of Rs 1325.

• Stock trading at 1.3x FY27 core book and 10.2x FY27 core earnings, attractive compared to peers.

• Expect credit costs to moderate materially over next 2-3 quarters and margins to trough in Q2.

• Post Q2, expect all three key drivers to turn positive.

Jefferies

• Maintained Buy; cut target price to Rs 3000 from Rs 3200.

• Q1 results - Soft start, improvement ahead.

• 10% sales growth guidance looks achievable given strong launch pipeline and upfronted project adds.

• Management maintained optimism on demand conditions.

• Operating cash flow and project delivery performance should improve in quarters ahead, as per seasonality.

Morgan Stanley

• Maintained Underweight; target price of Rs 5750.

• Q1: Largely in line.

• Core EBITDA 2% below estimates, due to higher employee expenses and contribution to statutory funds.

• Average daily transaction revenues reduced sharply.

• Underweight rating driven by expensive valuation amid low conviction on sustainability of revenues significantly concentrated in few commodities.

Morgan Stanley

• Maintained Underweight; target price of Rs 480.

• Q1: PPOP in line.

• PAT missed estimate from higher credit costs.

• NIM miss due to lower calculated yields.

• More cuts likely with repo rate cuts.

• Amid asset quality concerns at other NBFCs, LICHF may be defensive, but unlikely to be sustained.

• Structurally weakening franchise, weak FY26 outlook.

Macquarie

• Maintained Outperform; target price of Rs 500.

• Inline Q1; Healthy cigarette volumes; paper weak.

• 6.5% cigarette volume growth and mix improvement partly offsetting leaf tobacco inflation.

• ITC sees signs of urban recovery in FMCG and saw correction in leaf tobacco costs in current crop cycle.

• Continued weakness in paper concerning; demand recovery across cigarettes/ FMCG constructive on growth.

Jefferies

• Maintained Buy; target price of Rs 535.

• Cigarette volume growth accelerated to a multi-quarter high of >6%.

• Volume growth continued to be in excess of many FMCG peers.

• Segment Ebit margins continued to trend down although Ebit was just inline.

• Other segments reported lower than expected Ebit mainly due to margin pressure.

• Overall Ebitda growth muted at 3%, a slight miss to estimates.

Morgan Stanley

• Maintained Overweight; target price of Rs 500.

• Broadly In Line; Improving Trends.

• Cigarettes: Differentiated and premium offerings continue to perform well.

• Paper: affected by subdued realizations, low-priced supplies from global markets and surge in domestic wood prices.

Jefferies

• Maintained Buy; target price of Rs 690.

• Execution on Track.

• Q1 capacity 17.6 GW; plan intact to raise capacity by 1.7x to 30.7 GW by 2030.

• 600 MW Vidarbha acquisition completed in July 2025.

• Close co-ordination with BHEL for equipment delivery and in-house EPC ensuring capex on schedule.

Goldman Sachs

• Maintained Sell; hiked target price to Rs 3210 from Rs 3060.

• Weak quarter; improved outlook factored in.

• Order inflow for quarter grew at 7% YoY due to weak industrial products and chemical.

• Management remained optimistic on orders coming through in FY26.

• See improved profitability as execution of lower margin orders gradually comes to an end.

UBS

• Maintained Sell; target price of Rs 300.

• Capitalization timelines still not impressive.

• Capex momentum evident, but overhang of project delays continues.

• Right of way still a challenge; Work in hand at elevated levels.

• Momentum in TBCB awarding could continue.

Citi

• Maintained Buy; target price of Rs 775.

• Q1FY26 Ahead.

• Positives in terms of strong growth in pain management segment drove profitability.

• Turnaround in Male Grooming, Kesh King, Strategic Investments Key.

Citi

• Maintained Sell; target price of Rs 990.

• Competition Heating up in Canada Semaglutide; Taro Files for Generic.

• Expect More Filings in Coming Months.

• Maintain cautious stance on Canada Semaglutide opportunity for Dr Reddy’s.

• Believe street expectations may need to be tempered.

Kotak

• Disappointments in details in Q1 earnings prints.

• Downshift in earnings continued, but at a slightly slower pace.

• Consumer companies continue to struggle with weak volumes and profitability.

• Banks and IT services reported weak trends in line with expectations.

• Jefferies India Strategy

• Jun'25 Mid-Quarter Review - Not too bad so far.

• On muted expectations, June quarter results season less bad than feared, with 100+ cos reporting.

• Downgrade ratio, though negative, improved QoQ.

• Cement, Autos, and non-lending financials delivered in-line to positive quarters.

• Lender numbers broadly weaker, and most others mixed.

• See good possibility that IT stocks can see a tactical bounce like FMCG.

• Raise IT weight to neutral.

• Earnings trend should improve in Sep-quarter on low base & early festive.