HDFC Securities Institutional Equities

Star Cement delivered 5% YoY consolidated volume growth in Q1 FY27, led by higher offtake outside the NER while the NER sales were flat, adds the brokerage.

HDFC Securities believes Indo-MIM is well placed to benefit from global supply-chain diversification, particularly the China+1 manufacturing shift, given its strong presence across India, the US and Europe.

According to the brokerage, India's alcoholic beverages industry is entering a decade of structural transformation, supported by favourable regulatory shifts in key states, strong demographic momentum, accelerating premiumisation and a clear move toward more professional execution.

Following the leadership transition, Godrej Consumer is addressing structural gaps to revive the core portfolio while accelerating momentum in newer initiatives, supported by higher research and development spend and premium innovations from Glab, adds the brokerage.

ITC Infotech is acquiring 22.1% of Happiest Minds, just under the 25% threshold that would trigger a mandatory open offer to public shareholders structured in two tranches under a single agreement.

With meaningful incremental plywood capacity coming onstream, HDFC Securities expects Century to continue outperforming peers and further consolidate its marketleading position.

UltraTech Cement is all set to launch its own wires and cables in Q3 FY27, highlights the brokerage.

Allowing FPIs to participate in physically deliverable commodity contracts such as gold, silver and base metals could unlock the next phase of growth for the exchange, adds the brokerage.

The brokerage's cautious view is underpinned by Colgate's concentrated execution in oral care, a category marked by intense competitive pressure and modest underlying growth.

Among the stocks under coverage, Eureka Forbes offers the highest upside potential at around 45%, followed by Max Financial Services Apollo Hospitals.

Siemens India, Zydus Lifesciences, Manappuram Finance, Kalpataru Projects International, Astra Microwave Products, KEC International, Dilip Buildcon and Greenpanel Industries are in focus after their June-quarter earning.

HDFC Securities remains constructive on Bharat Forge, Info Edge, Oil India, Lemon Tree, Star Cement, PNC Infratech, Kolte-Patil Developers and Gopal Snacks.

GCPL delivered an in-line Q1 performance, with consolidated revenue growth of 19%, supported by 9% underlying volume growth , says the brokerage.

Brokerage remains constructive on LIC, Cummins, Siemens Energy, Aurobindo Pharma and Crompton Consumer, while retaining a cautious stance on Bajaj Electricals.

HDFC Securities noted that the company's focus on high-growth mobility segments has enabled it to maintain industry-leading Ebitda margins of 23-25% while benefiting from operating leverage.

PB Fintech, Multi Commodity Exchange, Berger Paints, Aster DM, Navin Fluorine, PNB Housing Finance, Metro Brands, ASK Automotive and Metropolis Healthcare remained in focus after HDFC Securities reviewed their June-quarter earnings, maintaining a constructive stance on several names while revising target prices for select stocks.

DLF, Marico, Godrej Properties, BSE, Emami, Century Plyboards, Nykaa, Symphony, Motherson Wiring, Kansai Nerolac, NOCIL and Prince Pipes are likely to remain in focus after HDFC Securities reviewed their June-quarter earnings and updated ratings and target prices.

HDFC Securities maintained a constructive view on Persistent Systems, Ather Energy, CDSL, APL Apollo Tubes, Sundaram Finance and Aditya Birla Lifestyle Brands after their Q1 earnings, citing growth visibility, margin resilience and sector-specific tailwinds.

Stocks in focus: Kajaria gets an upgrade, while Sun Pharma, Maruti Suzuki, Bajaj Finserv and Niva Bupa retain positive ratings

Tata Steel, Divi's Labs, Indian Oil, Muthoot Finance, Aditya Birla Capital, Shree Cement, Dixon Tech, Aptus Value Housing Finance and Clean Science are among the stocks in focus after HDFC Securities released its latest post-Q1 FY27 review.