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HDFC Securities Institutional Equities
Bharat Forge, Info Edge, Lemon Tree Hotels, Gopal Snacks, Kolte-Patil Developers, Oil India, Greenlam Industries, PNC Infratech and Star Cement have drawn fresh brokerage commentary after their Q1FY27 results, with HDFC Securities maintaining Buy ratings on most of the pack despite a mixed earnings season, while remaining cautious on Greenlam Industries.
Among the key picks, Bharat Forge retained its Buy rating with a target price of Rs 2,323. While margins remained under pressure during the June quarter due to higher raw material, manpower and logistics costs, the brokerage expects profitability to improve as the company passes on elevated costs, enhances utilisation in its US operations and benefits from a growing non-auto business mix.
HDFC Securities believes defence, aerospace and semiconductor-related opportunities could drive medium-term growth.
For Info Edge, the brokerage maintained its Buy rating and raised the target price to Rs 1,475 from Rs 1,430. The positive view stems from strong recruitment billings growth driven by AI-led products such as AI-Rex and Talent Pulse.
Growing adoption of AI-powered recruitment tools, combined with improving monetisation at Naukri and 99acres, is expected to support earnings growth and possible valuation re-rating.
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