BPCL, Mankind Pharma, Bank of Maharashtra, APL Apollo Tubes, Supreme Industries, Dalmia Bharat, Kajaria Ceramics, Apollo Micro Systems, Eris Lifesciences, Aditya Birla Real Estate, Aavas Financiers and Mastek were among the stocks reviewed by HDFC Securities following their September-quarter earnings, with the brokerage reiterating positive views on most names and upgrading Kajaria Ceramics to 'Buy'.
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HDFC Securities Instutitional Equities
BPCL, Mankind Pharma, Bank of Maharashtra, APL Apollo Tubes, Supreme Industries, Dalmia Bharat, Kajaria Ceramics, Apollo Micro Systems, Eris Lifesciences, Aditya Birla Real Estate, Aavas Financiers and Mastek were among the stocks reviewed by HDFC Securities following their September-quarter earnings, with the brokerage reiterating positive views on most names and upgrading Kajaria Ceramics to 'Buy'.
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HDFC Securities maintained a Buy rating on BPCL while revising its target price lower to Rs 408 from Rs 430. The brokerage cited refining and petrochemicals growth drivers, though it trimmed earnings estimates amid likely pressure on marketing margins.
For Mankind Pharma, HDFC Securities retained its Add rating and revised the target price to Rs 2,610 from Rs 2,850 after factoring in the latest quarterly performance.
The brokerage reiterated Buy on Bank of Maharashtra and raised its target price to Rs 95 from Rs 90, supported by strong loan growth, margin expansion and improving asset quality.
On APL Apollo Tubes, HDFC Securities maintained its Buy call and increased the target price to Rs 2,450 from Rs 2,350, encouraged by record margins and a stronger value-added product mix.
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Supreme Industries retained an Add rating with an unchanged target price of Rs 4,250, despite the company lowering its volume growth guidance for FY27.
For Dalmia Bharat, the brokerage continued with a Buy recommendation but reduced the target price to Rs 2,030 from Rs 2,110, citing pressure on margins and costs.
A key rating action came in Kajaria Ceramics, where HDFC Securities upgraded the stock to Buy from Add while maintaining its target price at Rs 1,390, backed by strong operational performance and healthy growth visibility.
The brokerage retained an Add rating on Apollo Micro Systems and increased the target price to Rs 460 from Rs 400, reflecting optimism around its order pipeline and earnings growth prospects.
For Eris Lifesciences, HDFC Securities maintained a Buy call while lowering the target price to Rs 1,500 from Rs 1,730 after revising earnings estimates.
The brokerage reiterated Buy on Aditya Birla Real Estate with an unchanged target price of Rs 1,910, citing a robust launch pipeline, GDV additions and a strengthened balance sheet.
Aavas Financiers also retained a Buy rating with an unchanged target price of Rs 1,540, as HDFC Securities sees improving loan growth and operational efficiency.
Lastly, HDFC Securities maintained its Buy recommendation on Mastek with an unchanged target price of Rs 1,920, supported by growth opportunities in the UK business and AI-led transformation initiatives.
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