HDFC Securities has reviewed the Q2 FY27 earnings of five companies — SRF, Havells India, CreditAccess Grameen, Cyient and Mahindra Lifespaces — highlighting their financial performance, growth outlook and key risks. The brokerage maintained its existing ratings on all five stocks while revising target prices for four.
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HDFC Securities Institutional Equities
HDFC Securities has maintained its Add rating on SRF, Havells India and CreditAccess Grameen, while retaining Buy calls on Cyient and Mahindra Lifespaces following their Q2FY27 earnings.
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The brokerage cut SRF's target price to Rs 3,000 from Rs 3,172 and Cyient's to Rs 1,410 from Rs 1,450.
It raised Havells India's target to Rs 1,290 from Rs 1,245 and CreditAccess Grameen's to Rs 1,595 from Rs 1,570, while keeping Mahindra Lifespaces' target unchanged at Rs 612.
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The revised targets imply potential upside of approximately 29% for SRF, 20% for Havells India, 46% for CreditAccess Grameen, 23% for Cyient and 74% for Mahindra Lifespaces, based on the share prices cited in the report.
While the brokerage remains constructive on the companies' medium-term prospects, its assessment highlights a combination of strong revenue growth, improving operating performance and continued margin or execution risks.
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