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HDFC Securities Report
HDFC Securities, in its latest Q4 FY26 results review, has shared a mixed outlook across a wide set of stocks including Bajaj Auto, Here MotoCorp, PB Fintech, Shree Cements, Kansai Nerolac, Shoppers Stop, Birlasoft with clear stock-specific calls spanning Buy, Add and Reduce ratings along with revised target prices.
View and Valuation
The brokerage remains bullish on Bajaj Auto, maintaining a Buy rating with a target price of Rs 11,776, driven by steady margins, export growth and EV traction.
Hero MotoCorp also carries a Buy rating with TP Rs 6,657, with the brokerage highlighting potential upside from new management initiatives and diversification into EVs and global markets.
Among new-age and digital plays, PB Fintech continues to remain a preferred pick with a Buy rating and TP Rs 2,180, backed by strong growth in the Policybazaar business and improving profitability.
Birlasoft has also been assigned a Buy rating with a target price of Rs 415, as margin resilience and investments in AI-led growth are expected to drive recovery ahead.
HDFC Securities has maintained an ‘ddD' rating on Shree Cement with a target price of Rs 27,000, citing improving volume growth but some pressure from higher input and freight costs.
The brokerage has taken a cautious stance on Kansai Nerolac, maintaining a ‘Reduce' rating with TP Rs 220, as margin outlook remains vulnerable to input cost volatility despite recent improvements.
Similarly, Shoppers Stop has been assigned a ‘Reduce' rating with a target price of Rs 350, with concerns around profitability, margin pressure and losses in new ventures.
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