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HDFC Securities Institutional Equities
Brokerage firm HDFC Securities has shared a mixed to constructive outlook on a clutch of stocks including Maruti Suzuki, Phoenix Mills, Dalmia Bharat, Go Digit General Insurance, Bandhan Bank, Motherson Sumi Wiring India and Mahindra Lifespaces, following their Q4FY26 results.
Maruti Suzuki
Maruti Suzuki delivered Q4 FY26 Ebitda margins of 11.7%, largely in line with estimates. The brokerage expects near-term support from capacity expansion, a healthy booking backlog and lower channel inventory. Growth in FY27 is likely to be aided by new launches such as e‑Vitara and Victoris, though partly offset by the discontinuation of Ignis. HDFC Securities expects selective price hikes to counter raw material and logistics cost pressures and has maintained a Buy rating with a target price of Rs 18,015.
Phoenix Mills
Phoenix Mills reported Q4 FY26 revenue, Ebitda and adjusted profit after tax of Rs 12.3 billion, Rs 750 crore and Rs 410 crore, respectively.
While revenues and Ebitda were marginally below estimates, profit beat expectations. The brokerage remains positive on the company's medium-term outlook, citing strong consumption trends, upcoming retail asset completions and steady office leasing. Phoenix Mills has retained its Buy rating with a target price of Rs 1,952, supported by expected rental upside as a significant portion of leases come up for renewal over the next three years.
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