Stock Picks Today: Ashok Leyland, Anupam Rasayan, BPCL, Vodafone Idea On Brokerages' Radar

Ashok Leyland Ltd., Bharat Petroleum Corporation Ltd., Aditya Birla Fashion and Retail Ltd., Mahindra & Mahindra Ltd., and Vodafone Idea Ltd. are among the companies with brokerage commentary today.

Analysts have shared their insights, revised their target prices based on their updated fundamental outlook for these firms, broadly based on the first-quarter financial results.

Here are the key analyst calls to watch out for today:

BofA

• Upgrade gives sentiment boost but market impact may be limited

• Tariff uncertainty still weighs on growth outlook

• Fiscal and monetary support may be needed if tariffs impact growth

Kotak Securities 

• Upgrade driven by fiscal consolidation and strong growth

• Fiscal factors remain weakest; upgrade supported by supplemental adjustments

• Future upgrades depend on continued fiscal prudence, possibly closer to decade’s end

Morgan Stanley

• Upgrade positive for macro; likely to attract capital flows

• Should improve cost of capital outlook

Citi

• Earlier-than-expected upgrade reflects strong fiscal commitment

• Market to watch if fiscal consolidation continues or loosens to support growth

• One-agency upgrade may not lift debt inflows immediately but should improve investor sentiment

 UBS

• Upgrade lifts India one step above lowest investment grade

• Benefits SOEs and may extend to most Indian banks

• Private company upgrades to remain limited to those capped by sovereign rating

• Boosts medium-term confidence in Indian credit

JPMorgan 

• Upgrade seen as unambiguously positive

• Expected to lower risk premia and borrowing costs

• S&P believes potential 50% tariff would not significantly hurt India’s growth

• Nifty near pivotal support zone at 24,000–24,043

• Holding above this range supports further upside

• India equities underperforming broader EM and China

• India ETF vs China ETF ratio broken down; 8–13% downside potential

• External factors like China’s recovery and EM flows remain key

• Stability depends on holding the 24,000–24,043 level

• Trump policies driving China, Russia, India, Brazil closer

• India singled out over tariffs, though China imports more Russian oil without similar punishment

• A 50% US tariff would not alter bullish India view

• India remains the strongest long-term structural story in Asia

Jefferies

• Maintained Hold rating; raised price target to Rs 120 from Rs 115

• Demand subdued but margins healthy

• Profitability focus appreciated, but valuation at 5.5x FY26 PB limits upside unless truck demand improves

BofA

• Maintained Buy rating with price target of Rs 146

• Margins resilient; truck cycle fundamentals improving

• Early signs of recovery in truck demand visible

• Finance arm gets RBI approval, a step towards listing

Jefferies on BPCL

• Maintained Buy rating; raised price target to Rs 410 from Rs 370

• Government compensation for LPG losses should support earnings and reduce net debt

• Earnings outlook positive on range-bound crude given OPEC supply discipline

• Valuation most attractive among peers; remains preferred OMC pick

Jefferies on Anupam Rasayan

• Maintained Underperform rating; raised price target to Rs 625 from Rs 520

• Q1 results strong, but valuations stretched

• Agchem recovery continues; traction building in new pharma molecules

• Management guides for 30% FY26 growth driven by exports and pharma/polymer strength

• Execution expected to improve working capital from Q2

Jefferies on Aditya Birla Fashion

• Maintained Buy rating with price target of Rs 100

• Better ethnic wear performance offset weak Pantaloons sales

• Capital raise in TMRW expected to reduce equity support needs from ABFRL

• Pantaloons subdued, partly due to Eid timing shift

• Management expects stronger festive season and H2FY26 growth, alongside margin improvement

Morgan Stanley on Tata Chemicals

• Maintained Overweight rating with price target of Rs 1,127

• MD roadshow in Singapore and Hong Kong: sees balanced market outside China despite weaker demand in US and Europe

• Pricing seen bottoming out

• Focus on deleveraging over major new investments; exploring low-capex portfolio options

• Aspiration to double profitability within five years

Citi on Shriram Finance

• Maintained Buy rating with price target of Rs 750

• Truck rentals flat month-on-month, up 3–10% year-on-year across key routes

• Tractor demand up 14–15% MoM on strong monsoon and Kharif sowing

• Passenger car sales up 7% MoM after three months of decline

• Two-wheeler sales fell 6–7% MoM and YoY

• Fuel sales and toll collections dropped MoM due to rains; e-way bills down 3–4% MoM but up 10–13% YoY in June

Nomura on M&M

• Maintained Buy rating with price target of Rs 3,736

• Launched Vision 2027 and NU_IQ platform, marking a shift in design and technology

• Believes new platform strengthens brand identity and competitive edge

• Expects M&M to outperform peers; remains top sector pick

UBS on Vodafone Idea

• Maintained Neutral rating with price target of Rs 8.5

• Q1 FY26 broadly in line; market share loss slowed but continues

• Net loss higher than forecast due to elevated interest charges