Stock Picks Today: Axis Bank, Tata Consumer, PB Fintech, Dr Reddy’s And More in Brokerages’ Latest Notes

A host of global and domestic brokerages have released fresh views on Axis Bank, Tata Consumer, PB Fintech, Dr Reddy’s and Urban Company for Thursday's trade.

They have also detailed broader themes spanning India’s quick commerce battleground, market strategy for 2026, travel food services growth and a recovery outlook for agro-chemicals.

Read on to know more:

• Maintain Buy with target price of Rs 2,100

• Management indicated that premium growth will continue to sustain around 30%.

• Despite GST changes, take rates expected to remain stable through riders, protection attachment, duration and mix change.

• Premium growth and operating leverage to drive strong profits and cash flows.

• Hospital network initiative remains in early stages.

• Initiate Sell with target price of Rs 120

• Leading full-stack home services platform with strong India business.

• India operations have large potential to scale further.

• Other segments remain in scale-up phase; balance sheet healthy.

• Models a 17% NTV CAGR for the India consumer services business.

• International business expected to deliver 33% NTV CAGR over FY25–28.

• Adjusted EBITDA CAGR for India business expected at 38% over FY25–28.

• InstaHelp business will require further investment.

• Rising demand for home services in India to be a tailwind.

• Key risks include competitive intensity, circumvention of platform and regulatory changes.

• Maintain Buy with target price of Rs 1,430

• Growth likely to stay ahead of the sector.
  NIMs expected to bottom out in Q3; policy rate cuts could delay recovery.

• Asset quality is stabilising; credit costs can decline further.

• Valuation re-rating possible; remains among top picks.

• Battleground shifting in Quick Commerce

• Blinkit and Swiggy are reducing subsidies and increasing marketing spend.

• Performance marketing pressure intensifying at both platforms.

• Blinkit spending more on marketing after hitting a low in Q1 FY26.

• Swiggy also shifting focus to performance marketing but with more volatile spending trends.

• Maintain Sell with target price of Rs 990

• Queries on Sema not serious; management responded quickly.

• Canada approval could be possible in the first wave.

• Management confident on filing Abatacept by end-CY25.

• Working on cost optimisation though R&D and SG&A may not decline absolutely.

• Non-US business growing in double digits.

• Partnering with China-based players for innovative medicines and biosimilars for global markets

• Maintain Sell with target price of Rs 2,900

• Management reiterated 10–12% revenue growth and 27–28% EBITDA margin guidance for FY26 and medium term.

• Competitive intensity remains high but has moderated as e-commerce players raised prices.

• Near-term focus on organic expansion in existing markets and scaling in Maharashtra.

• Share of SwasthFit expected to continue rising.

• Upgrade to Buy from Hold; cut target price to Rs 5,200 from Rs 5,500

• Worst appears to be behind the company.

• H2 performance expected to improve with better industry dynamics and corn seed opportunities.

• New product launches and better distribution/sourcing to drive margin recovery.

• Attractive valuation supports upgrade.

• Maintain Buy with target price of Rs 1,350

• Well positioned in growth categories and channels.

• Salt business has meaningful headroom via market share gains and premiumisation.

• Multiple initiatives underway in growth segments.

• Near-term margins improving with lower input costs; medium term margin aspiration at 17–20%.

• India 2026: Coming out of hibernation

• Turns more optimistic for 2026 after a cautious stance for 2025.

• Expects outperformance driven by stronger earnings growth, consumer spend recovery and foreign inflows.

• Three themes: AI data-centre spending, manufacturing renaissance, and consumer revival.

• Earnings expectations may moderate in next 1–2 quarters.

• Nifty more likely to end 2026 closer to 30,000 than 20,000.

• India seen as hedge to global AI trend; thawing US-India ties supportive.

Top Picks:
6 Stars (Core): HDFC Bank, TCS, Reliance, M&M, Divis, JSW Steel
6 Hitters (Tactical): Adani Ports, BEL, Shriram Finance, ITC Hotels, Titan, Havells
6 Rising Stars: Tata Communications, MMT, Lemon Tree, L&T Tech, Delhivery, AB Capital

• Corporate earnings set to rebound

• Fiscal and monetary policy support combined with recovering demand to drive growth.

• Forecasts MSCI India earnings to grow 13% and 14% in CY26 and CY27.

• Valuation premium vs EM has narrowed to below long-term average.

• Resolution of US-India trade issues could trigger re-rating.

• India transitioning from ‘Early’ to ‘Mid’ cycle with cyclical gains favouring momentum strategies.

• Raises Nifty base-case target to 30,000 for end-2026.

• Prefers domestic-focused stocks over exporters.

• Premium valuations supported by strong fundamentals, resilient earnings and robust domestic inflows