Stock Picks Today: Bullish On LG Electronics India, Lenskart, GMR Airports, IndiGo On Brokerage Radar

Brokerages remained positive on consumer, aviation, airports and metals plays, while also flagging opportunities emerging from AI, utilities and inflation trends.

Citi On LG Electronics India

• Initiates coverage with Buy rating; TP Rs 1,800
• Dominant market share across washing machines, refrigerators, TVs and air conditioners
• 85%+ localized manufacturing and strong parent-backed R&D capabilities
• Low appliance penetration offers long-term growth runway
• Models 12% revenue CAGR and 23% PAT CAGR over FY26-29

UBS On Lenskart

• Initiate Buy; TP Rs 730
• Industry disruptor offering comparable quality products at nearly half the price of peers
• India business nearly six times larger than Titan's eyewear division
• Gross margins of 69% and EBITDA margins expected to expand further with scale
• Forecast EPS CAGR of 44% over FY26-31

Jefferies On IndiGo

• Maintain Buy; TP Rs 5,380
• Management reiterates focus on pricing discipline amid cost inflation
• International expansion remains a key growth lever
• Fleet expansion and new routes expected to support growth
• Increasing forex hedging to manage volatility

Jefferies On GMR Airports

• Maintain Buy; TP Rs 125
• Aero, non-aero and real estate businesses provide three growth engines
• Delhi airport's hub ambitions and rising transfer traffic support growth
• Capex moderating while free cash flow turns positive
• Land monetisation offers additional upside

Macquarie On GMR Airports

• Initiate Outperform; TP Rs 125
• India's gateway airports positioned to benefit from premium travel demand
• Retail, duty-free and passenger monetisation remain key earnings drivers
• Large landbank provides long-term commercial development opportunity

Macquarie On Phoenix Mills

• Maintain Outperform; TP Rs 2,100
• India's largest pure-play premium mall operator
• Growth supported by 50% expansion in mall space by FY30
• Office portfolio and hospitality expansion add to long-term visibility
• Strong play on premium urban consumption

JPMorgan On Swiggy

• Maintain Overweight; prefers Eternal over Swiggy
• Toing platform gaining traction among price-sensitive consumers
• Toing daily active users have reached levels comparable to Swiggy and Zomato within four months
• No visible churn in core Swiggy and Zomato user bases yet
• Risk of cannibalisation remains due to lower pricing and zero platform fees

MS On Meesho

• Maintain Equal-weight; TP Rs 190
• Acquisition of Kirana Club expands presence in B2B commerce
• Could strengthen grocery capabilities and merchant ecosystem
• Near-term financial impact expected to be negligible

UBS On Metals

• Hindalco: Initiate Buy; TP Rs 1,325
• NALCO: Initiate Buy; TP Rs 460
• Coal India: Initiate Buy; TP Rs 550
• Jindal Steel: Initiate Neutral; TP Rs 1,300
• Tata Steel: Initiate Neutral; TP Rs 220
• JSW Steel: Initiate Neutral; TP Rs 1,400
• SAIL: Initiate Sell; TP Rs 170
• NMDC: Initiate Sell; TP Rs 80
• Aluminium remains the preferred sub-segment due to favourable macro trends and operating leverage

CLSA On India Cement

• Sector corrected 8-12% over the past three months
• Trading at 1.5 standard deviations below historical median EV/t
• Rising petcoke, packaging and freight costs remain headwinds
• Top picks: UltraTech Cement, Dalmia Bharat and Shree Cement

CLSA On India IT

• AI is reshaping hiring requirements across the sector
• IT Services Jobspeak Index fell 7.3% YoY in May
• BPO industry faces higher AI disruption risk
• Prefers firms with stronger AI positioning and execution capabilities

Jefferies On India Financials

• RBI expected to issue FAQ on leveraging FCNR-B deposits
• Could boost dollar inflows into domestic banks
• Select banks have already raised FCNR-B rates significantly

Jefferies On India Utilities

• Renewable energy tendering slowed in FY26
• Power demand recovery remains structurally intact
• Preferred picks: JSW Energy, Adani Energy Solutions and NTPC

Macquarie On India Restaurants

• Dine-in demand improving after Q4
• Delivery aggregators continue gaining market share
• Margins remain under pressure from food inflation
• Prefers Devyani International, Sapphire Foods and Westlife Foodworld

JPMorgan On LIC Housing Finance

• Maintain Neutral; TP raised to Rs 590 from Rs 500
• Loan growth guidance of 10-12% appears ambitious
• Increased use of third-party sourcing channels may pressure profitability
• Competition likely to weigh on yields

Nomura On Nestle India

• Maintain Buy; TP Rs 1,500
• Company clarified Maggi complaint originated from an unverified social media account
• Independent testing reportedly found no infestation in the batch
• Quality documentation submitted to FSSAI

UBS On Nestlé

• Maintain Neutral; TP CHF 80
• Notes Nestlé India contributes about 2.2% of global sales
• Recalls 2015 Maggi episode impacted group growth and margins
• Monitoring developments following FSSAI notice

Citi On LG Electronics India

• Structural growth story backed by localisation, manufacturing and market leadership
• Sri City facility to support future capacity expansion

Goldman Sachs On India CPI

• Headline inflation rose to 3.9% YoY
• Core inflation increased due to higher fuel and goods prices
• June CPI tracking around 4.4% YoY

JPMorgan On India CPI

• May CPI broadly in line at 3.9% YoY
• Food inflation accelerated to 4.5%
• June inflation expected in the 4.4-4.6% range

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