Stock Picks Today: Bullish On Meesho, Max Financial, PhysicsWallah, NALCO On Brokerage Radar

Several brokerages initiated coverage and reiterated positive views on companies across e-commerce, insurance, education technology, metals and aviation sectors.

Jefferies On Meesho

• Initiate Buy; TP Rs 225
• Building a scale-led value commerce platform anchored in affordability, discovery and logistics efficiency
• Loyal user base and deep MSME supplier network driving a strong growth flywheel
• Growth-led strategy to keep monetisation back-ended with take rates expanding over time
• Forecast 25% NMV CAGR and c3% adjusted EBITDA margin by FY30
• Net cash balance sheet and negative working capital support capital-efficient growth

HSBC On Max Financial Services

• Initiate Buy; TP Rs 2,120
• Axis Max Life among the fastest-growing life insurers in India
• Distribution and product diversification to drive sustainable growth
• Stable margins and predictable earnings outlook
• Sustained operating performance and merger progress key catalysts

DAM Capital On PhysicsWallah

• Initiate Buy; TP Rs 140
• One of the few Indian ed-tech companies to achieve scale without sacrificing profitability
• Expect 24% revenue CAGR and 71% EBITDA CAGR over FY26-28
• Online category expansion and maturing offline centres to drive growth
• Benefits from operating leverage through centralised content and faculty infrastructure

JPMorgan On Colgate-Palmolive

• Maintain Neutral; TP Rs 2,250
• Premiumisation remains the key growth driver
• Positive FY27 outlook supported by balanced volume and pricing growth
• Oral care category expected to remain resilient amid inflationary pressures
• Higher brand investments likely to keep EBITDA margin expansion capped

JPMorgan On Aegis Logistics

• Maintain Overweight; TP raised to Rs 1,150 from Rs 1,010
• LPG supply shortfall easing and expected to normalise by Q2FY27
• EBITDA per tonne of Rs 7,000 seen sustainable through FY27-28
• Diversified sourcing reducing Middle East dependence
• Raise FY27-28 EPS estimates by 14-18%

HSBC On NALCO

• Maintain Buy; TP Rs 480
• Guinea's bauxite export restrictions boosting alumina and bauxite prices
• Domestic aluminium premiums reset higher
• Domestic aluminium prices estimated to be up 17%
• Attractive valuation at 5.1x EV/EBITDA

Jefferies On Metals

• JSW Steel remains top sector pick
• Historical trends suggest stronger returns despite elevated valuation multiples
• FY27-28 earnings estimates for JSW Steel and Tata Steel remain above Street expectations
• Multiple expansion typically precedes earnings upgrades

Jefferies On Pharma CDMOs

• WuXi AppTec restrictions create opportunity for Indian CRDMOs
• China+1 opportunity estimated at $700 million annually
• Top picks: Sai Life Sciences and Divi's Laboratories
• Strong small-molecule and peptide capabilities key beneficiaries

Macquarie On Pharma CDMOs

• Divi's Labs: Outperform; TP Rs 7,500
• Cohance: Outperform; TP Rs 1,150
• Syngene: Outperform; TP Rs 835
• Supply-chain diversification could accelerate growth for Indian CDMOs
• Indian CDMO market could double in the medium term

Nuvama On IndiGo

• Retain Buy; TP raised to Rs 5,335 from Rs 5,054
• Indian aviation passenger traffic expected to double by FY35
• International business remains key growth driver
• Order book of 901 aircraft provides long-term visibility
• Well-positioned to benefit through industry downcycles

Kotak Institutional Equities On Quick Commerce

• Retain Buy on Eternal; Fair Value Rs 385
• Top three players ended FY26 with 4,525 stores and quarterly NMV of Rs 277 billion
• Competitive intensity remains elevated
• Blinkit growth expected to revive in the near term
• Market leaders showing improved discipline

Macquarie On Lenskart

• Maintain Outperform; TP Rs 600
• Domestic growth momentum remains strong
• International business scaling faster than India at a similar stage
• Expect EBITDA CAGR of over 35% during FY26-29
• EPS expected to triple over the same period

CLSA On SBI

• Maintain Outperform; TP Rs 1,275
• Stronger priority-sector lending compliance and retail deposit growth key positives
• Salary account franchise crossed 20 million accounts
• Ongoing operational transformation to improve efficiency
• Lower RIDF drag supportive of NIM outlook

ALSO READ: Five Stocks To Buy: Dixon Tech, Belrise Industries, Marksans Pharma And More | June 10, 2026

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