Stock Picks Today: Godrej Consumer, Blue Jet, Campus Activewear, Pine Labs And More On Brokerages' Radar

Brokerages issued fresh views on Godrej Consumer Products, Blue Jet Healthcare, Campus Activewear, alongside commentary on logistics, cement and financial services names.

JPMorgan on Godrej Consumer

• Maintain Overweight with TP of Rs 1,200
• Higher-growth categories seen driving a more durable business construct
• Positive on revenue growth outlook
• Likes management's portfolio transformation strategy focused on faster-growing categories
• Margin and return discipline remains intact
• Valuations seen as attractive

JPMorgan on Blue Jet

• Maintain Underweight; Hike TP to Rs 370 from Rs 330
• Mixed quarter performance
• Revenue and EBITDA missed estimates
• QoQ improvement seen as signalling a trough
• Contrast media business recovery continues
• Management guided for double-digit growth in FY27
• Concentration risks continue to limit conviction

Kotak Securities on Campus Activewear

• Upgrade to Buy from Add; TP at Rs 310
• Reported an all-round beat
• Price hikes taken across portfolio to offset raw material and labour cost inflation
• EPS estimates cut by 2-10% factoring in raw material inflation impact

MS on Pine Labs

• Maintain Equal-weight with TP of Rs 245
• Q4 performance slightly missed consensus estimates
• Delivered strong operating leverage
• Improved conversion of adjusted EBITDA into cash flow
• Management guided for medium-term revenue growth of 21-23.5%

MS on Credit Card Spends – April 2026

• SBI Card's spending market share declined 11 bps MoM to 19.2%
• Market share in cards in force remained flat MoM at ~18.6%
• April spending fell 10.6% MoM for SBI Cards versus industry decline of 10.1%
• SBI Card likely continued gaining traction in corporate spending

Citi on JK Cement

• Maintain Buy; Cut TP to Rs 6,250 from Rs 6,775
• Q4 broadly in line with expectations
• JK Cement continues to deliver strong volume growth
• Positive on medium-term visibility

Jefferies on JK Cement

• Maintain Buy with TP of Rs 6,705
• Industry-leading growth expected to continue
• Volumes rose 14% YoY, among the strongest in the sector
• QoQ EBITDA improvement lagged peers
• New capacity commissioned in Central India along with debottlenecking initiatives
• Next expansion phase planned for FY28
• Industry pricing still slow to fully offset cost pressures

MS on Amara Raja

• Maintain Underweight with TP of Rs 875
• Q4 EBITDA broadly in line with consensus expectations

JPMorgan on Amara Raja

• Maintain Neutral with TP of Rs 855
• Mixed quarter performance
• EBITDA beat estimates, but margins and adjusted PAT missed
• EBITDA margin declined
• Demand outlook and future cost trajectory remain key monitorables
• Expects Street EPS downgrades following the miss

Macquarie on Delhivery

• Maintain Outperform with TP of Rs 570
• Market share gains and margin expansion remain key positives
• Delhivery expected to further consolidate share in third-party ecommerce logistics and part-truckload business
• Scale expected to drive operating leverage
• Estimates 18% revenue CAGR and 41% EBITDA CAGR over FY26-29
• Confidence improved following investor interactions in Singapore and at the Macquarie Asia conference

CLSA on Indus Towers

• Maintain High Conviction Outperform with TP of Rs 580
• Sees upside potential to tenancy additions
• Continued tower and tenancy growth expected
• Vodafone Idea fundraising expected to support tenancy additions
• High free cash flow and reinstated dividend remain positives

MS on AB Fashion

• Maintain Overweight with TP of Rs 127
• Q4 beat led by strong Pantaloons performance
• Pantaloons revenue grew 19% YoY, highest in 12 quarters
• Demand trends remained similar to Q3
• Strategic premiumisation helping Pantaloons performance
• Risks emerging from higher input costs and geopolitical-driven consumer sentiment pressures

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