Stock Picks Today: Groww, Physicswallah, Asian Paints, UltraTech, And More On Brokerages' Radar

Brokerage firms have rolled out fresh views across hospitals, asset maanagement, real estate and more. Financials remain in focus, while IT continues to face growth challenges.

UBS on Groww (Billionbrains Garage Ventures Ltd. CMP: Rs 197.40)

• Maintain Neutral; Hike TP to Rs 210 from Rs 185
• Q4FY26 Results - Beat in key metrics
• Strong growth driven by operating leverage and market share gains
• Product metrics remain strong; Wealth platform adds optionality
• Margin outlook balanced; cost discipline offsets growth investments

 Jefferies on Groww

• Maintain Buy; Hike TP to Rs 225 from Rs 210
• Q4: Beat Led By New Initiatives; More Left In The Tank
• PAT beat of 6% was led by higher commodity and MTF revenue.
• Groww has shown more resilience, greater ability to cross-sell and better profitability relative to peer.

Citi on Groww

• Maintain Buy; Hike TP to Rs 230 from 225
• Q4 steady; execution of wealth/product diversification strategy monitorable.
• Beneficiary of ongoing equity market volatility leading to elevated volumes.
• Groww's management tends to focus on a product centric approach to drive long-term business leadership.
• Remain constructive on Groww's ability to drive paradigm shift, in customer purchase journeys for non-payment non-broking financial products.

 HSBC on Godrej Properties Ltd. (CMP: Rs 1,755)

• Maintain Buy with TP of Rs 2,800
• Management is looking to grow pre-sales by 20% in FY27
• Last few years form the bedrock of this growth
• Expects to turn free cash flow positive and is evaluating a dividend payout in FY27
• Expects to deliver 20% ROE in FY28.

HSBC on Hospitals

• Expect Q4FY26 to be a steady quarter helped by pick-up in elective procedures
• Focus remains on capex projects and the impact of new unit drag on margins
• Expect Apollo to sustain healthy trends; prefer Buy-rated Apollo Hospitals
• Apollo Hospital – Maintain Buy; Hike TP to Rs 9,000 from Rs 8,750.
• Max Health – Maintain Buy with TP of Rs 1,125.
• Aster DM – Maintain Buy; Hike TP to Rs 755 from Rs 635.
• KIMS – Maintain Buy; Hike TP to Rs 780 from Rs 750.
• Rainbow – Maintain Buy with TP of Rs 1,400.
• Global Health – Maintain Hold; Hike TP to Rs 1,120 from Rs 1,100.
• Narayana Hrudayalaya – Maintain Reduce; Hike TP to Rs 1,630 from Rs 1,620.

HSBC on Embassy Office Parks REIT (CMP: Rs 430.03)

• Maintain Buy with TP of Rs 490
• Management expects 50% organic growth by FY30
• Driven by strong leasing momentum and new developments
• Upcoming favourable land regulations changes and potential acquisition opportunities provide visibility to long-term growth. 

JPMorgan on Physicswallah Ltd. (CMP: Rs 106.35)

• Initiate Overweight with TP of Rs 125.
• Attractive online education player with offline option value.
• Enjoys a large addressable market.
• Disruptive pricing model helps gain share.
• Online business is the profitable core that enjoys attractive growth and margins.
• School foray will be cautious and provide further optionality.

Macquarie on EMS Ltd. (CMP: Rs 371.10)

• Q4: Spotlight on FY27 guidance and organic growth
• Checks indicate no headwinds for ESDM companies due to West Asia conflict as yet
• Expect conservative guidance; focus will be on organic growth
• Reducing estimates for Dixon, Kaynes, Amber, but this is expected
• Favour Amber>Dixon>Kaynes into print, and Syrma SGS/Avalon on pull-back. 

CLSA Price Action – Laurence Balanco

• Indian Mid caps buy signals
• Approaching resistance at 60,925–61,393
• A close above this zone would represent a major bullish breakout, implying an upside target of 77,687–78,000.
• Relative to the Nifty, the NSE Mid‑Cap Index has already broken out of its June 2025–April 2026 range to register a new all‑time high.
• Highlight five mid-cap buy candidates: BSE, MCX, Apollo Tubes, Dixon and Aurobindo Pharma.

Macquarie on Asian Paints Ltd. (CMP: Rs 2,510)

• Maintain Outperform with TP of Rs 2900.
• Second price-hike round takes cumulative hikes to 12% levels.
• Last round of 6-8% price hike was replicated by peers including Grasim.
• Believe concerns that new competition will structurally hurt the margin profile of the industry have limited ground.
• Believe this second round of price hikes will also be replicated by the peers.
• Price hikes reaffirm our belief that the sector will look to offset input cost pressures through price hikes.
• Any margin headwinds linked to input cost inflation are more near term in nature.

Jefferies on UltraTech Cement Ltd. (CMP: Rs 11,860)

• Maintain Buy with TP of Rs 14,025
• Crossed 200 MTPA capacity, becoming the largest cement producer outside China.
• Its 4-decade journey blends steady organic growth with well-executed M&A.
• Runs at structurally higher capacity utilisation than industry.
• Has touched 30% volume market share, and delivers industry-leading unit EBITDA, with scale cushioning cyclicality.
• Valuations look rich vs global peers.
• UltraTech remains one of the cleanest large-cap proxies on India's long-term infrastructure compounding.

MS on PNB Housing Finance Ltd. (CMP: Rs 906.60)

• Maintain Overweight with TP of Rs 1,160.
• Solid execution should comfort investors.
• Recoveries (retail and corporate) drove PAT beat of 17%
• Disbursements of Rs 9350 cr beat estimates by 15%
• Retail loan growth was 16% YoY.
• Valuation is inexpensive.

Citi on Anthem BioSciences Ltd. (CMP: Rs 721.80)

• Initiate Buy with TP of Rs 870
• Poised for Accelerated Growth in CRDMO Segment
• Differentiated and integrated multi-modality platform
• Strong growth visibility over FY27-28
• Solid growth in commercial molecules.

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