Stock Picks Today: HAL, Dr Reddy's, JSW Energy, Trent, HDB Financial And More On Brokerages' Radar

Brokerages rolled out fresh calls on Hindustan Aeronautics, Dr Reddy's, JSW Energy, Trent and HDB Financial, while also flagging trends across cement, renewables, aluminium and NBFCs amid cost pressures and demand recovery hopes.

Jefferies on Cement Sector

• Cost pressures intensifying with Rs 450–500/tonne impact from fuel and packaging
• Price hikes of ~Rs 25/bag underway to offset inflation
• Demand remains strong in South India, led by Andhra Pradesh and Telangana
• Double-digit demand growth expected
• Labour shortages not a major concern

Jefferies on Renewable Energy

• Power demand recovery to aid solar and renewable players
• India's renewable capacity expected to reach ~359 GW by FY25–30
• FY27 power demand growth seen at ~6%, with El-Nino adding upside
• Government push via DCR schemes driving solar demand
• Top picks: JSW Energy, NTPC
• Preferred PV players: Premier Energies, Emmvee

Citi on Hindustan Aeronautics

• Maintain Buy with TP of Rs 5,560
• F414 engine developments improve medium-term visibility
• Strengthens outlook for Tejas Mk2 orders
• Likely participation in AMCA programme enhances long-term growth pipeline

BofA on Dr Reddy's Laboratories

• Maintain Buy; Hike TP to Rs 1,540
• Diversified earnings drivers beyond semaglutide underestimated
• Not fully insulated from geopolitical risks
• Cost controls likely to keep margins above 20%
• Seen as a relatively defensive play

Jefferies on HDB Financial

• Maintain Buy; Cut TP to Rs 845
• Q4 profit beat; margins and provisions surprised positively
• AUM growth moderated to 11%, but disbursements improved
• NIMs benefited from lower cost of funds
• Asset quality trends improving
• No major impact from Middle East conflict seen yet
• Expect ~22% EPS CAGR and ROE expansion to 15%+ by FY28

Morgan Stanley on HDB Financial

• Maintain Equal-weight with TP of Rs 720
• Q4 showed improving asset quality with lower bad loan formation
• Early signs of a virtuous cycle emerging
• Remain cautious due to macro risks including conflict, inflation and weather

Macquarie on Aurobindo Pharma

• Maintain Underperform with TP of Rs 1,050
• Biologics CMO pipeline expanding
• Contract wins validate capabilities
• However, meaningful earnings contribution likely only in 3–4 years

Macquarie on ICICI Lombard

• Maintain Outperform with TP of Rs 2,350
• Focus on profitability over growth
• Willing to sacrifice market share in select segments
• IFRS transition and regulatory changes seen as positives

Kotak Securities on Aluminium

• Aluminium prices expected to remain elevated
• Supply disruptions outweigh demand risks
• Global capacity constraints to support pricing
• Upgrade NALCO and Hindalco to Reduce; Vedanta remains top Buy
• HSBC on Trent
• Maintain Buy; Cut TP to Rs 4,800
• Strong visibility on store expansion, especially Zudio
• Target of 200 store additions achieved in FY26
• Expect ~18–20% growth trajectory
• Like-for-like growth seen at ~4% in FY27
• Top-line growth remains key stock trigger

Jefferies India Strategy

• Domestic equity flows nearing $10 billion/month
• SIP flows up 19% YoY in Q1CY26 despite muted returns
• Strong mutual fund and pension inflows supporting markets
• Promoters increasing stake amid correction
• Flows remain a key support despite relatively rich valuations

UBS on Dabur

• Upgrade to Neutral from Sell; Cut TP to Rs 490
• Valuation appears to have bottomed
• Early signs of domestic demand recovery
• Sustained execution needed for re-rating

HSBC on Nuvoco Vistas

• Maintain Buy with TP of Rs 420
• Price hikes of Rs 10–12/bag (trade) and Rs 20 (non-trade) underway
• Strong FY26 performance
• Viewed as a proxy for Eastern India demand recovery
• Sustainability of price hikes remains key monitorable

ALSO READ: Five Stocks To Buy Today: Eternal, Power Grid, Vedanta And More | April 16, 2026

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.