Stock Picks Today: Hindalco Novelis, Bharti Airtel, LIC, Bharat Forge, And More On Brokerages' Radar

Brokerages have highlighted opportunities across metal, telecom, chemical, insurance, FMCG, auto ancillaries, healthcare, ports, consumer electronics and diagnostics sector issuing fresh calls on Hindalco Novelis, Bharti Airtel, PI Industries, Dabur, LIC, Bharat Forge, Adani Ports and Special Economic Zone, Samvardhana Motherson International, Britannia Industries, Balkrishna Industries, LG Electronics, Tenneco Clean Air India, Uno Minda, Mahindra And Mahindra, Molbio Diagnostics, Entero Healthcare, Gujarat Pipavav, SKF India,  alongside a broader view on India strategy.

Citi on Hindalco – Novelis

• Maintain Neutral; TP at Rs 1,140
• Bay Minette shipments from Q1FY28; tariff impact expected to normalise in FY28
• Targets US$350–400 mn annual cost savings by FY28
• Expects leverage to decline to 4x by FY27-end, aided by insurance recoveries and lower capex.

Jefferies on Hindalco – Novelis

• Maintain Hold; TP at Rs 1,140
• Oswego operations normalised, though weaker customer demand remains a concern
• Korean labour disruptions and softer volumes pose near-term operating risks
• Rising Novelis net debt of US$8.5 bn remains a key financial concern.

HSBC on Hindalco – Novelis

• Maintain Buy; TP at Rs 1,430
• Oswego resumes normal production, reducing operational disruption
• Bay Minette commercial shipments expected from Q1FY28
• Novelis targets positive free cash flow and lower leverage from Q4FY27

Citi on Bharti Airtel

• Maintain Buy; TP at Rs 2,230
• Premiumisation and 4G/5G migration expected to drive ARPU growth
• Postpaid expansion and enterprise business support sustained revenue growth
• Higher subscriber churn and Nxtra data-centre investments remain key monitorables

Citi on PI Industries

• Maintain Sell; cut TP to Rs 1,595 from Rs 2,375
• Pyroxasulfone generic competition likely to sustain pricing and volume pressure
• New business investments expected to weigh on profitability for 2–3 years
• Cuts FY27–29 EBITDA estimates by 29–40% amid weaker margins.

Jefferies on PI Industries

• Maintain Buy; cut TP to Rs 2,070 from Rs 2,910
• CSM exports face persistent pricing pressure and weak volume growth
• Biologicals and new innovator molecules offer medium-term growth opportunities
• Cuts FY27–28 EPS estimates by 40% and 35% amid margin pressure and pharma losses.

ALSO READ | Four Stocks To Buy Today, November 06: ICICI Bank, BSE, Tata Elxsi, Info Edge And More

• 
  Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon
• 
  NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term
• 
  Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani
• 
  'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps
• 
  India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers
• 
  'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax
• 
  Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite
• 
  Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness
• 
  CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE
• 
  Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI

Citi on Samvardhana Motherson

• Maintain Sell; hike TP to Rs 140 from Rs 115
• Yutaka and Nexans acquisitions expected to support earnings growth
• Consumer electronics expansion and aerospace diversification offer new growth avenues
• Weak global vehicle demand, acquisition uncertainty and rising debt remain risks.

Jefferies on Samvardhana Motherson

• Maintain Buy; hike TP to Rs 200 from Rs 190
• Electronics and aerospace expansion, acquisitions and North American CV recovery drive growth
• Expects 25% EPS CAGR through FY29; hikes earnings estimates by 2–5%
• Chinese OEM competition in Europe and rising debt remain key risks

Goldman Sachs on Samvardhana Motherson

• Maintain Neutral; hike TP to Rs 176 from Rs 165
• Yutaka and Nexans acquisitions support revenue growth and synergies
• Margins expected to improve through pricing recovery and cost efficiencies
• Consumer electronics Greenfield 3 ramp-up shifts to Q4FY27–Q1FY28; hikes EPS estimates up to 9%

Goldman Sachs on Uno Minda

• Maintain Buy; hike TP to Rs 1,600 from Rs 1,510
• EV adoption and higher vehicle content drive switches, lighting and casting growth
• Inovance partnership targets electric four-wheeler power electronics production in 2HFY27
• Rs 52–53 bn capex pipeline supports expansion; hikes FY27–29 EPS estimates up to 7%

Jefferies on Uno Minda

• Maintain Buy; hike TP to Rs 1,700 from Rs 1,500
• Capacity expansion across alloy wheels, sunroofs, airbags and EV components drives growth
• Expects 28% EPS CAGR through FY29, with ROE reaching 21–22%
• Hikes FY27–29 EPS estimates by 6–9%; industry slowdown remains key risk.

Citi on Tenneco Clean Air India

• Maintain Buy; hike TP to Rs 680 from Rs 650
• Rs 165 bn order book provides strong revenue visibility through FY30
• CAPT capacity expansion of 12–14% to support higher-margin products
• Weak export orders and commodity inflation could constrain margins

Citi on Astral

• Maintain Buy; cut TP to Rs 1,775 from Rs 1,900
• Targets 10–15% FY27 volume growth, supported by market-share gains
• CPVC backward integration expected to improve FY28 margins and competitiveness
• PVC price volatility and input-cost pressures remain key earnings risks

Citi on Mahindra & Mahindra

• Maintain Buy; hike TP to Rs 4,330 from Rs 4,260
• SUV volumes expected to grow in mid-to-high teens, aided by EVs and launches
• Cuts FY27 tractor growth guidance to flat from 5% amid weak monsoons
• Hikes FY27–29 earnings estimates by 1–3%, despite farm demand and cost pressures.

Goldman Sachs on Mahindra & Mahindra

• Maintain Buy; hike TP to Rs 3,850 from Rs 3,700
• SUV growth expected in mid-to-high teens during 2HFY27
• Cuts FY27 tractor volume guidance to flat from 5% growth
• Lower commodity costs and pricing support margins; hikes FY27–29 EPS by 3–4%.

Jefferies on Mahindra & Mahindra

• Maintain Buy; TP at Rs 4,000
• New SUV and EV launches in 1HCY27 support 12% auto volume CAGR through FY29
• Expects tractor volumes to decline 3% in FY27 and 6% in FY28
• Cuts FY27–29 EPS by 3–4%, but expects 17% core EPS CAGR over FY27–29.

Kotak on Mahindra & Mahindra

• Maintain Buy; hike TP to Rs 4,125 from Rs 4,000
• NU-IQ SUV launches from 1HCY27 expected to drive market-share recovery
• Tractor volumes likely to decline over four quarters amid weak monsoons
• Hikes FY27–29 EBITDA estimates by 3%, supported by SUV demand and LCV recovery.

Citi on Titan

• Maintain Buy; hike TP to Rs 5,875 from Rs 5,700
• Targets sustainable jewellery revenue growth of around 20%
• Higher studded jewellery mix expected to drive margin expansion
• Expects high-teen earnings growth despite slower second-half revenue momentum

Jefferies on Molbio Diagnostics

• Maintain Buy; hike TP to Rs 1,715 from Rs 1,600
• Retains FY27 revenue growth guidance of 25% and EBITDA margin of 24–25%
• Trueamp, Truepoc and Truecyte launches over six months offer new growth avenues
• Expects over 40% PAT CAGR through FY29, supported by exports and product diversification

Jefferies on Dabur

• Maintain Buy; TP at Rs 535
• IGNITE strategy targets core-brand investments, premiumisation and stronger distribution
• Plans to double direct village reach and increase premium revenue share to 23% by FY28
• Targets 1.5x higher cost savings over 18 months; FY31 strategy roadmap awaited

Jefferies on LIC

• Maintain Buy; cut TP to Rs 510 from Rs 530
• New annuity, health and protection products expected to support second-half growth
• Distribution reforms, improving product mix and equity-market recovery support valuations
• Cuts FY28–29 VNB estimates by 3% amid lower yield-curve benefits.

Jefferies on Bharat Forge

• Maintain Buy; cut TP to Rs 2,150 from Rs 2,500
• ATAGS deliveries expected from Q1FY28; defence order book at Rs 110 bn
• Expects 35% export growth in 2HFY27 and 27% EPS CAGR through FY29
• Cuts FY27–29 EPS by 5–12% amid subsidiary weakness and defence delays.

Goldman Sachs on Bharat Forge

• Maintain Neutral; cut TP to Rs 1,850 from Rs 1,950
• ATAGS revenue starts Q1FY28; aerospace orders exceed US$100 mn
• India manufacturing margins could improve 200–250 bps through cost recovery
• European restructuring and new forging capacity support recovery; cuts FY27–29 EPS by 4–6%.

Citi on Bharat Forge

• Maintain Sell; hike TP to Rs 1,270 from Rs 1,210
• Management reiterates 20–25% FY27 India manufacturing revenue growth
• ATAGS defence revenue starts Q1FY28, covering 184 guns over four years
• Overseas losses and expensive valuations remain concerns; cuts FY27–29 earnings by 2–7%.

Kotak on Bharat Forge

• Maintain Sell; TP at Rs 1,500
• US CV recovery, defence execution and aerospace support revenue growth
• ATAGS revenue expected from Q1FY28; defence growth accelerates from FY28
• Cuts FY27 EBITDA estimates by 7%; expensive valuations and execution risks persist.

Jefferies on Adani Ports & SEZ

• Maintain Buy; TP at Rs 2,180
• Evos acquisition adds 6.3 mn cubic metres of European liquid storage capacity
• Higher-value fuels and improved utilisation expected to lift RoCE from 7% to double digits in 2–3 years
• Expects net debt/EBITDA around 2.5x by FY27, with leverage remaining manageable

JMFinancial on Adani Ports & SEZ

• Maintain Buy; TP at Rs 2,065
• Evos acquisition at EUR 2.56 bn more than doubles liquid storage capacity
• Value-added services and sustainable fuels could lift Evos RoCE above 10%
• Expects leverage to normalise to 2.5x by FY27; near-term earnings impact largely neutral

Emkay on Adani Ports & SEZ

• Maintain Buy; TP at Rs 2,200
• Evos acquisition expected to be EPS-accretive, with closure targeted by Q4FY28
• Sustainable fuels, blending and distribution could lift RoCE to double digits by FY30
• Low capex and strong cash conversion support deleveraging and long-term profitability

Nuvama on Adani Ports & SEZ

• Maintain Buy; TP at Rs 2,170
• Evos acquisition expected to contribute immediately to EBITDA after closure
• Higher-value fuels and improved utilisation could lift RoCE from 7% to double digits
• Leverage expected to normalise to 2.5x; near-term EPS dilution remains a risk

Motilal Oswal on Adani Ports & SEZ

• Maintain Buy; TP at Rs 2,170
• Evos acquisition adds 6.3 mn cubic metres of storage capacity across Europe
• Targets double-digit Evos RoCE over 2–3 years through efficiency and utilisation gains
• Expects 17% revenue, 18% EBITDA and 21% PAT CAGR over FY26–28. 

ALSO READ | Diwali Muhurat Picks 2026: Eternal, Titan Among Motilal Oswal's Top 10 Stock Bets For Samvat 2083

Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay

Jefferies on Entero Healthcare

• Maintain Buy; hike TP to Rs 2,100 from Rs 1,800
• Targets 23% FY27 revenue growth, with potential upside from acquisitions
• Expects 20% revenue CAGR and EBITDA margins above 6% over three years
• MedTech expansion, organic growth and working capital efficiency support profitability

Jefferies on Gujarat Pipavav Port

• Maintain Underperform; hike TP to Rs 135 from Rs 131
• Expects 10–15% container volume growth in FY28, supported by transshipment
• Liquid volumes could double by FY29, aided by new jetty and pipeline
• Concession extension beyond September 2028 remains crucial, with revenue-sharing terms a key risk.

Kotak on SKF India

• Maintain Sell; TP revised to Rs 1,300
• Expects 10% revenue CAGR over FY26–29, supported by automotive demand
• EV bearing content, aftermarket gains and industrial localisation support growth
• Margins likely to remain at 13–14%, with commodity costs and product mix limiting recovery

Kotak on Balkrishna Industries

• Maintain Sell; hike TP to Rs 2,200 from Rs 2,125
• India demand remains strong, while US and European OHT outlook stays mixed
• Domestic TBR, PCR and two-wheeler expansion carries execution and margin risks
• Higher rubber and freight costs could keep FY27–28 EBITDA margins below 21%

Jefferies on LG Electronics India

• Maintain Buy; hike TP to Rs 1,950 from Rs 1,895
• Targets mid-teen FY27 sales growth and low-double-digit operating margins
• Sri City plant, premiumisation and exports support capacity-led growth
• Vehicle Solutions entry and new product launches offer additional growth opportunities.

UBS on LG Electronics India

• Maintain Buy; TP at Rs 2,100
• Reiterates mid-teen FY27 revenue growth and early double-digit EBITDA margin guidance
• Vehicle Solutions entry opens opportunities in automotive infotainment and telematics
• Sri City manufacturing, exports and premiumisation support medium-term growth.

Morgan Stanley on India Equity Strategy – Ridham Desai

• Adds HDFC Bank, Tata Consumer, Hyundai Motor India and Godrej Properties to Focus List
• Removes L&T, Varun Beverages, Maruti Suzuki and Prestige Estates
• Maintains Overweight on Financials, Consumer Discretionary and Industrials
• Consumer Discretionary and Industrials carry 300 bps overweight each
• Financials carry 200 bps overweight in sector portfolio
• Maintains Underweight on Materials, Healthcare, Energy and Utilities
• HDFC Bank offers attractive valuations, with improving NIM and mid-teen NII growth potential
• HDFC Bank's strong asset quality and 17.1% CET-1 support balance-sheet resilience
• Tata Consumer expected to deliver 22% earnings CAGR over FY26–29 versus 14% for peers
• Tata Consumer's new businesses, pricing actions and softer tea costs support margins
• Hyundai's three launches over 6–8 months could drive market-share gains
• Hyundai's EBITDA expected to grow 30% in FY28, supported by exports and product mix
• Godrej Properties targets 15–20% presales growth in FY27 and double-digit growth in FY28
• Godrej Properties' earnings expected to grow at 40% CAGR over FY26–29
• Godrej Properties' FY28 free cash flow expected to turn positive, supported by premium projects
• Godrej Properties trades at 10x FY28 P/E versus 23x for the top five covered developers

Citi on Fortis Healthcare

• Maintain Buy; TP at Rs 1,180
• Targets 12,000 beds over 3–5 years from around 6,300 currently
• Suguna acquisition strengthens Bengaluru; Ashok Vihar adds 400+ beds in Delhi NCR
• Brownfield expansion, acquisitions and diagnostics growth support earnings outlook.

HSBC on Bharti Airtel

• Maintain Buy; TP at Rs 2,500
• Premiumisation and rising 4G/5G penetration support further ARPU growth
• Postpaid additions and home broadband expansion strengthen recurring revenues
• Data-centre expansion offers another growth avenue, alongside sustained network investment.

HSBC on Britannia Industries

• Maintain Buy; TP at Rs 5,480
• Bakery, adjacent categories and international operations support growth diversification
• Product innovation and cost efficiencies remain central to profitability improvement
• Palm oil, sugar and other input inflation remain key margin risks

Goldman Sachs on Britannia Industries

• Maintain Neutral; TP not specified in report
• Biscuit demand recovery supports growth, aided by a favourable base
• Palm oil, sugar and crude-linked inflation pressure gross margins
• Cost efficiencies partly offset input inflation, but margin recovery remains uncertain

Goldman Sachs on Emami

• Maintain Buy; TP at Rs 625
• Strategic investments target over Rs 8 bn FY27 revenue
• Axiom Ayurveda, Brillare and digital brands drive portfolio transformation
• Skin care, hair care and healthcare support growth; hikes FY27–29 EPS estimates

Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.