Stock Picks Today: Hyundai, Pine Labs, ONGC, IndusInd Bank, Sun Pharma And More On Brokerages' Radar

Brokerages shared fresh views on Hyundai Motor India, Pine Labs, Oil and Natural Gas Corporation, IndusInd Bank and Sun Pharmaceutical Industries, while strategy notes highlighted trends in real estate, infrastructure and midcaps.

JPMorgan on Hyundai

• Maintain Overweight with TP of Rs 2,135
• Domestic demand expected to remain strong in the near term
• Multiple export growth drivers seen over near and medium term
• Hyundai aims for EV mix to be at least in line with or above industry levels
• Multiple levers available to protect margins
• Capex to support new model launches and capacity expansion
• Hybrids expected to take longer to become mainstream

Jefferies on Entero Health

• Maintain Buy; Hike TP to Rs 1,500 from Rs 1,350
• Mixed quarter performance
• Management guided for 23% organic growth in FY27
• EBITDA margins expected to expand 100 bps YoY
• Growth to be aided by acquisition consolidation
• FY27 EPS cut due to higher tax rate and depreciation
• FY28 EPS raised on improving margin trajectory

MS on Coal India

• Maintain Equal-weight with TP of Rs 420
• Floor price remains at a material discount to market prices
• Overhang expected to keep stock volatile near term

Citi on Pine Labs

• Maintain Buy with TP of Rs 235
• Guidance implies over 20% growth and margin expansion
• Growth expected to be supported by recent deal wins and partnerships
• Projects adjusted EBITDA and EBIT growth of 42% and 84% over FY26-28
• Operating leverage expected to drive profitability
• Affordability business upside may offset weakness in gift cards

CLSA Price Action – Laurence Balanco

• Nifty remains range-bound within 2024 trading band
• NSE Midcap Index nearing breakout from consolidation pattern
• Breakout could imply upside target of 77,687-78,000
• Dixon Technologies highlighted as a buy candidate
• Close above Rs 11,845 seen confirming breakout
• Initial upside target pegged at Rs 15,000

Citi on IndusInd Bank

• Maintain Sell with TP of Rs 800
• RoA target seen at ~1% by FY27-end and ~1.5% over medium term
• Improvement expected through credit cost normalization and opex leverage
• Balance sheet resizing seen enabling future growth
• Leadership transition largely complete
• No near-term capital requirement expected
• ECL transition could impact capital ratios by 100-120 bps

Citi on Ceat

• Targeting No.1 position in 2W and 4W tyre aftermarket segments
• Aims to increase international business contribution to 33%
• Premium brand expansion remains a focus
• Looking for 15% market share in CV radials aftermarket
• Industry demand supported by GST cuts
• Raw material costs expected to rise sharply in Q1
• Additional price hikes likely
• CAMSO integration progressing well
• Capex expected to rise slightly above historical levels

CLSA on SBI

• Maintain Outperform with TP of Rs 1,275
• Says temporary NIM weakness has historically reversed
• Believes recent 10-12% correction offers buying opportunity
• Deposit repricing expected to improve NIM by 8 bps

GS on Astra Microwave

• Maintain Buy with TP of Rs 1,455
• In-line performance with strong margin expansion
• Growth supported by defence, exports and space businesses
• Working capital performance improved significantly in FY26

MS on Brainbees

• Maintain Equal-weight with TP of Rs 300
• Q4 broadly in line
• India margins impacted by diaper competition and higher manufacturing costs
• Management confident of improving topline growth
• Manufacturing margin pressure expected to reverse in Q2
• Competitive pressure in diapers could continue for 4-6 quarters

Jefferies India Strategy

• Higher petroleum and fertilizer subsidies could pressure fiscal position
• Non-defence capex growth in FY27 may remain flat YoY
• PSU disinvestment likely to increase
• Oil marketing companies seen breakeven at crude prices of $85-87/bbl
• Further fuel price hikes may be required

UBS India Strategy

• Added ABB India and Triveni Turbine to portfolio
• Removed Bharat Electronics and Cognizant
• Increased weights in Titan Company and NTPC
• Reduced exposure to Reliance Industries and Thermax

Macquarie on ONGC

• Maintain Outperform with TP of Rs 300
• Q4 impacted by weak production and higher exploration expenses
• Oil production declined 2% YoY in FY26
• Gas production down 1% YoY

Jefferies on ONGC

• Maintain Buy with TP of Rs 360
• Q4 EBITDA fell 20% below estimates
• Higher opex and dry well write-offs weighed on performance
• Crude and gas production broadly in line

Jefferies on Real Estate

• Residential sales volumes and values rose 10-15% YoY in Mar-Apr 2026
• Demand resilience seen despite Middle East conflict concerns
• Market share gains continue supporting listed developers
• Q1 launch pipeline tracking well for Godrej Properties, Prestige Estates Projects and Oberoi Realty

Citi on Sun Pharma

• Maintain Buy with TP of Rs 2,180
• ASCO 2026 data reinforces competitive positioning of UNLOXCYT in laCSCC
• New dataset addresses prior concerns around sample size
• Improved tolerability and durable responses strengthen com

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