Stock Picks Today: Infosys, Dr. Reddy's Labs, Kajaria Ceramics, Tata Consumer Products On Brokerages' Radar

Infosys Ltd., Dr. Reddy's Laboratories Ltd., Tata Consumer Products Ltd., Kajaria Ceramics Ltd., Westlife Foodworld Ltd., Persistent Systems Ltd., and Coforge made it to brokerages' radar on Thursday, as most of these companies disclosed their first-quarter numbers.

In the case of Infosys, while most brokerages maintained ratings, some cut target prices and some raised target prices. As far as Dr. Reddy's Laboratories Ltd. is concerned, BofA raised the target price, while others retained their view. Jefferies downgraded Kajaria Ceramics Ltd.

NDTV Profit tracked analysts' views on various stocks and sectors. Here are the analyst calls to keep an eye out for today.

Morgan Stanley

• Maintained Equal-weight rating

• Raised price target to Rs 1,700 from Rs 1,670

• Q1 performance viewed as balanced relative to peers

• Revenue growth for FY26 expected near the top end of guidance

• Margins expected above midpoint

• Infosys likely to post the strongest EBIT growth among large caps in FY26

BofA Securities

• Maintained Buy rating with price target of Rs 1,840

• Q1 beat highlights gains in market share and improved pricing

• Commentary strong on participation in AI opportunity

Macquarie

• Maintained Neutral rating

• Cut price target to Rs 1,490 from Rs 1,500

• Unbilled revenue rose QoQ, EBIT fell short of estimates

• Top-end of guidance was not revised upward despite acquisition impact

• Raised FY26–28 revenue forecast by 1.8–2.2%, lowered EBIT margin by 1–15 basis points

Macquarie

• Maintained Neutral rating with price target of Rs 1,190

• Q1 FY26 results showed a modest miss

• North America sales fell due to price erosion and order timing issues

• Revlimid continues to face pricing pressure, with lower contribution expected in Q3

BofA Securities

• Maintained Buy rating

• Raised price target to Rs 1,600 from Rs 1,500

• Margin performance was in line despite sharp erosion in gRevlimid

• Multiple growth drivers support 25% margin outlook: semaglutide, core business growth, cost management

• FY26 earnings reduced due to faster-than-expected erosion in Revlimid

• FY27 EPS remains unchanged with core business performing steadily

Morgan Stanley

• Maintained Equal-weight rating with price target of Rs 1,298

• Q1 results were in line

• Margin declined due to higher generic price erosion and lower operating leverage

• Sema approval expected between October and November 2025; launch set for January 2026

Morgan Stanley

• Maintained Overweight rating with price target of Rs 1,255

• Q1 showed a mixed performance, but H2 outlook remains positive

• PAT beat driven by margin improvement and lower interest cost

• Ebitda margins expected to improve sequentially and return to normal levels by Q3

• Core business posted strong value growth, while growth business remained subdued

Citi

• Maintained Buy rating

• Cut price target to Rs 1,275 from Rs 1,325

• Weak Q1 performance

• Margin recovery in H2 FY26 depends on softening tea prices

• Profitability outlook remains mixed

• Monitoring recovery pace in NourishCo and Capital Foods 

• Downgraded to Hold from Buy

• Raised price target to Rs 1,225 from Rs 1,120

• Volumes remained weak for the eighth straight quarter

• Downgrade follows a sharp rally in the stock

• Reduced FY27–28 EPS estimates by 3–4%

• Higher domestic competition from Morbi is a concern

• Maintained Outperform rating with price target of Rs 835

• Q1 margin performance provides comfort

• Company is investing to drive growth, especially in South India

• Gross margin expansion in Q1 seen as sustainable

• Ebitda margin likely hit bottom, even if demand recovery is delayed

• Limited recovery signs across the industry remain a concern

• Maintained Outperform rating with price target of Rs 7,330

• Banking now expected to drive growth instead of healthcare

• EBIT margin fell below estimates

• Management expects BFSI to lead growth

• Healthcare also expected to support growth in FY26

• Maintained Overweight rating with price target of Rs 1,880

• Revenue growth met expectations; EBIT and margin missed

• Executable order book increased $40 million QoQ, lower than $55 million expected

• Maintained Outperform rating with price target of Rs 365

• Q1 results missed expectations

• Mass-media marketing for new Pizza Hut launches seen as positive

• Concern over near-term growth outlook and reliance on recovery for margin expansion

• Maintained Sell rating with price target of Rs 89

• Operational performance missed expectations

• Growth guidance reduced amid rising competition

• Current valuation assumes a long and sustained positive cycle, which is at risk

• Maintained Equal-weight rating with price target of Rs 775

• June spend market share dropped to 16.7%

• Monthly spend declined 5.6% for SBI Card compared with a 3.6% industry fall

• A recovery in corporate spending could support performance

• Maintained Overweight rating with price target of Rs 790

• O&M partnership with Gleneagles in India seen as positive

• Larger network expected to improve procurement synergies

• Partnership could lead to future consolidation of Gleneagles assets

• IHH continues to position Fortis as its primary India growth platform

• Fortis is pursuing strategic corporate actions; positive stance reaffirmed