Check out top stocks under brokerages' radar heading into trade today.
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Brokerages have highlighted opportunities across cables and wires, defence, information technology, and aviation, issuing fresh calls on Finolex Cables, Infosys, IndiGo, and Hindustan Aeronautics on Wednesday.
Additionally, they have also offered their views on textiles and the pharma sector.
Jefferies on Finolex Cables
- Maintain Buy with TP of Rs 1410
- Despite 60% rally YTD, Finolex's 1-year forward PE at 21x is notably below peers
- Communication drove margin upswing, now at 23% of Q1 EBIT
- Finolex targets to double its fiber draw capacity to 8 millon km by Q3
- Assuming fiber price of $11/km, this capacity can generate sales of Rs 200-250 cr/qtr
- Electricals stays the mainstay biz; Solar, EHV are new drivers
- FY26-29e EBITDA CAGR est at +22%
Jefferies on Textiles
- Welspun Living – Upgrade to Buy from Hold; Hike TP to Rs 260 from Rs 125
- Raymond Lifestyle – Initiate Buy with TP of Rs 900
- Stitching Together a Multi-Year Growth Story
- India's textile sector is entering a structural growth cycle
- Supported by China+1 sourcing & improved tariff competitiveness through the UK/EU FTAs
- Welspun enjoys global leadership & is a compelling play on home-textile export opportunity
- Raymond is a value buy with attractive risk-reward profile, backed by leadership in branded textiles & recovery potential in apparel business
Bernstein on Exchanges
- MCX – Initiate Outperform with TP of Rs 3830
- BSE – Initiate Underperform with TP of Rs 2820
- Indian exchanges have delivered handsome returns as the retail participation wave has scaled earnings and valuations
- Equity derivatives led the retail participation wave but face moderation
- BSE's market share gains will likely peak out in FY27, and BSE's growth will normalize
- In contrast, commodities are seeing an inflection, with equity derivatives offering a long runway for cross-pollination
- Regulator has been vocal about equity derivatives, but has eased commodity regulations
- The FPI consultation paper is a win for MCX
Citi on Hindustan Aeronautics
- Maintain Buy with TP of Rs 6175
- String of positive developments strengthen investment case
- The helicopter opportunity has clearly strengthened
- HAL is also taking steps to address manufacturing-capacity constraints
- See improving GE F404 engine supplies
- See scope for re-rating
JPMorgan on Infosys
- Maintain Neutral with TP of Rs 1050
- Demand status quo; AI inflation some time away
- Large deal wins normalizing and return in discretionary spending
- Demand has retained its status quo since Q1
- Competitive intensity has risen in vendor consolidation deals
- Infosys has delivered steady margins with gains from Project Maximus
- Infosys is open to larger M&A but only for capabilities rather than scale while also being mindful of valuations
HSBC on IndiGo
- Maintain Buy with TP of Rs 6040
- Standout on global benchmarks; more headroom
- India's airline industry has been at a disadvantage versus global peers due to a high tax structure and unfavourable policies
- But lower labour/infra costs supported by domestic MRO setup and the leasing industry may offset pressure elsewhere
- Indigo compares well versus global peers; healthy investment may unlock further value
Nomura on Pharma
- IPM growth trends – Aug 2026
- Zydus and Glenmark's growth the strongest in coverage; semaglutide generics up 2% MoM
- Strong growth in chronic therapies
- Sun maintains leadership in prefilled devices
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