Stock Picks Today: Infosys, PTC Industries, Cipla, Mphasis, And More On Brokerages' Radar

Defence, IT, pharma, auto, aviation, chemicals and retail stocks are likely to remain in focus on Friday after brokerages released fresh reports on PTC Industries, Infosys, Cipla, SRF, Sona BLW Precision Forgings, IndiGo, CIE Automotive, Mphasis and Vishal Mega Mart. 

MS On Infosys

• Maintain Equal-weight; Cut TP to Rs 1075 from Rs 1112
• Worse than feared
• Sharp cut in FY27 outlook could reflect Infosys-specific reasons
• Tend to believe that growth has become more challenged for the industry as a whole
• FY27 is likely to show erosion in growth outlook along with lower margins, affecting EPS growth
• Deal wins were strong, and the company is progressing well on new AI services
• Investors are likely to monitor for a smooth CEO transition phase

Jefferies On Infosys

• Maintain Hold; Cut TP to Rs 1020 from Rs 1235
• Worsening growth outlook in the price
• Appointment of CEO-designate may help provide comfort on CEO transition
• Cut estimates by 1-3% and expect Infosys to deliver 5% recurring EPS CAGR

BofA On Infosys

• Maintain Buy; Cut TP to Rs 1300 from Rs 1570
• Q1 demands a build up in rest of FY
• Good execution on AI business and profitability
• New deal wins moved up nicely from the previous quarter

GS On PTC Industries

• Maintain Buy with TP of Rs 25770
• Design and Development order received for Titanium cradle in Indian Light Weight Tank
• Channel checks indicate that this order pertains to Zorawar Light Tank, that Indian Army plans to induct in 2028-29
• Marks transition into complex design-and-develop defense programs
• Creates a new growth avenue in defense applications
• Builds up expertise in developing related components for domestic platforms

 
Jefferies On Cipla

• Maintain Underperform; Hike TP to Rs 1170 from Rs 1120
• Higher costs drive a miss in June-Q, downside risk to US guidance persists
• Q1 missed due to higher costs and lower sales from North America (NA)
• North America exit rate of US$250m in Q4 is a tall ask especially with a gradual ramp-up of recently launched gVentolin
• See downside risk to Ebitda margin guidance of 18.5-20% if key US launches are delayed
• Raise FY27 EPS estimates by 2% on higher forex, FY28/29 largely unchanged

MS On Cipla

• Maintain Underweight with TP of Rs 1218
• In-line Q1; Hitting US$1bn US Sales Target Is Key
• EBITDA fell due to Revlimid loss, war-related costs, and pre-launch investments
• US revenue run rate to improve from H2

Kotak Securities On CIE Auto

• Maintain Reduce; Cut TP to Rs 450 from Rs 470
• Weak execution; margin performance disappoints
• Softer profitability in the European business due to lower volumes in Mexico
• Expect its India business to grow in line with domestic blended automotive industry growth
• EU automotive business trends will continue to remain muted
• Favorable currency translation should support growth in INR terms

 
Jefferies on SRF

• Upgrade to Hold from Underperform; Hike TP to Rs 2540 from Rs 2450
• Reported a strong beat led by Technical Textiles and Packaging Films
• Speciality chemical segment recovery is elusive
• Stock has corrected 14% YTD as it heads into seasonal weakness and trades at long term average
• Leaves limited room for downside
• Raise Ebitda 3%/2% for FY27/28

MS On Cyient

• Maintain Underweight with TP of Rs 820
• Better than feared, but would wait for a sustained growth recovery
• Making necessary changes to set a GTM plan in motion with relevant offerings, and this has started to reflect in deal wins
• Seeing momentum in its large-deal pipeline, now its highest pipeline in the past 12 quarters
• Push-out of DET margin guide of 15% EBIT margins to some time in FY28 vs Q4FY27
• Slowdown in discretionary projects and potential headwinds in transportation, could mean slow growth recovery

  
MS on Mphasis

• Maintain Overweight with TP of Rs 2730
• Q1 first cut: Strong growth visibility partially offset by margin miss
• Q2 is expected to be the best QoQ growth quarter (seen in past 3 years), in cc terms, with broad-based growth
• New deal wins in fiscal Q1 at US$461mn were largely in line

 
Jefferies On Sona BLW

• Maintain Buy; Hike TP to Rs 900 from Rs 700
• A World of New Opportunities
• Traction motor business is growing strong, and differentials is recovering
• Partnership with Denso and entry into robotics & physical AI opens up big opportunities
• Sona is targeting 10x revenues in 10 years
• Rich multiples should sustain given strong engineering capabilities and growth potential 

Jefferies on IndiGo

• Maintain Buy; Hike TP to Rs 5840 from Rs 5380
• Navigating Turbulence
• Soft JunQ saw high fuel costs only partly offset by strong yield growth
• In FY27, Co has shifted to measured capacity growth, focusing on yields to offset costs
• Despite healthy yields, near term earnings will remain subdued, with a tougher backdrop for peers
• Renewed Middle-East tensions add volatility
• Tight industry supply should support yields & aid FY28 earnings recovery 

Jefferies On Meesho

• Maintain Buy; Hike TP to Rs 240 from Rs 225
• Growth momentum stays strong, with marketplace losses inline
• While balancing value proposition, mgmt. decided to pass on cost inflation
• Outlook remains positive, but a shift in seasonality implies Q2 will be softer, while Q3 should be bumper
• A series of experiments is underway, with aggregate loss within a band

Macquarie On Meesho

• Maintain Underperform with TP of Rs 125
• Sequential growth moderation, margin improvement
• Like Meesho's positioning
• Given its low per-order unit economics, believe the current valuation implies its growth flywheels will remain in overdrive for the next five years

Jefferies On Vishal Mega

• Maintain Buy with TP of Rs 160
• Double Digit SSSG with Margin Expansion
• Slight beat on EBITDA, with double-digit SSSG & GM expansion
• Momentum in store adds continued, with smaller formats also being scaled up
• Own brands remain a key focus, with selective price hikes and no changes to opening price points
• Proposed shareholder approval to cap foreign ownership to <50% signals a potential PE sell-down ahead
• This has been a key investor concern despite sharp valuation gap vs DMart

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