Stock Picks Today: LIC, Trent, Swiggy, Hero MotoCorp, Premier Energies And More On Brokerages' Radar

Brokerages have identified fresh opportunities across the life insurance, retail, online food delivery, FMCG, capital goods, consumer durables and pharma sectors, with new or reiterated calls on LIC, Trent, Swiggy, Hero MotoCorp, Cummins India, Britannia Industries, Premier Energies, Ajax Engineering, LG Electronics India and Crompton Greaves Consumer Electricals.

Macquarie on LIC

• Maintain Outperform with TP of Rs 550
• Q1: Strong VNB beat despite modest APE growth
• Margin-led VNB beat; valuations compelling
• Mix and yields drive margin expansion
• Peer gap closing; valuation remains attractive

Bernstein on LIC

• Maintain Market-perform with TP of Rs 500
• Modest top-line growth with favorable margin outlook
• Saw continued margin uplift in Q1FY27 aided by product mix shift and favorable yield curve movement
• It aimed for further margin expansion, driven by non-par sales
• Govt OFS addresses the key overhang on the stock for now and creates room for near term upside
• Soumeet Debajit Sarkar.

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Jefferies on Trent

• Maintain Hold; Hike TP to Rs 3435 from Rs 3110
• Strong Margins but Cautious Management Outlook
• LFL growth, while steady, remained muted at low single digit partially due to store densification
• Mgmt commentary seemed cautious on near-term demand due to geopolitical uncertainty
• This could result in higher commodity prices that may have implications on demand as well as the supply chain
• Trent is already seeing cost inflation

 Macquarie on Trent

• Maintain Outperform with TP of Rs 3600
• Q1 bear; pointing to demand strength
• Believe the rising salience of higher-margin Westside sales drove the gross margin beat
• Clarification on FY27 store additions and its constructive comments on demand make us optimistic on sales
• See multiple avenues to manage input costs and lead time available to implement changes
• Confident margin impact from input cost pressures will be limited

 Bernstein on Trent

• Maintain Outperform with TP of Rs 3500
• Delivered a beat on profitability again; growth reboot still loading
• Trent has kept its promise on store additions, maintained growth and keeps delivering margin upticks
• Believe the growth can be in the 18-20% range on a steady state basis
• Near term, concerned about macro headwinds.

MS on Trent

• Maintain Overweight with TP of Rs 3151
• Q1: EBITDA Beat; Top-line Growth Improvement Key
• Q1 consumer sentiment was broadly positive, although the duration and intensity of the Middle East conflict may have near-term implications
• Company continues to mitigate cost pressures by calibrating price changes and cost saving interventions across the supply chain

MS on Swiggy

• Maintain Equal-weight with TP of Rs 328
• Capital Markets Day: Steady food delivery + strong out of home + reigniting growth in QC
• Swiggy management has set an ambitious target to grow B2C MTU by 2.5-3x
• Target to grow GOV at a CAGR of 30%+ and adj. EBITDA to Rs 10000 cr (4% of GOV) by FY31
• Aspirations seem ambitious to us, but the proof of the pudding will be in the execution.

Citi on Swiggy

• Maintain Buy with TP of Rs 390
• Targeting Better quick commerce retention, Wider food delivery total addressable market Unlock
• Swiggy aims to defend/gain market share in quick commerce
• It aims to catch up with Eternal in operational efficiency
• Swiggy to ensure that if there is additional food delivery market to be unlocked through a value play.

Jefferies on Swiggy

• Maintain Buy; Hike TP to Rs 435 from Rs 415
• A Grand Vision to Achieve US$1 Billion EBITDA by FY31
• FY31 aspirations encompass deeper wallet share, new user cohorts, & greater affordability
• Quick Commerce remains biggest growth engine, with private labels, faster delivery, & better retention driving profitability improvement
• FD to see continued momentum & improving margins, with upside from affordability
• OOH adds optionality, while IOCC could provide margin upside
• Overall, we like vision, but execution holds key.

 Citi on Hero Moto

• Maintain Buy with TP of Rs 6800
• 1QFY27 Results Above Estimates As Higher ASPs and Cost Control
• EBITDA beat reflected cost reduction efforts even as gross margin was lower than expected.

MS on Hero Moto

• Maintain Overweight with TP of Rs 6537
• Q1 – better than expected
• 35% topline growth driven by 23% volume growth and 11% increase in ASP 

Citi on Crompton Consumer

• Maintain Buy with TP of Rs 400
• Supply Constraints Mask Healthy Underlying Growth
• Near-term growth outlook is strong led by partial recovery in lost sales from Q1, low base and tailwind from relatively new categories
• Execution remains a key monitorable amid volatile RM and supply chain environment.

Jefferies on Crompton Consumer

• Maintain Buy with TP of Rs 330
• In-line Q1
• Margins Weather the Cost Surge
• Crompton sustained growth led by timely price hikes, lean working capital mgmt and cost control
• So far 80% of inflation pressure has been passed-on.

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 Jefferies on Kalyan Jewellers

• Initiate Buy with TP of Rs 830
• Riding the Formalisation Wave
• Combines neighbourhood relevance with organised scale, creating a differentiated growth engine that drives share gains
• A differentiated franchisee-led model supports capital efficiency & rapid expansion, esp beyond South India
• Despite its overseas presence, India remains the bedrock
• Balance Sheet is net cash, supported by rising FCF & strong return ratios
• Forecast FY26-29E EPS CAGR of 21%. 

Citi on Ajax Engineering

• Maintain Buy; Cut TP to Rs 660 from Rs 680
• Q1 EBITDA Margins Contract
• Ajax Expects Demand Recovery in H2
• Prices Likely to be Hiked

 Jefferies Cummins

• Maintain Buy; Cut TP to Rs 6700 from Rs 7100
• Commodity prices impact the quarter
• Price hikes have been taken in this quarter and margins should improve ahead
• Data centres should continue to be the sweetener on core growth
• Cut FY27-29 EPS by 6-7% to factor the quarter
• Believe there are 3 key margin drivers ahead: Rising share of higher margin distribution business, Data Centres and Indigensation of the higher import content

 Jefferies LG India

• Maintain Buy; Hike TP to Rs 1810 from Rs 1750
• LG India is Key Pick; est FY26-28e EPS at +25% CAGR
• Premium diversified mix, price hikes, new launches, backward integration, industry-leading margins and return ratios are key drivers
• FY26 AR highlights its new launches, distribution channels, product-wise sales mix, market shares
• Phased capex plan of Rs 5000 cr in next 5-Year

Macquarie on Britannia

• Maintain Underperform with TP of Rs 4800
• Q1 miss led by higher other expenses
• Exited quarter with mid-teens sales growth
• Like comments indicating improving domestic demand as well as market share gains vs competition.

MS on Britannia

• Maintain Equal-weight with TP of Rs 5848
• Q1: Margin miss; Top-line growth in mid teens
• Most key categories improved growth sequentially, with the company exiting the quarter with mid-teens revenue growth
• While margins missed, commentary around improving growth towards the end of the quarter is a key positive.

GS on Britannia

• Maintain Neutral with TP of Rs 6000
• In-line quarter and improving trajectory
• Improving growth trajectory at the exit of the quarter

JPMorgan on Britannia

• Maintain Neutral with TP of Rs 5900
• Q1 - revenue growth improves but margins miss
• Input cost volatility remains a key monitorable

Macquarie on Lupin

• Maintain Outperform with TP of Rs 2750
• Q1FY27: Solid all-round beat
• US and India revenues were mostly in line with expectations
• EBITDA margin above owing to stronger-than-expected sales in developed and emerging markets, higher gross margin, and operating leverage

 Jefferies on Premier Energies

• Maintain Buy; Hike TP to Rs 1205 from Rs 1135
• Strong print; robust performance
• Order book rose with strong visibility over FY27-H1FY28
• Upgrade FY27/28E Ebitda 3%/2% owing to the beat and project 27% Cagr over FY26-29. 

JPMorgan on Premier Energies

• Maintain Overweight with TP of Rs 1095
• Q1 - Largely in line with our expectations
• Think the result was rather uneventful
• Premier's focus on the domestic market vs. the export market provided it with more stability during the quarter.  

JPMorgan on Apollo Tyres

• Maintain Neutral with TP of Rs 445
• Q1: India business delivered strong results while Europe underperformed
• EBIT margin came in lower than expected. 

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