Stock Picks Today: SBFC Finance, Tata Commmunications, PB Fintech And More On Brokerages' Radar
Analysts have also tweaked share price targets for some of these companies.
A host of global and domestic brokerages have released fresh views on SBFC Finance, Tata Commmunications, DOMS Industries, PB Fintech ahead of Wednesday's session. Analysts have also tweaked share price targets for some of these companies.
Jefferies on Pharma Sector
Key Pipeline Projects Indian CDMOs Are Working On, Some Can Be Game-Changers
Revise project pipeline for Indian CDMOs and find most companies are working on sizable new projects
Among the new wins, believe Sai has added the most meaningful projects, followed by Piramal and Divi's
Sai and Divi’s have the 100% revenue visibility on FY28 estimates and thus are also our top picks
JPMorgan on AC Industry
Overall demand trends have lagged expectations amidst challenging weather conditions
Festive uptick was not very encouraging either
All eyes are now on pre-season purchases starting end Q3 and during Q4
Channel inventory levels are still high driving working capital pressures at the dealer end
Build-up for the season will be a key monitorable
Price hikes in high single digit due to new energy rating norms will likely be offset by GST benefits
Competitive landscape remains firm with significant capacity build-out which may weigh on margin/return profiles
Regulatory changes like QCO norms for compressors and new BEE ratings will be key watch outs
Amidst volatile AC industry growth outlook, believe LG India is relatively better placed with a diversified portfolio mix
Investec on SBFC Finance
Maintain Buy with target price of Rs 150
SBFC has built a niche in secured MSME finance
Geographically diversified network helps smooth out state-level volatility
Remains focused on cost efficiency, targeting a reduction in its cost-to-income ratio to below 30% over the next 3-4 years
Aspires to grow AUM at 5%-7% QoQ with improving cost ratios and RoE expansion
Well capitalised to double its AUM over the next 3-4 years
Valuation is expensive, but believe is justified given quality management team and strong earnings growth
JPMorgan on Hotel Sector
Oct 2025 – Seasonality showing up, strong Q3 in sight
Industry trends for Oct reflect seasonality benefits kicking in
Key business and leisure destinations have reported healthy rate growth
Industry’s signed inventory is 4.2 times of new additions in FY26
Domestic trends offsetting international softness
Macquarie on Tata Communications
Maintain Outperform with target price of Rs 2,210
Deepening its CX suite
This acquisition to strengthen its CIS portfolio by integrating Commotion's products with Kaleyra's existing capabilities
Understand CIS is currently the main drag on overall segment profitability
BofA on Consumer
Premiumisation, wallet shift - themes to watch for future
Jewellery continues to shine
Resilience of premium alcobevs is noteworthy
Luxury / premium hospitality segment is a key beneficiary
Staples cos sharpening focus on premium segments
Rising incomes and shift in wallet share key themes to watch for future
Jefferies on Cement Prices
Cement: Muted Month on Pricing
Cement price was lower by 0.5% MoM in Nov
QTD avg is soft at 1.5-2% QoQ decline, given cap on near term pricing due to new GST rollout
Checks suggest pricing may improve in Q4 with better demand
Do build in price recovery in Q4 amid demand recovery
Remain constructive on the space on a 12-basis; like Ambuja, UltraTech and JK Cement
Jefferies on Chalet Hotels
Maintain Buy with target price of Rs 1,070
Reaffirmed metro dominance at its analyst meet, citing institutional partnerships, mixed-use expertise & industry-leading execution
Chalet is focused on “Big Box” city assets and leisure properties, complemented by selective commercial real estate
Will balance brand tie-ups with a selective rollout of ATHIVA
New upper-upscale brand tailored to each property’s potential
BofA on PB Fintech
Maintain Neutral with target price of Rs 1,980
See no GST-led negative impact on health & term insurance, but some impact on savings biz
Company is working towards addressing this impact over 3-6 months
Negotiating with insurers as take rate on savings at 10-13% are already low
Emkay on IPCA Labs
Initiate Buy with target price of Rs 1,700
Likely to defy skeptics yet again
Domestic outperformance an outcome of portfolio construct + a playbook perfected over the years
Europe, branded generics, and US re-entry to fuel export momentum
Ky elements of the Unichem reset yet to play out
Estimate 17% EPS CAGR for IPCA over FY25-28
Expect the company to exit FY26 with a net-cash position
Antique on DOMS Industries
Initiate Buy with target price of Rs 3,250
Positioned for the next leg of growth
Capacity bottleneck addressed through greenfield capex
Huge scope for distribution expansion
EBITDA and return ratios likely to remain in the guided range
BofA on GMR Airports
Initiate Buy with target price of Rs 128
Rising tide of Indian travel spending
Supercharged earnings growth ahead
Attractive valuations given growth, property & regulation
