Stock Picks Today: Sun Pharma, KPIT Tech, BHEL, Nazara Tech, CMS Info, Godrej Properties On Brokerages' Radar

Sun Pharma Ltd., KPIT Technologies Ltd., Bharat Heavy Electricals Ltd., Nazara Technologies Ltd., CMS Info Systems Ltd., and Godrej Properties Ltd., are among the companies garnering brokerage commentary today.

Analysts have shared their insights and, in several cases, revised their target prices based on their updated fundamental outlooks for these firms. Here are the key analyst calls to watch out for today:

Citi

• Maintain buy with target price of Rs 2,180

• MFN overhang is removed with Pfizer Deal

• Existing drug prices in the medicare and commercial segments haven’t been touched

• Removes a key overhang on Sun Pharma’s Ilumya

• Sun Pharma now appear to been substantially abated

• Sun Pharma preferred sector pick

Goldman Sachs

• Maintain neutral; Cut target price to Rs 1,100 from Rs 1,230

• In Q2, expect QoQ organic constant currency revenue to decline -2%

• Due to cross currency tailwinds and INR depreciation vs the USD, expect USD revenue to decline -1%

• Caresoft acquisition which closed in mid August, should potentially contribute $4mn additional revenue

• Cut FY26-28 EPS estimates by 16% owing to uncertainty in timing of deal closures and delay in recovery of global EV R&D spending

UBS

• Maintain buy with target price of Rs 340

• BHEL secured Rs 15000 crore order for supercritical thermal power plants; ~17% of FY26 UBS estimates

• Increases BHEL's YTD order inflow to Rs 31000 crore - 35% of FY26 UBS estimates

• Order intake momentum remains positive, pickup in execution remains critical for re-rating

Jefferies

• Q2 Preview: Mid-sized firms should continue to outperform

• Expect agg. revenues to grow by 1.2% QoQcc after declining by 0.8% QoQcc in Q1

• Infosys/LTIM among large IT firms and Coforge/Sagility/ Hexaware among mid-sized IT firms will likely grow faster whilst TCS/Wipro/TechM will likely lag

• Expect Infosys to raise its growth guidance by 50 bp

• Agg. margins may expand QoQ led by pick-up in rev. growth and favorable forex tailwinds

• Sagility/TechM/Coforge leading margin expansion

Jefferies

• Maintain buy; Cut target price to Rs 445 from Rs 580

• Mgt of CMS pointed at softer trends for FY26 & normalisation from FY27

• Still, growth in core revenues may be moderate around 12% Cagr over FY25-30 & margins stable

• Uptick in ATM network expansion will be key

• In retail cash segment, mgt plans to keep up with aggressive share gains

• Tech & payment solution to see stronger growth, & CMS may evaluate M&A prospects

• Cut EPS estimates by 7-10%

Morgan Stanley

• Believe the last 45 days of Q2 may have changed the growth trend vs. the first 45 days

• Across consumer companies with the most negative impact for FMCG companies vs. retailer over discretionary companies

What's not in our numbers:

• 1) The possibility of a positive swing in demand post the GST change for discretionary and retail businesses

• 2) Commentary from FMCG companies (HPC and F&B) could be muted vs. market expectations

• 3) The conversation around competitive intensity and market share changes could be more meaningful starting this quarter in the Paint sector

• Measures in place to shift growth from being "just incremental" even as Q2 results are likely to still relay the incremental narrative

• Believe early festivities could favor urban plays and Q3 could turn out to be the best festive season of the past five years

CLSA

• Maintain underperform with target price of Rs 166

• Real money gaming banned

• Ban will hit Nazara’s PokerBaazi and e-sports de-subsidiarisation

• Government will continue to promote esports and other online games

• Nazars will take a hit in PokerBaazi

• Ownership in fast-growing e-sports subsidiary Nodwin has fallen below 50%

• Nazara stock valuation is expensive at 48x FY27 PE

CLSA

• Maintain outperform; Hike target price to Rs 2,850 from Rs 2,770

• Closing on a strong quarter

• Estimate presales of Rs 8,000-8,500 crore in Q2; likely to beat guidance

• Strong growth with improving cash flows/ margin

• Yet valuation at discount

Morgan Stanley

• Cumulative credit card spending over 22-29 Sep 2025 rose 11.3% vs. the same e-commerce sale period last year (26 Sep-3 Oct 2024)

• Cumulative credit card spending over 22-29 Sep 2025 increased 23.8% vs. the same Navratri period last year (3-10 Oct 2024)

• On a like-to-like basis, have seen a meaningful YoY rise in FY26 festive spending thus far vs. the fiscal year until August