Stock Picks Today: Sun Pharma, LTIMindtree, NTPC, Divi's Lab, Hindalco And More On Brokerages' Radar

Kotak Securities on Sun Pharma

• Maintain Add with TP of Rs 1,960
• Growth guidance cools despite strong long-term levers
• Q4FY26 performance missed estimates
• FY27 topline guidance seen as slightly disappointing
• Specialty business progress remains on track
• Expects Sun Pharma to deliver ~16% EPS CAGR over FY26-29

MS on Sun Pharma

• EBITDA miss due to higher spending
• Strong India and global innovative medicines growth in Q4
• Ilumya and new launches supported growth
• Higher R&D and operating costs impacted margins
• Long-term growth outlook supported by specialty expansion and India franchise strength

CLSA on Sun Pharma

• Maintain Outperform; Hike TP to Rs 2,020 from Rs 1,920
• Innovative drugs, India and other markets continue to offset weak US generics
• Guidance seen as moderate amid uncertainty

Kotak Securities on Colgate

• Maintain Reduce; Cut TP to Rs 2,025 from Rs 2,000
• Topline growth recovery seen in Q4FY26
• Margins impacted by inverted duty structure
• Growth momentum expected to continue
• Higher advertising and promotion spending may pressure EBITDA margins

CLSA on Colgate

• Maintain Hold; Hike TP to Rs 1,955 from Rs 1,826
• Volume and pricing growth supported beat
• High demand elasticity expected to drive ad spending
• Focus remains on premiumisation and category expansion
• Gross margins expected to stay in current range

HSBC on LTIMindtree

• Maintain Buy with TP of Rs 5,250
• Randstad Technology and Consulting acquisition to strengthen capabilities
• LTIM plans to leverage Randstad GCC relationships
• Acquisition expected to help reduce subcontracting costs
• Management sees limited margin impact
• Europe scale-up and stronger Australia banking presence aiding medium-term growth
• Near-term demand environment remains weak

Bernstein on NTPC

• Maintain Outperform with TP of Rs 430
• Execution remains in line with expectations
• One of the few reasonably valued utility stocks, according to Bernstein
• Renewable energy targets remain ambitious for FY27
• Grid limitations could act as a bottleneck
• Concern remains over NTPC ceding ground to private players in thermal awards

Kotak Securities on Divi's Lab

• Maintain Sell with TP of Rs 5,850
• Growth slowed in Q4
• Awaiting new generic API launches
• Peptides and dedicated project timelines remain key for custom synthesis momentum
• Valuations already reflect expected CSM improvement

Citi on Divi's Lab

• Maintain Buy with TP of Rs 9,140
• Q4 softness seen as temporary
• Management reiterated double-digit FY27 revenue growth guidance
• Strong pipeline and higher capex support medium-term growth visibility
• Citi continues to view Divi's as a top pharma pick

MS on Divi's Lab

• Maintain Overweight with TP of Rs 7,904
• Custom synthesis expected to drive next phase of growth
• Company aims to become one of the largest peptide players globally
• Currently has the largest SPPS scale in India
• Capex uptrend expected to support revenue acceleration from H2FY27

MS on Torrent Pharma

• Maintain Equal-weight with TP of Rs 4,580
• EBITDA in line with estimates
• Semaglutide scale-up and synergies remain positives
• Torrent viewed as a high-quality compounder
• Much of synergy upside already reflected in valuations

MS on Eicher Motors

• Maintain Equal-weight with TP of Rs 7,763
• Q4 performance broadly in line
• Management expects FY27 growth momentum to continue
• Export outlook remains cautiously optimistic
• Brownfield expansion to 2 million units targeted by Q2FY28
• Greenfield expansion announced in Andhra Pradesh
• Commodity headwinds partly offset by price hikes

Kotak Securities on Hindalco

• Maintain Reduce; Hike TP to Rs 1,100 from Rs 1,000
• Beat seen across India aluminium and copper divisions
• India business expected to support Novelis in near term
• Gulf conflict aiding performance
• India projects expected to come online from FY28

CLSA on Hindalco

• Maintain Outperform; Hike TP to Rs 1,240 from Rs 1,035
• Strong India business performance drove beat
• Higher costs and hedging may partly offset strong LME prices
• Novelis continues to drive leverage

Citi on Fortis Healthcare

• Maintain Buy with TP of Rs 1,120
• Strong quarter with healthy hospitals growth
• Margins remained resilient despite bed expansion
• Diagnostics business continued to show traction

CLSA on Sterlite Tech

• Maintain Outperform; Hike TP to Rs 655 from Rs 405
• Secured $1 billion order from US hyperscaler
• AI datacentre optical products win expected to drive strong growth
• Multi-year datacentre boom in North America and India seen as key tailwind
• Forecasts revised sharply higher

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