Stock Picks Today: Tata Motors, Lupin, Coforge, Mphasis, Welspun Living, HDFC Life On Brokerages' Radar

Tata Motors Ltd., Lupin Ltd., Coforge Ltd., Mphasis Ltd., Welspun Living Ltd., and HDFC Life Insurance Co. 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:

Nomura

• Maintain neutral with target price of Rs 732

• PVs outperform industry as compact SUVs see surge in demand after GST cut

• CVs growth to pick up as well

• JLR did not experience any significant impact on demand across key markets

Jefferies

• Maintain underperform with target price of Rs 575

• JLR is still recovering from the cyberattack

• Strong uptick in PV bookings

• Sanguine on India CV demand & margins, too

JP Morgan

• Consumer sector leaders are cautiously optimistic about demand improving in H2FY26

• Auto sector demand is rebounding; see double-digit growth for 2-wheelers and a recovery in small cars

• Asset quality trends remain benign with stress still localized

• India’s capex cycle remains healthy

• Defense remains a structural growth story

• India’s long-term growth drivers remain firmly intact

Overweight sectors

• Consumer Discretionary - M&M, Hyundai, Eicher, Maruti, Eternal, MakeMyTrip, Vishal Mega Mart, Indian Hotels, THELEELA

• Consumer Staples - Britannia, Marico, HUL

• Financials – ICICI Bank, Kotak Bank, SBI, BNK OF Baroda, Shriram Finance, M&M Finance, Bajaj Finance, HDFC AMC, KFin Tech, SBI Life, LIC India, GIC Re

• Materials - JSW Steel, Hindalco, UltraTech Cement, Pidilite, Asian Paints

• Hospitals - Apollo Hospitals, Fortis Healthcare and Max Healthcare

• Real Estate - DLF, Oberoi, Nexus REIT, Embassy REIT

• Defense - BEL, HAL

• Power - NTPC, Power Grid, CG Power

Underweight sectors are: IT and Pharma

Expect Nifty 50 to trade between 26,500 and 30,000 target over the next six to nine months

CLSA

• Initiate outperform with target price of Rs 2,346

• Able leadership, well incentivised with ESOPs and a strong track record

• Derives two-thirds of its revenue from the financial services and travel verticals

• Management’s strong execution by building strong domain expertise in these verticals

• Having a consulting mindset is visible in its strong order book, revenue and earnings growth

• Forecast FY26-28 revenue/Ebit/EPS Cagrs of 15%/16%/22%

Morgan Stanley

• Maintain overweight with target price of Rs 1.880

• Believe the share price will rise relative to the country index over the next 60 days

• See both revenue growth and margins trends holding up in Q2 as well as in H2

• Limited downside risk to consensus EPS estimates

• Also see potential for FCF margins to improve going forward

• See re-rating potential from here

Morgan Stanley

• Maintain equal-weight with target price of Rs 2,096

• Lupin Looks to Ophthalmology Growth With VISUfarma Deal

• Acquisition will strengthen European operations and advance its global specialty franchise

• Implied valuation is 11.7x 2025e EV/EBITDA

• Lupin is funding deal with cash on the balance sheet

Morgan Stanley

• Maintain overweight with target price of Rs 3,625

• Believe the share price will rise relative to the country index over the next 60 days

• Expect deal wins to remain strong in the coming quarters

• Absolute and relative valuations appear compelling as we expect growth trends to improve going forward

Jefferies

• Maintain hold; Cut target price to Rs 120 from Rs 130

• Tough times until tariff issues are resolved

• Significant near-term challenges in its US business

• Washout of profitability in the short term and 15-20% decline in US revenues

• Management is confident of a recovery once 25% tariff penalty is withdrawn

Goldman Sachs

• Q2FY26 Preview: Export weakness to start becoming visible; domestic remains strong

• Cables and Wires: think domestic demand remains strong for C&W; expect some moderation in the growth rates

• Dixon: expect a 4% QoQ growth in mobile and EMS division vs 15% guided by the company for Q2

• Buy rating on KEI, Sell on Dixon and remain Neutral on Polycab

BofA

• September registrations back in positive: All’s well that ends well

• September retails for PVs & 2Ws will likely end the month at low to mid single digit growth

• Entry cars & premium bikes shine

• Tractors on a high, CVs bottoming out

Nomura

• Maintain buy with target price of Rs 700

• Believe investors had strong interest in the data center theme in India

• Liked the company’s early start in the DC segment and relatively lower capex cost

• Concerns were more around competitive pressure, risks and technical capabilities

• Management sees visibility for approximately 8-10 years for the real estate segment

Macquarie

• Maintain underperform with target price of Rs 700

• Bracing for a tough quarter

• Q2 VNB margins could be under pressure

• Seeing some early signs of better run rate in protection post GST cuts; impact on ULIPs is high

• Focusing more on agency, dip in 13m persistency is not a worry

• Doing relatively a good job on growth so far; H2 should be better

• Valuations a concern

Jefferies

• Listed property developers are likely to post a second strong quarter of pre-sales growth

• On track to meet the 20%+ growth target for the year

• This reflects the market share gains as the cos' geographic expansion has come thru timely

• Industry-level data has somewhat improved in Top-7 cities

• DLF, LODHA, Godrej Prop remain preferred