Stock Picks Today: Tata Motors PV, Jubilant Foodworks, Groww, Delhivery, LG Electronics, And More On Brokerages' Radar

Brokerages have identified opportunities across a diverse set of sectors, including automobiles, logistics, city gas distribution, healthcare, defence, electronics, apparel, and agrochemicals, with updated recommendations on stocks such as Tata Motors PV, Honasa, Jubilant FoodWorks, Groww, Max Financial, Max Health, Delhivery, LG Electronics, Page Industries, Indraprastha Gas, Solar Industries, alongside a stance on India strategy.

Citi on Tata Motors PV

• Maintain Sell; Cut TP to Rs 305 from Rs 320
• Q1 Results Much Below Estimates; Margin Headwinds Persist
• Margin concerns for both businesses
• Mgmt. outlook is positive for India, given healthy underlying demand
• Due to continued increase in commodity costs, Q2 margin is also expected to be in line with Q1.

Macquarie on Tata Motors PV

• Maintain Outperform with TP of Rs 381
• Margins disappoint; near-term risks persist
• India margins disappoint; JLR in line on muted expectations
• Upbeat on domestic growth; margin risk persists.

MS on Jubilant Food

• Maintain Equal-weight with TP of Rs 439
• Q1 – broadly in-line; improving outlook
• Q2 has started strong and mgmt. sees LFL improving to 5-7%
• Mgmt reiterated 200 bps EBITDA margin guidance but sounded cautious on inflation for Q2
• Like disclosures on Popeyes
• Overall, management sounded optimistic on demand sentiment and gaining market share
• Dominos gained 80 bps YoY delivery market share. 

Macquarie on Jubilant Food

• Maintain Underperform with TP of Rs 360
• Q1 – bullish on demand, cautious on margins
• Q1 EBITDA inline across India and international business
• See input cost pressures, high LFL sales base, and weaker flow-through from the dine-in recovery given lower sales salience.

Jefferies on Jubilant Food

• Maintain Buy; Hike TP to Rs 650 from Rs 600
• An Inline Quarter
• Domino's India LFL improving to 2.5% YoY, though remains weak
• Standalone EBITDA growth failed to translate into earnings, which were flat YoY
• Mgmt. expects acceleration ahead, driven by internal & external factors
• A progressively lower base to also help
• Despite high-cost inflation, EBITDA margin decline was limited.

Citi on Jubilant Food

• Maintain Buy; Hike TP to Rs 670 from Rs 650
• Domino's Holds Steady; Popeyes Emerges as Second Growth Engine
• Strategic initiatives continue to drive positive LFL
• Higher overall discretionary consumption could drive further LFL improvement and re-rating
• Jubilant Food is preferred pick within QSR coverage
• See LFL outperformance vs other QSR players and growth opportunity for Popeyes.

ALSO READ: Loss-Making IPOs: 18 Of 19 Stocks Still Above Issue Price — Who's Breaking The Jinx?

Macquarie on Max Health

• Maintain Underperform with TP of Rs 825
• Q1 operationally in-line, but PAT miss
• PAT miss due to higher than expected finance cost
• EBITDA per bed declined QoQ owing to drag from new beds

Macquarie on IGL

• Maintain Outperform with TP of Rs 220
• Q1 – volumes inline, margin squeeze
• Higher gas cost, despite price hikes impacted margins
• Management commentary on current gas availability and sourcing mix, FY27E volume and margin guidance – key to watch

Macquarie on Delhivery

• Maintain Outperform with TP of Rs 580
• Increase revenue forecasts on better parcel volumes
• With scale, continue to see strong operating leverage and margin expansion
• For FY26-29E, model 21% rev. CAGR, 50%+ EBITDA CAGR
• Believe Delhivery is poised to further consolidate market share in both 3P Ecommerce Logistics and Part-Truck Load

 Jefferies on LG Electronics

• Maintain Buy with TP of Rs 1810
• Q1: Margin Beat; Life Stays Good
• 'LG Essential Series' grew Tier 2-3 market penetration
• Est FY26-28e EPS CAGR at +25%
• Margins aided by premium mix, higher volumes, price hike, cost controls and backward integration.

MS on LG Electronics

• Maintain Overweight with TP of Rs 1610
• Q1 – good beat
• Double-digit growth across every category
• Televisions and washing machines led alongside strong summer demand in air conditioners and refrigerators
• Well positioned for the festive season ahead of Onam, Durga Puja, and Diwali

Macquarie on Page Industries

• Maintain Underperform with TP of Rs 32500
• Q1 miss on weaker volume momentum
• Q1 EBITDA below as logistical constraints hurt volumes
• Reiterated double-digit volume growth target for FY27
• Worry about a repeat of Q1 when such confidence did not flow into performance.

MS on Page Industries

• Maintain Overweight with TP of Rs 42636
• Q1 Miss: Optically Soft Quarter, but Not as Bad
• Reported performance was affected by logistics and manpower disruptions
• Impact on delivery of 3 days of billings and ARS led seasonality normalization
• Management reiterated double-digit volume growth aspiration for FY27
• Above-average volume growth in the next three quarters as demand remains strong
• With the positive management commentary, expect some reversal of the recent underperformance.

GS on Solar Industries

• Maintain Buy with TP of Rs 20180
• Q1FY27 Result Review: Ahead of estimates; Guidance maintained
• Management's expectations of sizable orders in the coming quarters
• Volumes are likely to increase following the commissioning of the Dhule plant
• See robust order inflow and sustained good performance of the international segment
• Margins are likely to sustain at the current levels of 27-28%.

Kotak Securities on Solar Industries

• Maintain Sell; Hike TP to Rs 11200 from Rs 10300
• All-round beat
• Defense growth on Pinaka; explosives aided by high ammonium nitrate prices+
• Order book of Rs 21400 cr provides strong medium-term visibility for defense
• Hike EPS estimate by 2-6%, reflecting strong execution during the quarter and faster-than-expected growth in the international explosives segment.

ALSO READ: Stock Market Today: Gift Nifty To Trump Tariffs — Five Key Factors That May Drive Sensex, Nifty 50 on August 14

Jefferies on Honasa

• Maintain Buy; Hike TP to Rs 650 from Rs 565
• Delivering Beat After Beat
• Strong momentum continues at Honasa, with delivery on both revenue & margins
• Mamaearth delivered high-teens growth
• Other products continued growing at a breathtaking pace
• Offline scale-up, Q/C share gains, and new wellness & fragrance bets support mgmt's growth & margin roadmap.

Citi on Honasa Consumer

• Maintain Sell; Hike TP to Rs 390 from Rs 320
• Strong Growth Momentum in Q1
• Sustainability Remains Key
• Mgmt. outlined fragrances and nutraceuticals as future growth vectors
• Sustained delivery will be critical amid intensifying competition
• Will also monitor the pace of margin expansion given ongoing reinvestment needs.

Jefferies on Max Financial

• Maintain with TP of Rs 2250
• Q1: Margin Surprise Drives Beat
• VNB of Rs 450 cr was 17% above estimates with VNB margin being 360 bps above estimates
• Better-than-expected margin was driven by a favourable product mix and yield curve
• APE/VNB growth of 15%/33% was ahead of private peers
• Expect Axis MaxL to deliver 18% VNB CAGR over the next 3 yrs, led by 16% APE CAGR and 140bps of margin expansion.

Bernstein on Max Financial

• Maintain Outperform with TP of Rs 2080
• Q1FY27 - Healthy growth, sharp margin expansion & deferred dilution
• Margin expansion was led by yield-curve movements, favorable mix shifts, and cost optimizations
• Company shared that the parent bank has increased its stake (desire to further hike their ownership)
• This will boost solvency and pushing out any potential capital raise plans for now. 

MS on Brainbees

• Maintain Equal-weight with TP of Rs 300
• Q1: Margin Miss; Improving India revenue growth
• Q1 India revenue growth improvement is structural
• Mgmt expects FY27 growth to stay elevated, aided by strategic initiatives
• India margins continue to see impact of competitive intensity in diapers and higher manufacturing costs
• Manufacturing margin losses to fully recover by Q2 via price pass-through
• Q1 saw improving trends in India growth, while margin improvement is awaited
• Stock could see some recovery after the weak trailing performance.

BofA India Strategy – Amish Shah

Q1FY27: Gaining momentum
Nifty: 97% Market cap, tracking +3% beat at +13% YoY
Broad earnings strength with selective weakness
Metals delivered the strongest beat
+13% YoY earnings growth for (NSE200)
Metals, Materials and Telecom saw relatively better growth
Staples & Discretionary reported earnings decline
Metals, Energy, Utilities and Industrials saw the highest earnings beat
Margins remained under pressure as companies could not fully pass on the cost increases and faced supply-chain disruptions
Expect a gradual recovery in coming quarters as these headwinds ease
See relatively stable commodity prices, improving supply chains and further price-hike passthroughs.

Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.