Stock Picks Today: Tata Steel, Voltas, Vodafone Idea, Solar Industries, HAL And More On Brokerages' Radar

Brokerages rolled out fresh calls on Tata Steel, Voltas, Vodafone Idea, Solar Industries India and Hindustan Aeronautics, while also tracking opportunities across defence, renewable energy, engineering and industrials.

MS on Tata Steel

• Maintain Overweight with TP of Rs 215
• Strong results across domestic and overseas businesses
• Outlook supported by higher India steel prices
• UK and EU policy support seen aiding outlook
• Management focused on cost savings and downstream expansion

Citi on Tata Steel

• Maintain Sell; Hike TP to Rs 200 from Rs 180
• Q1 realizations expected to improve QoQ
• Further steel price hikes seen unlikely
• Netherlands regulatory issues may increase costs

GS on Tata Steel

• Maintain Neutral; Hike TP to Rs 218 from Rs 210
• Realization uptick across regions supported earnings
• Netherlands-related uncertainty remains a monitorable

Citi on SAIL

• Maintain Sell; Hike TP to Rs 180 from Rs 135
• Q4 performance strong
• EBITDA per tonne may have peaked
• Debt-to-EBITDA ratio could rise

MS on SAIL

• Maintain Underweight with TP of Rs 140
• EBITDA below expectations
• Weak volumes and realizations weighed on performance
• Q1FY27 margins may improve due to higher steel prices
• FY27 volume guidance seen optimistic

MS on Voltas

• Maintain Equal-weight; Cut TP to Rs 1,349 from Rs 1,409
• Strong RAC franchise and distribution network remain positives
• Competitive intensity remains elevated
• Commodity cost volatility could slow margin recovery

BofA on Voltas

• Maintain Buy with TP of Rs 1,450
• Earnings miss driven by margin pressure
• Price hikes expected going ahead
• Risk-reward remains favourable

Citi on Vodafone Idea

• Maintain Buy/High Risk with TP of Rs 14
• KPIs improving steadily
• AGR reset and promoter support improve funding visibility
• Equity infusion signals promoter confidence
• Bank funding closure could accelerate

GS on Delhivery

• Maintain Neutral; Hike TP to Rs 480 from Rs 420
• PTL volumes rose 20% YoY
• Realizations remained stable
• Growth in other business segments weak
• EBITDA below estimates
• Valuations already reflect improvement expectations

Kotak Securities on Premier Energies

• Maintain Reduce; Hike TP to Rs 900 from Rs 790
• Capacity expansion remains on track
• Among India's largest integrated solar players
• Delay in BESS commissioning seen as a negative
• KSolare inverter acquisition did not materialise

ICICI Securities on Sedemac Mechatronics

• Initiate Buy with TP of Rs 2,350
• Seen as a rare tech-moat play
• Electrification trends in 2Ws and 3Ws favourable
• Strong positioning in ISG adoption
• Revenue and EBITDA CAGR estimates at 41% and 47% over FY25-28
• Return ratios expected to remain above 30%

Kotak Securities on Cochin Shipyard

• Maintain Sell with TP of Rs 830
• Weak quarterly performance
• Progress on partnerships and JVs key monitorables
• Landing platform dock order seen important amid IAC-2 uncertainty

Kotak Securities on Aether Industries

• Downgrade to Reduce from Add; Hike TP to Rs 1,060 from Rs 1,050
• Growth outlook remains intact despite weak Q4
• Fire impact and input costs weighed on results
• Debt expected to rise further

GS on Solar Industries

• Maintain Buy; Hike TP to Rs 19,590 from Rs 18,900
• Q4 results surpassed estimates
• Robust guidance may act as key catalyst
• Ammonium nitrate price cooling may impact FY28 growth

GS on Data Patterns

• Maintain Buy; Hike TP to Rs 4,165 from Rs 3,650
• Mixed quarterly performance
• Robust earnings outlook maintained
• Strong order book pipeline
• Export opportunities supported by integrated business model

GS on Azad Engineering

• Maintain Buy; Hike TP to Rs 2,460 from Rs 2,200
• Existing order book to support near-term growth
• Macro tailwinds remain favourable
• Key opportunities seen from hot engine component supplies and ATGG engines

Nomura on Apollo Tyres

• Maintain Neutral; Cut TP to Rs 452 from Rs 543
• EBITDA beat estimates in Q4
• Demand recovery risks remain due to inflation
• Elevated capex and lower margins may impact free cash flow

JPMorgan on Hindustan Aeronautics

• Maintain Overweight; Cut TP to Rs 5,145 from Rs 6,004
• LCA delivery delays remain an overhang
• Management targeting double-digit growth in FY27
• Manufacturing expected to lead growth
• Valuations seen attractive given order book and return ratios

HSBC on Nestle India

• Maintain Hold with TP of Rs 1,410
• H2FY26 growth supported by low base and GST cuts
• Maggi relaunch and chocolate growth aided performance
• Further acceleration dependent on MPN segment growth
• Risk-reward seen unfavourable

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