Stock Picks Today: Urban Company, Swiggy, Kaynes Tech And More On Brokerages' Radar

A host of global and domestic brokerages have released fresh views on Urban Company Ltd., Swiggy Ltd., Kaynes Technology Ltd., Siemens Energy Ltd. and Delhivery Ltd. ahead of Thursday's session.

They have also outlined sector trends across auto and steel sectors.

• Morgan Stanley maintains an Underweight rating with a target price of Rs 119.

• India’s consumer services segment continues to show strong traction.

• Management sees potential for Instahelp to shift from secondary help to becoming a primary support tool.

• International operations are showing strong growth, with breakeven in the UAE and Singapore expected ahead of the Indian market.

• Macquarie maintains an Underperform rating with a target price of Rs 290.

• Recent fund-raises by Swiggy and Zepto, alongside rising competitive intensity, are seen as problematic.

• Between 30% and 50% of the newly raised capital is likely to be spent on customer engagement through discounts and incentives.

• The focus is shifting away from customer acquisition towards defending engagement.

• Nomura maintains a Buy rating but cuts the target price to Rs 5,455 from Rs 8,478.

• The company has realigned its growth target due to challenges in the smart meter segment.

• Improvement in cash flow remains a key monitorable.

• Recovery in growth outside the smart-meter segment could serve as a catalyst.

• Growth drivers may need reassessment due to the significant drag from working capital.

• Nomura has lowered its valuation multiple, cutting target P/E to 35 times from 50 times previously due to the weaker growth outlook.

• JPMorgan maintains an Overweight rating with a target price of Rs 193.

• The long-awaited Neelachal capacity expansion has been approved.

• Multiple strategic growth projects and partnerships have been outlined.

• The Neelachal expansion will strengthen the company’s long products portfolio.

• The partnership with Thriveni will help secure a pellet-making facility for iron ore pellet supply.

• The MoU with Lloyds Metals is a comprehensive strategic partnership that should help Tata Steel become a prominent player in western India.

• Capital expenditure is expected to be spread over at least three to five years.

• JPMorgan views the announcement positively as it accelerates Tata Steel’s India growth plans.

• The developments provide improved visibility on the company’s market share trajectory.

• HSBC states that it is time to revisit India.

• Earnings are recovering, fund positions are light, and valuations have normalised.

• Supported by lower inflation, tax reforms and easier monetary policy, HSBC believes Indian equities will be in a stronger position in 2026.

• The worst of the earnings downgrades appears to be behind us.

• Recent results have strengthened HSBC’s confidence in India’s growth outlook.

• India’s valuation premium over other emerging markets has returned to normal levels.

• HSBC also anticipates more foreign flows as funds diversify beyond AI-focused sectors in Asia.

• Across sectors, HSBC favours Financials, Consumer Discretionary, Energy and Telecoms.

• The strategy highlights ten key stock ideas.

• Stocks riding industry tailwinds include Kalyan Jewellers, M&M, SBI and ICICI Lombard.

• Attractive risk–reward ideas include Infosys, Phoenix Mills and Marico.

• Top choices in less-favoured sectors include Hindalco, Apollo Hospitals and Adani Ports.

• Jefferies maintains a Buy rating with a target price of Rs 4,000.

• Order flow outlook remains robust, and gross margins appear sustainable.

• Operating leverage is expected to drive a 254-basis-point margin expansion to 21% over financial year 2025–2027.

• An earnings CAGR of 49% over fiscal 2025–2027 is expected to support further upside.

• Morgan Stanley maintains an Equal-weight rating with a target price of Rs 450.

• Management expressed confidence in maintaining strong organic growth in express parcels.

• Delhivery expects to sustain strong volume growth in PTL in financial year 2026, implying a stronger second half.

• The pricing outlook is stable and more favourable than earlier.

• Avendus Spark initiates coverage with a Buy rating and a target price of Rs 750.

• India’s electric two-wheeler market is viewed as being at an inflection point.

• Premiumisation, platform shifts and the emergence of software-defined two-wheelers are key trends.

• Broader OEM participation is expected to accelerate electric two-wheeler adoption.

• Battery risk solutions and ecosystem development are improving EV-readiness.

• Ather is characterised as a software-defined OEM focused on the upgrader and premium buyer segment.

• Expansion of distribution beyond southern India is expected to unlock volume growth.

• Dealer maturity and rising attach rates are strengthening Ather’s average selling price outlook.

• Jefferies expects India’s recent underperformance versus emerging markets to reverse.

• Relative valuations are now around average, and the worst appears to be over for INR and earnings.

• Earnings growth is projected at 16% in fiscal 2027, led by autos, banks, power and consumer.

• Domestic flows remain strong, but large equity supply and elevated valuations could limit returns.

• Jefferies favours banks, autos (especially two-wheelers), cement, power, telecoms, hospitals, property, lodging and travel, and cross-sector EMS/durables for 2026.

• Jefferies remains cautious on consumer, IT and chemicals, while being selective in financial services and pharma.

• Avendus Spark initiates coverage with a Buy rating and a target price of Rs 435.

• The company has shifted from wholesale-focused businesses to a more granular MSME and retail-driven platform.

• Its NBFC and housing finance arms are scaling up with stronger capital support, tighter risk frameworks and cleaner asset quality.

• Lending engines are run by experienced ex-bankers.

• A distinctly bank-like approach is evident in credit decisions and portfolio management.

• BofA states that two-wheelers continue to ride in the fast lane.

• Industry optimism is already priced in.

• Market share delivery will be key for stock performance.

• Two-wheeler sector outlook is improving and ABS-related risks have receded in the near term.

• Eicher Motors is preferred as a growth pick and BofA maintains a Buy rating with a target price of Rs 7,750.

• BofA maintains a Neutral rating on Bajaj Auto with a target price of Rs 9,300.

• BofA maintains a Neutral rating on Hero MotoCorp and raises the target price to Rs 6,450 from Rs 5,900.

• BofA maintains a Neutral rating on TVS Motor with a target price of Rs 3,825.

• JPMorgan notes that November data indicates domestic steel prices may remain soft.

• Domestic prices are expected to stay range-bound.

• Steel production is currently running ahead of consumption.

• India’s steel consumption growth has lagged production every month since March 2025.

• The safeguard duty decision will be a key monitorable, with domestic spot HRC prices now 8% below Q2 levels.

• The pace of steel consumption growth in the seasonally strong fourth quarter and the safeguard duty decision will be important for investors.

• JPMorgan prefers Tata Steel within the sector due to the recovery in European spreads.