Stock Recommendations Today: What Brokerages Are Saying About HCLTech, Ola Electric, Kalyan Jewellers And More

HCLTech Ltd, Ola Electric Mobility Ltd., Kalyan Jewellers Ltd., Sun Pharmaceutical Ltd. were among the top companies on brokerages' radar on Tuesday.

Analysts have shared their views on HCLTech, Tata Technologies Ltd. and Ola Electric's June quarter earnings.

JM Financial initiated a 'buy' rating on Kalyan Jewellers, given the large opportunity for the company in India's huge unorganised market. The firm also started coverage on Ventive Hospitality.

NDTV Profit tracked analysts' views on various stocks and sectors. Here are the analyst calls to keep an eye out for today.

JPMorgan

• Downgrade to 'Neutral' from 'Overweight'; Cut target price to Rs 1,700 from Rs 1,800.

• AI-driven deflation is manifesting through margin erosion.

• FY26 revenue growth guide revised upwards.

• Near-term price action has baked in the relative growth strength.

Jefferies

• Upgrade to 'Buy' from 'Hold'; Hike target price to Rs 1,850 from Rs 1,490.

• Superior growth outlook; Lower end of guidance raised.

• Accelerated investments in growth led to a margin guidance cut.

• Expect 10% EPS CAGR over FY26-28.

• Investments should support premium valuations.

Nuvama

• Downgrade to 'Hold' from 'Buy'; Cut target price to Rs 1,630 from Rs 1,700.

• Weak margins leave limited upside potential.

• Q1 seasonality impacted growth; margins are a shocker.

• Continue to like HCLTech's revenue growth profile as it remains the fastest-growing.

Citi

• Maintain 'Neutral'; Cut target price to Rs 1,650 from Rs 1,690.

• EBIT of 7% below expectations and the deal pipeline is weak.

• The result was decent on revenue but light on margins and TCV.

• Result will also raise some questions on margin risks.

• Maintain our cautious view on the sector.

• Initiate 'Buy' with a target price of Rs 700.

• Huge unorganised market providing a large growth opportunity.

• Moats built earlier will drive future growth.

• Asset-light mode of store expansion.

• Expect revenue, Ebitda and profit CAGR of 25%, 23% and 31% over FY25-28.

• Maintain 'Overweight' with a target price of Rs 1,960.

• The US launch and settlement for Leqselvi is positive.

• The launch, expected in the second half of fiscal 2026, happened earlier, supporting the overweight thesis.

• Project Leqselvi's sales at $61 million for FY26 and $83 million for FY27.

BofA Securities

• Maintain 'Underperform' with a target price of Rs 45.

• A comeback quarter was observed, but challenges on growth and market share remain.

• Gross margin delivery has positively surprised the market.

• The battery plan scale-down is considered a sound capital decision.

• More markers need to be tracked on the road to turn constructive.

Goldman Sachs

• Maintain 'Buy' and hike target price to Rs 63 from Rs 60.

• Management guides for flattish FY26 revenues and a 5%+ Auto Ebitda margin.

• Acknowledge management’s efforts in trying to pivot the business towards positive Ebitda and Free Cash Flow (FCF) breakeven.

• The market may need more visibility on volume growth and market share execution.

Kotak Securities

• Maintain 'Sell' with a target price of Rs 30.

• Losses are narrowing sequentially, though volume off-take remains weak.

• Sales outperformed expectations, primarily driven by backlog clearance.

• The company also outperformed Ebitda expectations, but volumes continue to be a cause for concern.

• Muted industry growth and increased competitive intensity remain significant areas of concern.

• Maintain 'Overweight' with a target price of Rs 7,185.

• MSN could launch the generic version of Entresto in the US as early as July 16, 2025.

• Global sales of the API for Entresto equate to around 15% of Divi's FY25 sales; US sales of the generic could represent about 50% of that figure.

• Novartis had previously guided that generic competition for Entresto in the US could commence in mid-July 2025.

• The investment thesis for Divi's is believed to be shifting from its reliance on Entresto towards new opportunities in contrast media and GLP-1 (Glucagon-Like Peptide-1) therapeutics.

• Initiate 'Buy' with a target price of Rs 890.

• The company is well positioned to benefit from industry tailwinds in India and Maldives.

• Multiple levers are expected to drive strong Ebitda growth over FY25-FY28.

• Robust free cash flows provide the financial strength to aggressively pursue acquisitions.

• Estimate revenue and Ebitda CAGR of 13% and 15% respectively over FY25-28.

• Maintain 'Underweight'; Cut target price to Rs 570 from Rs 580.

• The Q1 performance was mixed, with revenues exceeding expectations but margins falling short.

• Deal closures and ramp-ups showed gradual improvement from April to June.

• This trend is expected to continue in Q2 as clients recognise the necessity to restart R&D spends following a period of pause.

• We would wait for similar proof points on Auto Engineering R&D (ER&D) from peers to confirm if the demand improvement is a broad-based trend.