Stock Recommendations Today: BSE, Vodafone Idea, HAL, ITC On Brokerages' Radar

Bombay Stock Exchange Ltd., Vodafone Idea Ltd. and Hindustan Aeronautics Ltd. were among the top companies on brokerages' radar on Tuesday.

Further, Citi in its note said that there is a low probability of US imposing tariffs on Indian pharma companies. If there is any tariff, then the brokerage expects it to be at 10%.

In addition, Goldman Sachs expects a sluggish trend to continue in the QSR business but expects recovery in the first half of financial year 2026.

NDTV Profit tracks what analysts are saying about various stocks and sectors. Here are the analyst calls to keep an eye out for on Tuesday.

• Citi continues to assign a low probability to the scenario of the US imposing tariffs on Indian pharmaceutical companies.

• In a worst-case scenario analysis, a tariff of 10% could be imposed.

• Companies with high exposure, including Zydus, Dr. Reddy’s, and Aurobindo, could experience a 9-12% Ebitda impact.

• If a portion of the tariffs is passed on to buyers, the Ebitda impact could reduce to 5-6%, though full pass-through remains difficult.

• Companies with lower exposure, such as Torrent, Sun Pharma, and Divi’s, may face a smaller impact of 1-3%.

• In the fourth quarter, Morgan Stanley advises against buying dips.

• The financial year 2026 revenue outlook is expected to be in line with or slightly disappointing.

• There is a likelihood of delays in decision-making.

• Given the growth overhang, microeconomic factors may be more influential than macroeconomic trends.

• Valuation multiples are likely to become polarised.

• Demand trends remain sluggish, with recovery expected in the first half of fiscal 2026.

• No significant improvement in underlying demand trends is expected in the fourth quarter of financial year 2025.

• Weak urban activity continues to indicate low demand for QSRs.

• Potential income tax cuts starting in Q1FY26 could serve as a catalyst for recovery.

• Jubilant FoodWorks– Maintain Neutral and hike target price to Rs 700 from Rs 690.

• Devyani International– Maintain Buy and hike target price to Rs 210 from Rs 200.

• Sapphire Foods– Maintain Buy and hike target price to Rs 410 from Rs 400.

• Westlife Foodworld– Maintain Buy and hike target price to Rs 1,000 from Rs 920.

• Conversion of government dues into equity is considered a last resort after multiple setbacks.

• Vodafone Idea has improved prospects for debt-raising due to stronger government support and better cash flow.

• Free cash flow generation remains inadequate to cover government payments.

• Government holdings in telecom firms are likely to increase further.

• This is a positive development for Indus Towers.

• Jio and Bharti are expected to continue gaining revenue market share.

• Bharti Airtel and Hexacom remain IIFL’s top stock picks.

• Maintain Buy and raise the target price to Rs 5,440 from Rs 4,800.

• Financial year 2025 ended with a strong beat on order inflow and revenue acceleration.

• The awarding of an order for 156 Prachand helicopters was a positive surprise.

• Delivery of the LCA Mark 1A Tejas aircraft is expected to drive profit and loss (P&L) ramp-up over the next three years.

• There has been an acceleration in government decision-making regarding defence procurement.

• Maintain Neutral and hike the target price to Rs 4,690 from Rs 4,230.

• SEBI has proposed limiting index options expiries to Tuesdays and Thursdays.

• The regulator believes spaced-out expiry days reduce concentration risk and increase product differentiation.

• If enacted, these changes are expected to be positive for BSE.

• Maintain Overweight rating but cut target price to Rs 475 from Rs 505.

• Earnings forecasts have been lowered due to margin headwinds.

• Price hikes in the cigarette segment remain elusive.

• Cigarette taxation remains stable, which is a positive, though competition needs to be closely watched.

• Paper segment margins face near-term challenges.

• Agri-business is on solid footing.

• Other FMCG segments are expected to witness a gradual recovery in financial year 2026.

• Maintain Buy with a target price of Rs 3,448.

• The divestment of the paper business is seen as a step towards stronger growth.

• The company is preparing for a new round of business development.

• Capital is being reallocated from low-growth businesses to high-growth ventures.

• Aditya Birla Real Estate remains a top pick.

Macquarie

• Maintain Neutral with a target price of Rs 7.

• The company faces significant equity dilution, acting as a financial bandage.

• While net debt will decrease, gearing is expected to remain high at nearly 10x net debt/TTM Ebitda.

• Free cash flow generation remains insufficient to organically meet debt obligations.

• Significant additional equity dilution remains a key risk for minority shareholders.

Citi

• Maintain Buy (High Risk) with a target price of Rs 12.

• Vodafone Idea has been added to Citi’s 90-Day Catalyst Watch list.

• The firm sees strong progress in resolving long-pending bank debt issues.

• The recent government equity conversion announcement improves the likelihood of a debt raise.

• The ongoing rollout of 5G services in select cities could enhance investor sentiment.

• Maintain 'Equal-weight' with a target price of Rs 685.

• February's spending market share remained flat month-over-month at 15.7%.

• February spending for SBI Cards declined 9.7% MoM, compared to a 9.2% decline for the industry.

• SBI Cards' market share of credit cards in force stood at 18.9% as of February 2025, up 26 basis points YoY and 9 basis points MoM.

• Aggregate daily spending in March was up 11% YoY, compared to 6% in February and 7% in January 2025.

• Maintain Buy with a target price of Rs 1,990.

• Management is focused on ensuring an adequate compressor supply through both domestic sourcing and imports.

• Compressor inventory is expected to be sufficient unless demand surges by over 60% YoY.

• A strong start to summer has led to increased inventory stocking by channel partners.

• Voltas remains committed to being a mass brand, prioritising volume growth over pricing and focusing on absolute PAT growth.

• After a 20% year-to-date dip, Voltas trades at 41x financial year 2026 estimated earnings, below its 5-year average valuation.

• Maintain Buy with a target price of Rs 470.

• Indus Towers has been added to Citi’s 90-Day Catalyst Watch list.

• Dividend payouts are expected to resume.

• Significant progress is anticipated on Vodafone Idea’s debt raise.

• Indus Towers is expected to deliver a core EBITDA compound annual growth rate of 10%, supported by a tenancy CAGR of 8%.

• The stock's implied dividend yield of 5-7% makes it a compelling investment opportunity.

• Maintain Overweight with a target price of Rs 1,115.

• The company is considering acquiring a health insurer, with reports suggesting a valuation of ManipalCigna at 7.3x-7.7x P/B based on December 2024 book value.

• The potential acquisition is relatively small in scale.

• It may take at least a couple of years for the acquisition to deliver meaningful value.

• LIC is expected to leverage its strong agency distribution network to scale its health insurance business.

• The company’s initial pricing strategy for health insurance could be competitive and disruptive in the market.

• However, controlling the health loss ratio will be a key challenge for LIC.