Stock Recommendations Today: IndiGo, Dr. Reddy's, Tech Mahindra, Pharma On Brokerages' Radar

IndiGo, Dr Reddy's, Tech Mahindra are on brokerages' radar today. (Representative image: Envato)

IntergGlobe Aviation Ltd., Dr. Reddy's Laboratories Ltd., and Tech Mahindra Ltd. were among the top companies on brokerages' radar on Thursday.

CLSA's Laurence Balanco said that Nifty is looking to resume the original double bottom pattern that will support an upside target of 26,333.

While Citi has cut target price to Rs 1,040 from Rs 990, it has maintained 'sell' call for Tech Mahindra.

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

Citi maintained a 'sell' rating on Tech Mahindra with a target price of Rs 1,430.
Management remains highly focused on achieving a 15% EBIT margin target by financial year 2027.
Revenue momentum has been impacted by macroeconomic uncertainty and reduced discretionary spending.
Valuations at 28x/23x FY26E/FY27E consensus EPS suggest that much of the expected improvement is already priced in.

Citi maintained a 'sell' rating on Dr. Reddy's and reduced the target price from Rs 1,040 to Rs 990.
The GLP-1 market in Canada appears to be adequately penetrated, with limited further growth potential.
Expectations for generic Semaglutide seem overly optimistic.
A revenue drag of $750–780 million from the decline in gRevlimid sales and lower PLI incentives will be difficult to offset.
Dr. Reddy's has been added to Citi's Pan-Asia Focus List.

Citi maintained a 'neutral' rating on Ajax Engineering with a target price of Rs 690.
Demand is expected to remain muted in the first half of the fiscal.
Despite heightened competitive intensity, there have been no price cuts.
The company is transitioning to CEV Stage V emission norms.
Ajax remains open to mergers and acquisitions if they are financially viable.
Promoters are not in a hurry to reduce their stake to the 75% regulatory threshold.

Investec maintained a 'buy' rating on Stylam Industries with a target price of Rs 2,113.
The company's ongoing capacity expansion is expected to be commissioned by October 2025.
The domestic segment is projected to achieve 15% revenue growth.
Export revenues are expected to grow by 20%, with Ebitda margins of approximately 16–18% for FY26.
The company expects limited impact from tariffs and is confident in passing on costs and converting orders from its book.

A recent investor roadshow in the UK and EU revealed sustained high interest in the Indian telecom market.
Investor appetite remains strong for Bharti Airtel, driven by solid growth and market share gains.
Bharti is widening its ARPU premium over Reliance Jio, prompting discussions around upside potential and a possible RJio IPO.
Indus Towers is also drawing interest due to its low valuation, upcoming dividend, and Vodafone Idea's ongoing 4G/5G rollout.
Tata Communications is gaining traction with its enterprise business, which offers an estimated 15% Ebitda CAGR.
Hexacom's premium valuation could trigger some selling pressure.
CLSA says Bharti Airtel, Indus Towers, and Tata Communications are likely to attract further investor interest.

B&K initiated coverage on IndiGo with a 'buy' rating and a target price of Rs 7,256.
India remains significantly under-penetrated in terms of air travel, suggesting strong long-term growth potential.
Aircraft supply constraints are expected to keep demand higher than supply.
The Indian aviation industry structure supports sustained profitability.
IndiGo stands out for its customer-centric approach and strong cost leadership.
The airline is projected to deliver Ebitda and profit CAGR of 20% and 22%, respectively, over financial year 2025–27.

CLSA's Technical Analyst Laurence Balanco notes that the Nifty appears poised to resume its original double-bottom pattern, which supports an upside target of 26,333.
Indus Towers, Shriram Finance, and Chola Finance are recommended as buy candidates based on current price action.

Jefferies met with five Indian CRDMO firms last week and reported strong momentum driven by Big Pharma's geographic diversification.
Indian CRDMOs with small molecule expertise are benefiting, though growth is expected to be uneven as many projects are still in clinical phases.
The ADC-related CDMO market is expanding, with Indian companies actively exploring opportunities in this segment.
GLP-1 is seen as a potential growth driver for generic CDMOs starting from 2026.
Piramal Pharma is witnessing diversified growth across both CDMO and generic segments.
Syngene is targeting growth but still has significant operational work ahead.
Laurus Labs remains bullish on opportunities from Big Pharma partnerships.
Cohance is developing a technology-led platform to strengthen its position.
Gland Pharma is aiming to return to a strong growth trajectory.

Unlock this article for free