Stock Recommendations Today: Marico, Trent, Tech Mahindra, Bank Of Baroda On Brokerages' Radar

Marico Ltd., Trent Ltd., Tech Mahindra Ltd., Bank Of Baroda and financial companies were among the top companies on brokerages' radar on Friday.

Analysts have reviewed the first-quarter business performance of these companies, besides that of L&T Finance and Bajaj Finance Ltd.

Macquarie has maintained its stock rating on Tech Mahindra but the target price has been raised to Rs 1,090.

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

Morgan Stanley

• Maintained 'equal-weight' with a target price of Rs 674.

• First quarter top-line growth of 20%; VAHO saw strong recovery.

• Demand trends were consistent with improving rural and steady urban.

• Domestic volume growth continues to see sequential improvement.

• Gross margin to remain under incremental pressure.

Macquarie

• Maintained 'outperform' with a target price of Rs 790.

• Pre-Q1: Sequential uptick in India volume growth to multi-quarter high.

• Low-twenties consolidated sales growth and modest Ebitda growth.

• Largely inline pre-quarterly update.

Morgan Stanley

• Maintained 'underweight' with a target price of Rs 235.

• Domestic loan growth moderated to 12.4% YoY versus 13.7% YoY last quarter – above system.

• Domestic deposit growth moderated to 8.1% YoY versus 9.3% YoY – below system.

• Loan-to-deposit ratio of 82% is elevated and could weigh on loan growth if deposit growth stays muted.

Nomura

• Maintained 'neutral' with a target price of Rs 235.

• Growth trends in both loans and deposits in Q1 were weak.

• These, coupled with contraction in margins and seasonally soft fee income, are expected to result in a weak core PPOP in Q1.

• Strong treasury income, led by a 26 bps QoQ decline in G-sec (10-year) yield, should provide some cushion to overall profitability.

• Maintained 'underperform' with target price hiked to Rs 1,090 from Rs 1,050.

• 15% EBIT margin target by FY27 will be a very tough ask, expect only 12.5-13.5% is achievable.

• Years of underinvestment in sectors outside telecom a tough fix.

• Incumbency is a disadvantage for Tech Mahindra with telecom clients.

• Added Tech Mahindra to 'Marquee Sell' ideas.

• Sees LTI Mindtree as far more attractively positioned.

Jefferies

• Maintained 'buy' with a target price of Rs 1,044.

• Healthy growth despite softer market trends.

• Growth is encouraging as it comes in a quarter when sales of consumer durables were down.

• AUM growth may have been aided by better trends in other segments, including cross-sell of personal loans and SME loans.

• Healthy asset growth and easing fund cost can aid earnings and valuations.

UBS

• Maintained 'sell' with a target price of Rs 720.

• AUM growth of 24.6% YoY in guided range of 24-25% though continued deceleration to 15-quarter low.

• Bajaj Housing loan and distribution growth at 24% and 22% YoY, which is inline with estimates.

• Asset quality and commentary on growth will be key to track.

• Maintained 'overweight' with a target price of Rs 133.

• Store expansion pace remains steady.

• Store additions skewed more towards virgin territories and smaller towns.

• Incremental cannibalisation risk on SSSG is likely to be lower.

• Only ~2 stores have come in the existing pin codes during the quarter.

• Maintained 'neutral' with a target price of Rs 210.

• Q1 business update: In-line AUM growth, beat on disbursement.

• MFI disbursement grew 10% QoQ indicating favourable mix in Q1 over Q4.

• Commentary on MFI and asset quality is key.

• Maintained 'buy' with a target price of Rs 185.

• 90-day pause on reciprocal tariffs in the US is set to end on July 9.

• This creates uncertainty in Welspun's largest market.

• Future tariffs will depend on progress in trade deal talks between India and the US, where the news flow remains mixed.

• Tariffs relative to competing countries remain the key, as they are also in trade negotiations with the US currently.

Macquarie

• Maintained 'outperform' with a target price of Rs 7,200.

• Highlights from Trent's 2025 annual general meeting.

• Q1 revenue of Rs 5,000 crore, implying 20% YoY growth.

• Focus on adding at least 250 stores for FY26.

• Target of achieving 25-30% growth for FY26.

Nuvama

• Downgraded to 'hold' with a revised target price of Rs 5,884 (earlier Rs 6,627).

• Disappointed on near-term growth expectations in core fashion business.

• Cutting FY26 and FY27 revenue by 5% and 6% and Ebitda by 9%/12%.

• Pickup in Zudio Beauty and the Star business can become the next big growth levers.