Stock Recommendations Today: MCX, Titan, IEX, Consumer Staples On Brokerages' Radar

Multi Commodity Exchange of India Ltd., Titan Ltd., Indian Energy Exchange Ltd. were among the top companies on brokerages' radar on Wednesday.

JPMorgan is cautiously optimistic on demand outlook. The brokerage also added that adverse seasonality could impact the first quarter for some categories.

While UBS has hiked the target price for MCX, Bernstein has upgraded IEX to market-perform from underperform.

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

Macquarie on Titan

• Macquarie maintains an Outperform rating on Titan with a target price of Rs 4,150.

• The brokerage expects healthy demand to drive jewellery growth in first quarter.

• It believes that jewellery EBIT margins bottomed out in financial year 2025.

• Macquarie estimates over 20% growth in both jewellery sales and EBIT for first quarter.

Bernstein on IEX

• Bernstein upgrades IEX to Market-Perform from Underperform and raises the target price to Rs 160 from Rs 152.

• For the past three years, its negative stance was due to regulatory concerns and volume growth issues.

• The upgrade is driven by strong volumes and some support from the derivatives segment.

• Bernstein estimates a 50% probability for market coupling, which it believes is partially priced in by the stock.

• Further rating changes will depend on greater clarity on market coupling or a significant price movement.

Jefferies on JSW Energy

• Jefferies maintains a Buy rating on JSW Energy with a target price of Rs 700.

• The company has already surpassed its financial year 2025 capacity target of 10 GW, which was set in financial year 2021.

• The new financial year 2030 capacity target is now increased to 30 GW from 20 GW earlier.

• JSW Energy unveiled its “Strategy 3.0” in financial year 2025, focused on prudent capital allocation.

• Improvement in the net debt-to-EBITDA ratio is seen as a key element for potential re-rating.

Citi on Reliance Industries

• Citi maintains a Buy rating on RIL and raises the target price to Rs 1,690 from Rs 1,585.

• It believes the market is overly focused on tariff hikes for Jio and overlooks other structural growth drivers.

• Citi projects a 3-year consolidated Ebitda CAGR of 16% for Jio Platforms.

• Jio Platforms is valued at an enterprise value of $135 billion.

• Citi asserts that the telecom sector in India has a long growth runway, unlike mature markets.

BofA on Paints

• BofA notes that Birla management sees a mixed competitive response, with significant aggression from some incumbents.

• There is an increased focus on the economy segment, which has seen deep discounting.

• Birla Opus offers 10% extra volume and slightly better margins than competitors to dealers.

• A large dealer network is already in place, and the company is now focusing on consolidation.

• The company targets Rs 10,000 crore in revenue and Ebitda break-even by end of financial year 2028.

HSBC on Agri-Inputs

• HSBC observes early sowing trends are encouraging with a 10% year-on-year increase.

• The trend is expected to continue, supported by monsoon pick-up in the second half of June.

• The fundamental outlook for the agri-input sector remains positive, barring any major rainfall disappointments.

Stock ratings and target prices:

• UPL: Buy, target price Rs 775

• Dhanuka Agritech: Buy, target price Rs 1,850

• Bayer CropScience: Hold, target price Rs 5,500

• Rallis India: Reduce, target price Rs 210

JPMorgan on Consumer Staples

• JPMorgan maintains a cautiously optimistic view on demand but warns that first quarter could be affected by adverse seasonality.

• Financial year 2026 revenue growth is expected to be driven by modest pricing gains and improved volume growth.

• The competitive intensity across categories is increasing.

• Margins face risk due to raw material price volatility.

• Companies are selectively pursuing M\&A to strengthen portfolios.

• Distribution strategies are evolving, requiring investment in capability building, conflict resolution, and supply chain strengthening.

UBS on MCX

• UBS maintains a Buy rating on MCX and raises the target price to Rs 10,000 from Rs 7,000.

• The brokerage cites favourable market dynamics and upcoming product launches as key positives.

• Volatility in key commodity prices is expected to boost trading volumes.

• UBS notes an improvement in the pace and visibility of new product launches.

• In first quarter, average daily volumes were strong, with futures up 50% quarter-on-quarter and options premium up 30%.