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HDFC Securities Institutional Equities
Tata Steel, Divi's Laboratories, Indian Oil Corporation (IOCL), Muthoot Finance, Aditya Birla Capital, Shree Cement, Dixon Technologies, Aptus Value Housing Finance and Clean Science & Technology are among the stocks in focus after HDFC Securities released its latest post-Q1 FY27 reviews, retaining a bullish stance on select names while remaining cautious on others.
HDFC Securities reiterated its Buy rating on Tata Steel with a target price of Rs 250, citing a 16-quarter-high consolidated Ebitda margin in Q1 FY27 driven by strong pricing gains and robust domestic demand. The brokerage expects cost savings to accelerate in the second half of FY27, supporting earnings growth.
On the other hand, the brokerage maintained a Reduce rating on Dixon Technologies, despite raising its target price to Rs 12,660. The brokerage noted that the expiry of the PLI 1.0 scheme hurt margins, while current valuations remain demanding despite long-term growth opportunities from display manufacturing, exports and the Vivo joint venture.
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