Brokerage Radar: Emkay upgrades Escorts Kubota, Antique raises Gravita's target price

Brokerage Radar

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes RIL, SBI, Divi's Laboratories and more.

Overweight Call, Target At `3,325/Sh

Cyclical Challenges, Especially In Refining & Retail, Likely To Continue, But Find This Priced In

In 2025, Re-rating Should Regain Traction As New Refining Capacity Is Absorbed

In 2025, Re-rating Should Regain Traction As Retail Profitability Improves & New Energy Cashflows Kick In

Reliance Ind Rises To Number 5 In Our Preference Order

Overweight Call, Target At `2,268/Sh

Co Has Received Contract From Maharashtra Discom (MSEDCL) Which Is For 40 Years

Plant Would Be Commissioned In 48 Months Post Signing Of Energy Storage Facility Agreement

Co Expects Annual Revenue Of `1,680 Cr

Project Could Generate An Equity IRR Of 15%, Assuming Capex Of `5 Cr/MW & 80/20 Debt:Equity

Buy Call, Target At `980/Sh

Time To Get Back Onboard; Top Banking Sector Pick

SBI Should Continue To Deliver Well On Asset Quality

Relatively Well-placed Amid Both Tougher Deposit Conditions & Potential Rate Cuts

Co Is Well-Placed On Potential Tighter Draft Regulations

Attractive Valuations At 1x FY26 P/BV (6.7x P/E)

Initiate Buy Call On HDFC AMC, Target At `5,000/Sh

Initiate Buy Call On Nippon, Target At `785/Sh

Initiate Neutral Call On UTI AMC, Target At `1,300/Sh

Long Runway To Grow

Strong Play On Financialisation Of Savings

Project An 18% CAGR AUM For Industry Over FY24-30, Led By Growth In Equity & Passive Segments

Growth Of ETFs Will Continue To Be Driven By Institutional Flows

Core Operating Profitability Likely To Moderate, Albeit Gradually

Initiate Buy Call, Target At `6,400/Sh

As Innovators Look To De-risk Supply Chains, Co Has Secured Its Place In GLP-1 APIs

GLP-1 APIs Can Be A $800 m+ Revenue Potential For Co By CY30

Co Is Likely To Be Key Beneficiary Of Supply Chain Diversification Trend

Innovators Are Placing More Confidence In The Company

FY26/27 EBITDA Is 3/12% Ahead Of Consensus, Primarily Driven By GLP-1 & New Products

Failure To Scale Up In Custom Synthesis Is Key Risk To Bear Case Target Of `5,100 – No Sales Of GLP-1

Buy Call, Target At `620/Sh

CNG Vehicle Base Is On Course To Grow By 9% This Yr Which Is Positive For Volume Growth Revival

End Of Road Tax Waivers On EVs In Delhi Could Impact Attractiveness

Volume Growth Revival Positive Includes CNG 2-Wheeler Sales Which Are Witnessing Traction

Concerns On Sharp Petrol/Diesel Price Cuts Have Abated Following Recent Upmove In Crude Prices

Upgrade To Buy, Target At `4,700/Sh

Valued At 30x Sep’26 PE + `320 Cash/Sh

Recently Concluded Monsoons Lifts Outlook For Upcoming Crop Cycles

Industry Base Turning Favorable

Intent To Increase Sourcing From India Key Mid-to-long Term Driver

Sector GDPI Was Flat YoY, With SAHI Growing At +26%, While Diversified Players Declined By 3%

ICICI Lombard Continues To Outperform As It Remains Key Beneficiary Of Reduced Competitive Intensity

Go Digit Continued Portfolio Recalibration With +5% YoY

TATA AIG Insurance Grew Strongly At +33% YoY, While Bajaj Allianz Slowed To -8%

Star Health, Which Grew By +18%, Underperformed SAHI

Buy Call, Target Raised To `2,920/Sh From `1,710/Sh

Co At Cusp Of Major Breakout On Back Of Multiple Growth Levers

Govt’s Regulatory Push Is One Of The Growth Levers

Setting Up Of Rubber Recycling SPV In Romania Is Another Growth Lever

Believe Volume/Rev/EBITDA/PAT CAGR Est Of 31%/28%/26%/30% Respectively Over FY24–27 Have Positive Upside

Increase FY25/26/27 EPS Estimates By 3%/8%/18%

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