Key Analyst Insights on Top Indian Companies
Several leading Indian companies are currently under the spotlight as analysts share their insights on their recent performance and future outlook. Among these, Wipro Ltd., Axis Bank Ltd., The Indian Hotels Co., and HDFC Asset Management Co. have attracted significant attention from brokerage houses. Here’s a detailed look at the analyst calls for these companies.
Wipro Ltd.
Morgan Stanley has maintained an ‘Equal-weight’ rating for Wipro, with an increased target price of Rs 285 from Rs 265. The firm noted that the company’s IT Services Q1 performance exceeded expectations, and its Q2 guidance was in line with forecasts. Strong large deal wins are expected to drive growth in the second half of the fiscal year. Additionally, improved capital allocation strategies could support a re-rating of the stock.
Jefferies, however, maintains an ‘Underperform’ rating for Wipro, with a target price hike to Rs 235 from Rs 200. While the overall outlook is improving, the firm believes the potential for upside is limited. Revenues are facing pressure due to challenges in large verticals, but a healthy pipeline of deal wins is expected to improve future revenue.
HDFC Asset Management Co.
Morgan Stanley has raised its target price for HDFC AMC to Rs 4,910 from Rs 4,470, maintaining an ‘Equal-weight’ rating. The company reported a strong first quarter, with operating profit in line with expectations. The firm also highlighted that HDFC AMC is benefiting from commission rationalization efforts initiated in FY25. However, it finds the current valuation expensive from a longer-term perspective.
Jefferies has upgraded its rating to ‘Buy’ with a target price increase to Rs 6,100 from Rs 5,000. The firm cited strong Q1 results, driven by Mark-to-Market (MTM) gains and robust flows. Healthy AUM growth and steady market shares were also noted, along with positive operating profit and non-core income. The firm expects a 16% CAGR in operating profit over FY25-28.
The Indian Hotels Co.
Macquarie has maintained a ‘Neutral’ rating for The Indian Hotels Co. with a target price of Rs 800. The firm noted the company’s resilient Q1 performance and higher capital expenditure. However, the capex guidance for FY26 and the next five years was considered disappointing.
Jefferies has maintained a ‘Buy’ rating, though it reduced the target price to Rs 960 from Rs 980. The company delivered a decent performance despite a turbulent quarter, with management reaffirming its guidance for double-digit revenue growth in FY26. The firm also highlighted the company’s expansion plans, including a 12% CAGR in room count over the next five years.
Axis Bank Ltd.
Citi has maintained a ‘Neutral’ rating for Axis Bank, cutting its target price to Rs 1,285 from Rs 1,320. The firm cited technical slippages that significantly dragged earnings, along with volatility limiting conviction. Core slippage run-rate stands at 2.1%, with elevated credit costs at 1.2%. The firm awaits greater consistency before turning more constructive on the stock.
Jefferies has maintained a ‘Buy’ rating, cutting its target price to Rs 1,370 from Rs 1,450. The firm noted disappointing asset quality in Q1, with slippages surging due to a new classification method. Despite weak results, the current valuation discount supports the ‘Buy’ recommendation.
Polycab Ltd.
Jefferies has upgraded its rating to ‘Buy’, hiking the target price to Rs 8,180 from Rs 7,150. The company reported its highest-ever Q1 sales and profit, with strong execution across segments. The Fast Moving Electrical Goods (FMEG) segment saw further profitability expansion, and the firm views Polycab as a key beneficiary of private capital expenditure, housing, and infrastructure growth.
UBS has also maintained a ‘Buy’ rating, increasing its target price to Rs 8,100 from Rs 7,150. The firm highlighted the company’s leadership strength in Q1 and the FMEG segment’s second consecutive quarter of profitable growth. Valuations remain supportive, with clear revenue-side growth levers expected to drive margin expansion.
Additional Insights
Other firms like Macquarie and UBS have provided additional insights into various companies, emphasizing factors such as productivity gains, favorable mix changes, and technology integration. These factors are expected to contribute to improved profitability and long-term growth.
