It’s been a quiet week for the markets. The Nifty closed below the 26,000 mark. Can investors still find value? With companies posting a mix of strong profits and sharp misses, brokerages have been quick to fine-tune their outlook on key stocks. This week, several top research houses, including UBS, JM Financial, Anand Rathi Research, Jefferies, and Motilal Oswal, shared their latest recommendations, and we shortlisted 10 stocks across the banking, finance, auto, and consumer sectors.
UBS on Meesho
UBS has initiated coverage on Meesho with a ‘Buy’ rating and a target price of Rs 220, implying an upside of about 29% current levels. Though the share price of Meesho has moved well above the UBS target, here is a detailed analysis of the key factors fuelling the growth. As per UBS Research, Meesho’s focus on lower/middle-income consumers in India’s Tier 2 and 3 cities provides a growth runway as online adoption accelerates among these consumers. Unlike other internet businesses in India, UBS believes “the company’s asset-light, negative working capital business model has also ensured positive cash flows.”
Motilal Oswal on Aditya Birla Real Estate
Motilal Oswal initiated coverage on Aditya Birla Real Estate (ABREL) with a Buy call and a target price of Rs 2,275. This implies an upside potential of around 33% from current levels. As per Motilal Oswal, this Aditya Birla Group stock has delivered pre-sales of around Rs 8,100 crore in FY25, significantly outperforming several peers. The brokerage firm estimated that this translates into a 90% CAGR in pre-sales between FY21-FY25. Looking ahead, bookings are expected to grow at a 26% CAGR from FY25 to FY28, supported by a strong launch pipeline and steady demand in premium and luxury housing segments.
Jefferies on Hero MotoCorp
Jefferies downgraded Hero MotoCorp’s rating to ‘Underperform’ from ‘Hold’ and revised the target price to Rs 4,950 from Rs 5,550. The new price target implies a downside of nearly 15% from the current market price. The downgrade came as the brokerage warned that the GST cut-driven demand boost had faded in November-December. The downgrade impacted the share price of Hero MotoCorp in Thursday’s session, falling as much as 5.2% to an intra-day low of Rs 5,513 on the National Stock Exchange.
PL Capital on ICICI Prudential Asset Management Company (AMC)
PL Capital initiated coverage on ICICI Prudential AMC with a ‘Buy’ rating, with a target price of Rs 3,000, an upside of 39% from the upper price band. The brokerage is optimistic about its business prospects given its strong performance and parentage, which is driving the highest net equity flow market share that is 17.5% in 8M FY26, among AMCs. Plus, ICICI Pru AMC has a superior equity yield of 67 bps due to the lowest distributor payout.
Jefferies on HDB Financial Services
Global brokerage Jefferies has initiated coverage on HDB Financial Services. The brokerage has assigned a Buy rating with a target price of Rs 900. This indicates an upside potential of about 19% from current levels. According to the brokerage report, the outlook is driven by expectations of improving loan growth, controlled costs and moderation in credit stress, rather than any near-term spike in profitability.
Morgan Stanley on Reliance Industries
Morgan Stanley raised the price target on RILto Rs 1,847 from Rs 1,701, betting big on improving prospects in 2026. The brokerage house believes that FY26 will mark the point where years of heavy spending finally convert into sustained cash generation across the company’s core businesses. The brokerage said Reliance Industries is entering what it calls its fourth monetisation cycle, a phase in which refining, chemicals, telecom and retail are all expected to generate free cash flow at the same time, something the company has not achieved in the last three decades.
Motilal Oswal on Vishal Mega Mart
The domestic brokerage Motilal Oswal initiated a positive view on the value retailer Vishal Mega Mart. The brokerage has assigned a ‘Buy’ rating and set a target price of Rs 170. This translates to an upside potential of nearly 25%. According to the brokerage report, the call is based on steady store-level growth, increasing contribution from in-house brands, and operating efficiencies that may support margins over time. As per the brokerage report, nearly 75% of Vishal Mega Mart’s revenue comes from its own brands. Management expects this to help maintain steady same-store sales growth on an annual basis, even if quarterly numbers fluctuate.
Anand Rathi Research on HAL
The brokerage house Anand Rathi Research has a Buy rating on Hindustan Aeronautics. GE Aerospace has handed over the 5th F404-IN20 jet engine to HAL for their LCA Tejas Mk1A programme. With all technical glitches being addressed, currently certifications and procedural formalities are being conducted. Anand Rathi Research has a target price of Rs 5,950 on the stock.
Jefferies on Eternal (Zomato)
Global brokerage Jefferies has predicted a sharp upside potential in the quick commerce and food delivery stock, Eternal (Zomato). The brokerage has assigned a ‘Buy’ rating with a target price of Rs 480, which implies an upside of about 61% from current market levels.
According to the brokerage report, the view is based on the company’s position in the quick commerce and food delivery segments, along with expectations that competitive pressures may remain manageable over the medium term.
JM Financial on TBO Tek
JM Financial believes TBO Tek, an internet-based travel company, could be headed for steady growth as global travel habits change. The brokerage has kept a ‘Buy’ rating on the stock and raised its target price to Rs 1,920. This indicates a potential upside of about 15%. According to the brokerage report, TBO Tek used the investor meeting to highlight its growing presence in the global luxury travel segment. The management explained how long-standing relationships with premium airlines, hotels and travel advisors help the company offer a “high-service offering” that is different from what large online travel agencies or bed banks typically provide.
Overall, the brokerage views highlight strong upside and downside potential for these stocks that were among the big movers this week.