Analyst Ratings and Insights on Indian Companies

Crompton Consumer Electricals: A Bright Future?

Crompton is buzzing with activity, focusing on innovation and new launches, especially in the premium fan segment. According to Jefferies (Buy, Target Rs480), premium fans are growing at 2.5 times the rate of non-premium fans, now representing roughly 25% of the vertical, compared to 12-15% five years ago. The company has implemented several price increases over recent quarters, anticipating double-digit growth in premium and BLDC fans this summer.

MS (Underweight, Target Rs352) acknowledges Crompton's launch of Nucleus (BLDC platform) and Xtech (induction motor platform) to bolster their fan portfolio and expand their premium market share. Nomura (Buy, Target Rs447) echoes this, highlighting the scalability, durability, and efficiency of these new platforms, enabling Crompton to offer extended warranties. They predict a healthy 22% EPS CAGR, driven by price hikes and operating leverage boosting EBITDA margins. Nuvama (Buy, Target Rs500) is equally optimistic, citing Crompton's 2.0 strategy, focusing on capturing a larger share of the premium fan market, and the upcoming BEE2.0 transition as key growth drivers.

Coal India: A Potential Windfall?

Coal India subsidiary, Northern Coalfields, has announced a new levy of Rs300/tonne from May 1, 2025, dubbed the 'Singrauli Punarasthapan Charge'. Nuvama expects this to significantly boost Coal India’s FY26/27 EBITDA by 9-10%, with the funds used for land acquisition and rehabilitation. MS (Overweight, Target Rs525/sh) views this positively, seeing an 8% upside risk to FY26 earnings. JPM (Neutral, Target Rs420) agrees that the FSA price hike is a positive surprise, partially offsetting headwinds from softening international coal prices and market share loss.

Bajaj Auto: Riding the Growth Wave

CLSA (Over-perform, Target Rs9473) predicts double-digit revenue growth for Bajaj Auto, driven by ICE volume growth outpacing the industry and 20-30% growth in e2W volumes. Export volumes are also showing signs of recovery.

Jubilant FoodWorks: Tech-Savvy Appetite

Jefferies (Buy, Target Rs1000/sh) applauds Jubilant FoodWorks' "Be Bold" growth mindset and its tech-driven approach from sourcing to delivery. Recent double-digit SSSG fueled by innovation showcases their growth potential. MS (Overweight, Target Rs781) highlights Jubilant's strategic use of technology across its business, from supply chain to app management, positioning them for higher growth.

Coforge: Attractive Valuation After Dip

After a recent 22% dip, Jefferies (Buy, Target Rs10,100/sh) believes Coforge is attractively valued at 33x FY26 P/E. They anticipate continued revenue outperformance due to a strong order book and consistent execution, making Coforge a high-conviction pick within Indian IT.

Other Notable Analyst Calls

Investec upgrades ICICI Pru Life to Buy (Target Rs725) citing attractive valuations and improving headwinds. UBS maintains Buy ratings on OMCs (IOCL Target Rs180, BPCL Target Rs365, HPCL Target Rs430) based on healthy integrated margins from mid-$70s crude. Jefferies maintains a Buy on Apollo Hospitals (Target Rs7900) dismissing ARPOB growth concerns. They also prefer DLF, Godrej Properties, and Lodha in the real estate sector. UBS initiates coverage on Thermax with a Buy (Target Rs4100). HSBC has a Hold rating on HDFC AMC (Target Rs4350/sh) and prefers Sundaram Home Fin and Cholamandalam Fin (Buy, Target Rs1610/sh) in the vehicle finance space.