1. Thyrocare Technologies:
ICICI Securities maintains its ‘Buy’ rating on this healthcare company with a target price of Rs 1,560, an upside of 24.6%. The company’s Q2FY26 net profit surged 79.9% YoY to Rs 48 crore, thanks to lower inventory and finance costs. Revenue climbed 22% to Rs 219.6 crore, led by its diagnostic testing services.
Analysts Abdulkader and Nisha highlight the pathology business as the primary growth engine, with its franchise and partnership segments expanding by 20% and 35%, respectively. The company also strengthened its radiology segment by closing loss-making centres, which stabilised revenue and boosted its EBITDA margin to 19.7%.
Thyrocare plans to add 100–150 new franchise outlets each month to meet rising demand. Its overseas operations in Tanzania also grew 30%, with management aiming to double revenue and achieve breakeven within two years. The analysts forecast that earnings will grow at a 41% CAGR through FY28, driven by higher volumes, stronger margins, and rapid network expansion.
2. LTIMindtree:
IDBI Capital maintains its ‘Buy’ rating on this IT company with a target price of Rs 6,470, an upside of 15.2%. The company posted solid Q2FY26 results, with net profit rising 11.7% and revenue growing 4.5% over the previous quarter. Analyst Saptarshi Mukherjee noted that the company achieved balanced growth across all business verticals and regions.
Management expresses confidence in reaching near double-digit growth in the second half of FY26. The company secured a massive $1.6 billion in new orders, driven by large deals in media, finance, and manufacturing. Its deal pipeline is rich with AI-driven digital transformation and cloud migration projects, accelerating its market traction. The company’s focus on its proprietary BlueVerse AI platform is strengthening its competitive edge.
Mukherjee also praised the company’s successful efforts to reduce its reliance on its top-five clients, which improves revenue stability. Strong demand for AI-led deals and healthy client spending are expected to sustain its growth momentum. He expects revenue to grow at a CAGR of 9.4% and net profit at 17.2% over FY26–FY27.
3. Indian Bank:
Emkay retains its ‘Buy’ rating on this bank with a target price of Rs 900, an upside of 8.9%. The bank’s Q2FY26 net profit climbed 11.5% YoY to Rs 3,018.2 crore, fueled by lower provisions. Revenue grew 7.4% to Rs 19,076.6 crore, driven by strong performance in treasury operations and retail banking.
Management projects robust growth for FY26, targeting 10–12% in loans and 8–10% in deposits, while aiming for a 40% current and savings account (CASA) ratio. The bank anticipates limited margin pressure and expects recoveries of Rs 5,500–6,500 crore. Asset quality improved significantly, with the gross non-performing assets (GNPA) ratio falling to 2.6%. The bank plans to push its GNPA below 2% in FY26.
Analysts Anand and Nikhil note that the bank’s high 94% provision coverage ratio buffers the bank against new credit loss norms. They foresee steady growth, superior asset quality, and impressive return ratios of 1.2-1.3% for RoA and 16-18% for RoE through FY28.
4. Nuvoco Vistas Corporation:
ICICI Direct maintains its ‘Buy’ rating on this cement producer, with a target price of Rs 590, an upside of 39.7%. Nuvoco Vistas swung to a net profit of Rs 36.4 crore in Q2FY26 from a Rs 85.2 crore loss a year ago. Revenue rose 8.6%, powered by a 2.4% rise in sales volume and a 5.8% increase in prices.
While the extended monsoon moderated volume growth, the company expects demand from housing and infrastructure to rebound in the second half of the year. Nuvoco is also expanding aggressively, adding 10 million tonnes of capacity to reach 35 million tonnes by FY27. This expansion is likely to enhance its market share in new and existing regions.
Analysts Vijay and Deep project revenue and volumes will grow at a CAGR of ~12% and ~9%, respectively, through FY28. They highlight that despite a planned Rs 4,100 crore capital expenditure, the company expects its net debt to EBITDA ratio to fall to a manageable ~2x by FY27.
5. HCL Technologies:
Motilal Oswal reiterates its ‘Buy’ rating on this IT company, with a target price of Rs 1,800, an upside of 18.1%. HCL Tech delivered a strong Q2FY26, with net profit growing 10.2% and revenue jumping 5% over the previous quarter. Growth was broad-based across all its major business segments.
The company’s total contract value climbed an impressive 15.8% YoY, prompting it to raise its services revenue growth guidance to 4-5%. Management sees steady demand in banking and technology, with legacy modernisation and AI-led transformations as growth drivers. Analysts Abhishek and Keval note that the advanced AI solutions now contribute 3% of total revenue, powered by its AI Force platform. The company aims to deploy the platform across 100 clients by year-end, supported by partnerships with NVIDIA.
Abhishek and Keval consider HCL Tech the fastest-growing large-cap IT services firm. With a large deal secured from a major European retailer and a robust pipeline, the company is well-positioned for strong performance ahead.
Note: These recommendations are from various analysts and are not recommendations by Trendlyne.
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