Axis Direct Broker Research reports

Top Conviction Ideas - Metals & Mining - Hindalco Industries Ltd; National Aluminium Company Ltd; APL Apollo tubes.

With a 0% upside from the CMP, we maintain our HOLD rating.

We maintain our BUY rating on the stock

We maintain our BUY recommendation on the stock.

With a 3% downside from the CMP, we maintain our HOLD rating on the stock.

We maintain a BUY rating on the stock with a TP of Rs 1,450/share, implying an upside potential of 19% from the CMP.

We maintain our BUY rating on the stock.

We maintain our HOLD rating on the stock, as the current price largely factors in the positives.

We change our BUY recommendation on the stock to HOLD

With a 17% upside from the CMP, we maintain our long-term BUY rating on the stock.

Top Conviction Ideas - Banks, Financial Services and Insurance (BFSI): HDFC Bank; Kotak Mahindra Bank; SBI; City Union Bank; Bajaj Finance Ltd; Shriram Finance Ltd

We maintain our BUY rating on the stock.

Top Conviction Ideas - UltraTech Cement Ltd, Ambuja Cements Ltd, Dalmia Bharat Ltd, JK Lakshmi Cement

We maintain our BUY rating on the stock.

We downgrade our rating from BUY to HOLD on the stock as the challenges are expected to continue in the near term, and we await clear signs of a sustained recovery.

We maintain our BUY rating on the stock and value it at an EV/EBITDA of 15x for FY27E to arrive at a target price of Rs 310/share.

Asian Markets are trading mixed as investors bet on a rate cut by the US Federal Reserve next month. The Hang Seng and Shanghai are both trading positively, by 0.26% and 0.40%, respectively, whereas the Nikkei is trading negatively by 1.39%.

Q1FY26 Earnings Wrap - Week V

We maintain our BUY rating on the stock.

Considering the near-term challenges, we have downgraded the stock from BUY to HOLD and revised our TP to Rs 355/share, implying an upside potential of 7% from the CMP.