Axis Direct Broker Research reports

Stock Ideas with specific strategies

Monthly Quant Report October 2026

We prefer TVS Motors and Eicher Motors in 2W, and M&M (noncoverage) as a play in the PV/LCV/Tractor segment. We also like Ashok Leyland and Tata Motors (non-coverage) in the CV space, followed by a close watch on Eicher (VECV) for any market share gains.

We recommend a BUY on the stock with a target price of Rs 785/share, implying an upside of 10% from the CMP.

Our Top Positive Result Plays: UltraTech Cement and JK Cements Ltd.

Asian markets traded mostly higher this morning. Nikkei gained 2.45%, while the Hang Seng lost 0.11%. China's markets are closed for a public holiday.

We are pleased to share our latest flash note on Banks and NBFCs, which analyses Q2FY27E provisional business updates across key lenders.

We recommend a BUY with a target price of Rs 595/share, implying an upside of ~10% from the CMP.

We recommend the following stocks: Kotak Bank, Bajaj Finance, Bharti Airtel, ICICI Bank, Varun Beverages Ltd, APL Apollo Tubes, HCG Ltd, LG Electronics (I) Ltd, Nestle India Ltd, Eternal Ltd, Chalet Hotels, Minda Corporation Ltd, Dalmia Bharat Ltd, City Union Bank, CCL Products Ltd.

Asian markets traded mixed this morning. The Nikkei rose 2.19%, while Mainland China and Hong Kong markets remained closed for a holiday.

We maintain our BUY rating, valuing the company at 38x Jun'28E EPS, to arrive at a TP of Rs 3,360/share, implying an upside of 33% from the CMP.

Asian markets traded higher this morning, except for the Hang Seng, which declined 0.34%. Meanwhile, the Shanghai Composite and Nikkei rose 0.40% and 1.21%, respectively.

We value the company at 26x FY28E EPS, and recommend a BUY rating on the stock with a TP of Rs 1,980/share, implying an upside of 10% from the CMP.

As the stock is not under our coverage, we do not offer a valuation. However, management is targeting FY30 revenue of ~Rs500 Cr and PAT of ~Rs 65 Cr, indicating its growth expectations over the next three years.

Asian markets were trading in the red this morning. The Hang Seng, Shanghai, and Nikkei lost 0.65%, 0.2%, and 0.89%, respectively.

Asian markets were trading mixed this morning. The Hang Seng and Nikkei gained 0.64% and 0.1%, respectively, while Shanghai lost 1.09%.

We initiate coverage on Century Plyboards India Ltd. with a BUY recommendation and a target price of Rs 820/share, implying ~18% upside from the CMP.

We recommend a BUY with a target price of Rs 505/share, implying an upside of 10% from the CMP.

Asian markets were trading lower this morning, except the Nikkei, which gained 1.13%. The Hang Seng and Shanghai declined 1.46% and 1.22%, respectively.

We value the stock on an SOTP basis and recommend a BUY on the stock with a target price of Rs 705/share, implying an upside of 10% from the CMP.