Axis Direct Broker Research reports

Asian Markets are trading mixed after private sector hiring in the U.S. hit its lowest level in over two years, raising concerns that trade policy uncertainty could be weighing on the world's largest economy.

Top Conviction Ideas - Varun Beverages Ltd, DOMS Industries Ltd.

Top Conviction Ideas - Trent, Ethos.

Stock Ideas with specific strategies

Axis Intellect (AI) Score based Top Ideas

Top Conviction Ideas - Hindalco, APL Apollo Tubes, NALCO.

We maintain our BUY rating on the stock and value it at 20x FY27E EPS with a TP of Rs 1,030/share, implying an upside of 18% from the CMP.

Asian Markets are trading higher after US markets rose on the back of a tech rally, led by chipmaker Nvidia. The Nikkei, Hang Seng, and Shanghai Composite are trading higher by 0.89%, 0.50%, and 0.29%, respectively.

We recommend a BUY on the stock with a target price of Rs 520, implying a 10% upside from the current market price.

In the long term, we prefer TVS Motors and Hero Motocorp in 2Ws; M&M (non-coverage) as a play in the PV/LCV/tractor segment, followed by Maruti in PVs. We also keep a close watch on Ashok Leyland and Eicher (VECV) in the CV space for market share gains.