Axis Direct Broker Research reports

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.

With a 1% downside from the CMP, we maintain our HOLD rating on the stock.

We maintain our BUY recommendation on the stock.

We downgrade our rating on the stock from BUY to HOLD and roll over our estimate to FY27.

Asian Markets are trading higher as investors look past global trade frictions. The Nikkei, Hang Seng, and Shanghai Composite are up 0.44%, 1.09%, and 0.19%, respectively.

Top Conviction Ideas - Prestige Estates Projects Ltd, SignatureGlobal India Ltd, Arvind Smartspaces Ltd.

Top Conviction Ideas - Lupin Ltd, Aurobindo Pharma Ltd, Max Healthcare Institute Ltd, Fortis Healthcare Ltd.

We maintain our BUY recommendation on the stock.