Axis Securities has a ‘buy’ recommendation on Bharti Airtel with a target price of Rs 1,900 (+12%) after the telecom services major gave a stellar performance during Oct-Dec quarter. Analysts said that the company’s digital portfolio is gaining momentum along with market share gains, it maintained a substantial share of 4G/5G net ads in the market. The company’s ARPU continues to be the best in the industry, and average data usage per customer stands healthy at 24.5 GB/month.
ICICI Securities has maintained its ‘buy’ recommendation on Mahindra & Mahindra with a higher target price of Rs 3,680 (+17%) from Rs 3,400 earlier. Analysts expect M&M to continue its strong performance led by its robust UV portfolio, market share gains in both SUV and tractors, improving margin trajectory, and better outlook in the farm equipment segment.
Emkay Global Financial Services has retained its ‘buy’ recommendation on Hero MotoCorp with a target price of Rs 5,600 (+33%). Analysts feel the company has shown strong operating performance and the risk-reward is attractive. Management maintains its double-digit revenue growth guidance for FY25 with similar growth in FY26 as well. The company remains optimistic about the growth prospects of the two-wheeler industry, driven by sustained demand as well as recovery in rural and urban areas.
Elara Securities India has maintained its ‘buy’ recommendation on Delhivery with a target price of Rs 387 (+30%) from Rs 570 earlier. The company’s revenue growth so far in FY25 has been a mixed bag with the Part Truck Load segment up 25% while the express segment up by a mere 5%. eCommerce demand had slowed, competition from qCommerce and insourcing from platforms dragged the growth rates in the express. Analysts said volume growth remains crucial amid a challenging macro environment and they expect revenue CAGR of 10% during FY24-FY27.
Anand Rathi Share & Stock Brokers has retained its ‘buy’ recommendation on Star Cement with an updated target price of Rs 270 (+33%) from Rs 251 earlier. Analysts feel the company is outstripping industry demand and expanding to retain market share. They said that as the market leader, Star Cement’s Oct-Dec volume growth outstripped north-eastern demand growth, but its operational performance was hit by the delayed Meghalaya clinker stabilisation, higher maintenance shut down cost, higher freight on a highway being constructed, etc.
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