Fund Houses Recommendations: Key Calls Across Sectors

Leading global and domestic fund houses have released their latest stock recommendations, highlighting positive sentiment across financials, infrastructure, and industrial sectors, while offering selective neutral views on certain stocks.

Infrastructure & Industrial Stocks

• L&T: Jefferies – Maintain Buy, target Rs 4345/sh (Positive)
• KEI Industries: UBS – Maintain Buy, target Rs 4750/sh (Positive); Nuvama – Maintain Buy, target Rs 4450/sh (Positive)
• Tata Communications: Macquarie – Maintain Outperform, target Rs 2210/sh (Positive); Nuvama – Maintain Buy, target Rs 2235/sh (Positive)
• Hyundai: Nuvama – Maintain Buy, target Rs 3200/sh (Positive); MS – Maintain Overweight, target Rs 3066/sh (Positive)

Banking & Financials

• AU Bank: MS – Maintain Overweight, target Rs 1000/sh (Positive)
• Axis Bank: Antique – Maintain Buy, target Rs 1350/sh; DAM Capital – Maintain Buy, target Rs 1370/sh; HSBC – Maintain Buy, target Rs 1460/sh; Emkay – Maintain Buy, target Rs 1400/sh; Nomura – Maintain Buy, target Rs 1440/sh; Jefferies – Maintain Buy, target Rs 1470/sh; CLSA – Maintain Outperform, target Rs 1400/sh (All Positive)
• Axis Bank (Neutral Calls): Haitong – Outperform, target Rs 1350/sh; Bernstein – Outperform, target Rs 1250/sh; JP Morgan – Neutral, target Rs 1260/sh; MOSL – Hold, target Rs 1180/sh; Systematix – Buy, target Rs 1365/sh; Ambit – Buy, target Rs 1300/sh
• HDFC Life: MS – Overweight, target Rs 875/sh; Jefferies – Buy, target Rs 930/sh (Positive); Nuvama – Buy, target Rs 910/sh; GS – Buy, target Rs 865/sh (Neutral)
• HDB Financial: MS – Equal Weight, target Rs 805/sh (Positive); MOSL – Neutral, target Rs 820/sh
• LT Financial: MS – Underweight, target Rs 143/sh (Positive)

Consumer & FMCG

• UBL: Investec – Maintain Hold, target Rs 2081/sh (Neutral)

Market Strategy

• India Strategy: CLSA – India underperforms peers amid continued FII selling; Nifty rose 0.8% in September, second-worst in emerging markets after the Philippines (Neutral)

These recommendations reflect fund houses’ confidence in growth-oriented infrastructure, industrial, and select banking stocks, while suggesting a cautious approach on some consumer and financial names amid mixed market trends.