CLSA has an outperform rating on M&M with the target price at Rs 4,417. Analysts said that the company remains confident in maintaining its market leadership position for SUVs, tractors and LCVs. With new launches and focus on void spaces, M&M expects there is scope for further market share gains in some of the segments. The company is looking for an organic revenue compounded annual growth rate (CAGR) of 15-40% in various segments during the FY26-FY30 period versus a 25% CAGR over the last five years on an overall basis. M&M plans to focus on export markets across all three areas of tractors with the Oja brand, LCVs with global pickup launches and UVs with new launches. The company has also upgraded its tractor volume growth guidance for FY25-FY30 from a 7% CAGR to a 9% CAGR. The company plans to grow its revenue for the LCV business by 1.6x during FY25-FY30. Analysts said M&M has aggressive plans to grow its growth gems.Morgan Stanley has an overweight rating on Maruti Suzuki India with the target at Rs 18,489. Analysts said that the post-festive demand and booking trends are holding well. They said operating leverage and net pricing will be the key drivers of margins in the coming quarters, while discounts peaked in the July-Sept quarter (Q2FY26). The company continues to see a healthy growth rate in exports.Nuvama has a buy on Vedanta with the target price at Rs 686. Analysts said that Vedanta’s focus on demerger, delivery and deleveraging (3Ds) is on course to pay off, supported by tailwinds of commodity prices. They feel a likely favourable outcome by NCLT in Dec-25 (demerger likely by Q4FY26-end), removal of overhang (not buying JP Associates) and further Rs 20 dividend per share by Jan 26 are additional triggers. Analysts expect the company’s earnings before interest, taxes, depreciation, and taxes (EBITDA) to increase at a CAGR of 16% over FY25–FY28 on the back of lower aluminium cost of production, aluminium and zinc volume growth and higher commodity prices.JP Morgan has an overweight rating on TCS with the target price at Rs 4,050. Analysts said that TCS announced a partnership with PE firm TPG with a commitment to invest $1 billion for a 27-49% stake in its newly formed Data centre business, HyperVault. TCS and TPG jointly pledged to invest up to Rs 18,000 crore in HyperVault in equity over several tranches. TCS previously had announced a 1 GW AI ready data centre with an outlay of $6.5 billion with a mix of debt and equity and likely equity partners. Analysts believe the event enables TCS to embark on its capex plans while limiting TCS’s direct equity outlay to $1 billion over the next 5-6 years as it recently highlighted.Citigroup has a buy rating on L&T with the target price at Rs 4,500. Analysts said that the company sees clear opportunities in the Middle East across areas, sees potential in Europe as well and has recently announced a partnership for renewable projects integration. Domestically, an improvement in private sector projects, now 30% of the domestic backlog, is aiding growth.
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