CLSA has an outperform rating on M&M with the target price raised to Rs 4,702. Analysts said the company remains a revenue market leader in utility vehicles. With a strong launch pipeline, its superior execution capability and improving profitability, expect M&M to deliver 20% earnings before interest, taxes, depreciation and amortisation (EBITDA) compounded annual growth rate (CAGR) over FY26-FY28. M&M’s Oct-Dec FY26 (Q3FY26) auto EBIT margin of 9.5% was above estimate of 9.0%. For tractors analysts forecast 7% growth in FY27 post a robust FY26.HSBC has a buy on Hindalco Industries with the target price at Rs 1,240. Analysts said Oswego Fires dent an otherwise strong operating performance. Management reiterated Bay Minette full plant commissioning in the second half of FY26, cold mill to begin commissioning in March.Citigroup has a buy rating on Divis Laboratories with the target price at Rs 9,140. Analysts said the company reported a strong 20% EBITDA growth in Q3FY26. The management has provided strong visibility for FY27 & FY28. Multiple products (some in validation, some completed) are expected to transition to commercial volumes over the next 12 months with Tirzepatide (GLP-1) likely to be one of these. Analysts also said three of the company’s dedicated projects will move into the commercial stage in CY27. They do not see any change in the double-digit growth trajectory, irrespective of any patent cliff. New projects could expand margins and according to the management the sky’s the limit.Jefferies has a buy rating on Lenskart with the target price raised to Rs 575. Analysts said Lenskart delivered an exceptional quarter, with strong growth and smart margin expansion across India and international markets. The management commentary was even more compelling, highlighting a clear focus on long term growth over short term margin maximisation, with margins seen as an outcome rather than the objective.Motilal Oswal Securities has a buy rating on Ashok Leyland with the target price at Rs 238. Analysts said the company has multiple growth drivers in place for a CV cycle revival. Earnings beat during Q3FY26 was on the back of better margins and higher other income. The company is likely to emerge as a major beneficiary of a pickup in CV demand. Over the years, the company has effectively reduced its business cyclicality by focusing on non-truck segments. Analysts also said that the company’s continued emphasis on margin expansion and its prudent control of capex are likely to help improve returns in the long run. Further, a net cash position will enable Ashok Leyland to invest in growth avenues in the coming years.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
