Brokerage Reports: TCS, UPL, Indian Hotels & Top Cement and NBFC Stock Picks With Targets
Navigating the dynamic equity markets requires aligning investment strategies with expert insights from leading global brokerage firms. Major brokerage houses have released their latest advisory reports covering individual stock recommendations as well as broader sector outlooks for cement and non-banking financial companies (NBFCs). Whether you are evaluating IT majors, agrochemical players, hospitality stocks, or high-growth financial institutions, understanding these expert target prices and rationales can help optimize your portfolio for upcoming market trends.
Expert Recommendations on TCS, UPL, and Indian Hotels
Prominent large-cap stocks have drawn significant attention following strategic corporate developments. Global brokerage HSBC has maintained a "Hold" rating on Tata Consultancy Services (TCS) with a target price of ₹2,350 per share. According to the brokerage, while TCS's acquisition of MHP addresses its limited footprint in European auto and consulting segments and brings business stability, potential integration challenges and a limited immediate impact on EPS warrant a cautious stance.
In the agrochemical sector, Jefferies has issued a "Buy" rating on UPL with a target price of ₹715 per share, backed by management's confidence in achieving 10–14% growth guidance for FY27. UPL's focus on rationalizing non-profitable operations, tight inventory controls in Latin America, and upcoming marketing for the Advanta IPO position the company for an estimated 14% EBITDA growth.
Meanwhile, the hospitality sector is witnessing strong institutional backing for Indian Hotels. Nomura has assigned a "Buy" rating with a target price of ₹830, while Jefferies maintains a "Buy" rating with an upgraded target of ₹875 per share. Both brokerages view the integration and acquisition of Oriental Hotels as a major positive step aligned with the Tata Group's simplification strategy, expected to enhance per-share earnings.
CLSA Outlook and Top Picks in the Cement Sector
CLSA has shared a comprehensive analysis of the Indian cement industry, noting that demand has remained resilient supported by lower-than-normal rainfall, which has helped sustain volume offtake and pricing power. Although rising fuel costs and seasonally softer second-quarter volumes may pose temporary margin pressures, a strong operational recovery is anticipated in the second half (H2) driven by reduced competitive intensity and softening energy prices.
Highlighting high-potential opportunities in the space, CLSA has named UltraTech Cement and Shree Cement as its top large-cap sector picks, alongside Dalmia Bharat as an attractive investment proposition for medium-term growth.
Jefferies Positive View and Top Picks on NBFCs
The Non-Banking Financial Company (NBFC) sector continues to showcase impressive momentum, outperforming traditional banks and benchmark indices in 2026, primarily propelled by consistent earnings per share (EPS) upgrades. Jefferies remains structurally positive on the NBFC landscape, citing clear visibility on asset quality and robust earnings growth.
While multiple re-ratings may stabilize in the near term, ongoing earnings upgrades are expected to sustain the sector's outperformance. Jefferies' curated top picks in the NBFC segment include industry leaders such as Bajaj Finance, Cholamandalam Investment and Finance, Aditya Birla Capital, and Shriram Finance.
