Top Brokerage Recommendations: Buy Calls on RIL, HUL, Bharti Airtel, and 5 Other Stocks With Upgraded Outlooks
Prominent global and domestic brokerage firms have released fresh equity research reports, issuing investment recommendations across nine major stocks on Tuesday. Out of these, eight prominent counters have received direct "buy" or "overweight" ratings, while one key financial stock has been upgraded from a "sell" to a "neutral" stance alongside a target price revision. Investors tracking market trends are eyeing top-tier recommendations spanning Reliance Industries, Hindustan Unilever, Bharti Airtel, and Hyundai Motor India.
Reliance Industries and NAM India: Jefferies Bullish Outlook
Reliance Industries (Jefferies - Buy | Target: ₹1,710): Jefferies maintains its positive stance on RIL, noting that global refinery production has dipped by 4 percent amid international supply constraints, keeping diesel and petrol inventories near five-year lows. This dynamic supports robust Singapore refining margins projected through 2026. Strong petrochemical margins are anticipated to bolster the oil-to-chemicals (O2C) segment earnings in FY2027, with overall annual earnings projected to compound at 10 percent between FY2026 and FY2029.
NAM India (Jefferies - Buy | Target: ₹1,320): The asset management firm continues to rank at the top tier of industry investment plans, successfully leveraging advanced digital infrastructure to scale its footprint into tier-2 and tier-3 cities across India.
HSBC Highlights Growth Catalysts for HUL, Bharti Airtel, and Aurobindo Pharma
Hindustan Unilever (HSBC - Buy | Target: ₹2,450): HSBC projects HUL's annual pre-tax profit growth for FY2024–27 to hover between 3 and 4 percent, moderating from earlier management expectations. However, upcoming leadership transitions and a new CMD are viewed as pivotal catalysts to revive operational performance, with stronger growth anticipated heading into FY2027.
Bharti Airtel (HSBC - Buy | Target: ₹2,500): Following management interactions focusing on ARPU, pricing discipline, and capital allocation, HSBC remains highly optimistic. Key growth drivers include rising average revenue per user (ARPU) in mobile services, accelerating home broadband expansion, and surging free cash flows that strengthen the telecom major's dividend payout capabilities.
Aurobindo Pharma (HSBC - Buy | Target: ₹1,900): Aurobindo's US subsidiary, Lannett, has successfully commercialized generic Advair Diskus—marking the company's first major inhaled pharmaceutical product in the US market. With a total addressable market exceeding $6.5 billion and limited competition among approved generic alternatives from Viatris, Hikma, Teva, Lannett, and Cipla, the launch represents a massive earnings opportunity.
High-Growth Picks: Allied Blenders, Ather Energy, and Hyundai Motor
Allied Blenders (Jefferies - Buy | Target: ₹780): Jefferies highlights that Allied Blenders has transitioned past a basic turnaround phase, positioning itself for premium-led growth. Strong traction in iconic brands like Iconic White, combined with new luxury whiskey and deluxe vodka product rollouts, is projected to drive double-digit sales volume growth and margin expansion through FY2026–28.
Ather Energy (JPMorgan - Overweight | Target: ₹1,850): JPMorgan remains bullish on the electric vehicle pioneer as it addresses core consumer bottlenecks such as charging infrastructure, battery longevity, range anxiety, safety, and total cost of ownership. Industry projections suggest electric two-wheelers will capture 20 percent of market share by FY2031, with Ather poised to expand its market share from 17 percent in FY2026 to 23 percent.
Hyundai Motor India (Goldman Sachs - Buy | Target: ₹2,640): Goldman Sachs expects the domestic auto sector to grow by 5 percent in the second half of FY2027, with Hyundai outperforming peers. Key earnings boosters include moderating average dealer discounts (down to 28 percent), higher-margin export volumes, policy incentives from the Chennai manufacturing facility, and a projected jump in plant utilization from 71 percent to 90 percent.
IDFC First Bank Upgraded by UBS
IDFC First Bank (UBS - Neutral Upgraded From Sell | Target: ₹92): UBS upgraded the lender following structural improvements in asset quality and credit visibility. The bank sustained its Return on Assets (RoA) above 1 percent in the first quarter, supported by strong retail momentum. With granular liabilities reflecting healthy CASA and retail deposit ratios at 51 percent and 77 percent respectively, ongoing branch expansion is expected to drive steady financial growth.
