Brokerage recommendations diverged on Indian stocks after September-quarter results, with Dr. Reddy’s Laboratories drawing calls from Sell to Buy as its revenue fell 1.5% and EBITDA margin was 20.6%.
NDTV Profit’s premarket roundup on Oct. 26 listed Goldman Sachs at Sell with a ₹1,150 target and Citi at Buy with a ₹1,510 target for Dr. Reddy’s. It also listed Jefferies at Hold with ₹1,320, HSBC at Buy with ₹1,375, BofA at Buy with ₹1,480 and Kotak Securities at Reduce with ₹1,220. Investing.com also reported Jefferies’ Hold rating and target.
Dr. Reddy’s said lower lenalidomide revenue weighed on growth, with North American revenue down 23%. Co-Chairman and Managing Director G V Prasad said the company delivered “double-digit base business growth” and an EBITDA margin above 20% during the quarter.
For Infosys, NDTV Profit listed JP Morgan at Neutral with a ₹1,050 target, Jefferies at Hold with ₹1,140, Citi at Neutral with ₹1,105 and Kotak at Add with a ₹1,200 fair value. Jefferies cut its target from ₹1,160, while Citi raised its target from ₹1,030.
Infosys reported Q2 FY27 revenue of $5.145 billion, up 1.5% year over year in constant currency, and a 21% operating margin. It lowered its FY27 constant-currency revenue growth outlook to 1%-2% from 1.5%-3.0% in July. CEO and Managing Director Salil Parekh said AI accounted for 10.5% of revenue and grew 29% quarter over quarter.
NDTV Profit reported that Kotak Securities maintained a Buy rating on SBI Cards and Payment Services with a ₹900 target. JPMorgan maintained Underweight and lowered its target to ₹505 from ₹588. The company’s Q2 filing showed profit of ₹777.60 crore, compared with ₹444.77 crore a year earlier, while impairment on financial instruments fell to ₹819.37 crore from ₹1,292.72 crore.
NDTV Profit’s roundup listed JPMorgan at Overweight with a ₹492 target for Kotak Mahindra Bank, raised from ₹468, and Bernstein at Market-Perform with a ₹500 target. The bank reported standalone Q2 profit of ₹4,212 crore, up 29% year over year. Its net interest margin was 4.31%, down from 4.53% in the prior quarter; Kotak attributed much of the moderation to FCNR(B) deposit mobilization.
