Fund Houses Update - 14 August 2025

Dear Trader...

Fund Houses Recommendations

• Jefferies on Muthoot Fin: Maintain Buy on Company, raise target price at Rs 2950/Sh (Positive)

• MS on Muthoot Fin: Upgrade to Overweight on Company, raise target price at Rs 2920/Sh (Positive)

• MOSL on Va Tech: Maintain Buy on Company, raise target price at Rs 1900/Sh (Positive)

• MOSL on JSPL: Maintain Buy on Company, raise target price at Rs 1180/Sh (Positive)

• Jefferies on VMM: Maintain Buy on Company, raise target price at Rs 175/Sh (Positive)

• MS on VMM: Maintain Overweight on Company, target price at Rs 161/Sh (Positive)

• MS on BPCL: Maintain Overweight on Company, target price at Rs 406/Sh (Positive)

• Citi on BPCL: Maintain Buy on Company, target price at Rs 430/Sh (Positive)

• Macquarie on Devyani: Maintain Outperform on Company, target price at Rs 215/Sh (Positive)

• Nuvama on Devyani: Maintain Buy on Company, target price at Rs 210/Sh (Positive)

• MOSL on Apollo Hospitals: Maintain Buy on Company, raise target price at Rs 9010/Sh (Positive)

• Jefferies on HDFC Life: Maintain Buy on Company, target price at Rs 910/Sh (Positive)

• MS on Infosys: Maintain Equal weight on Company, target price at Rs 1700/Sh (Positive)

• MS on Brainbees: Maintain Overweight on Company, target price at Rs 574/Sh (Neutral)

• Macquarie on United Spirits: Maintain Underperform on Company, target price at Rs 1250/Sh (Neutral)

• Jefferies on Motherson: Maintain Buy on Company, target price at Rs 110/Sh (Neutral)

• Macquarie on Jubilant Food: Maintain Underperform on Company, cut target price at Rs 545/Sh (Neutral)

• MOSL on Jubilant Food: Maintain Neutral on Company, cut target price at Rs 725/Sh (Neutral)

• Nuvama on Jubilant Food: Maintain Buy on Company, cut target price at Rs 811/Sh (Neutral)

• HSBC on Jubilant Food: Upgrade to Hold on Company, target price at Rs 650/Sh (Neutral)

• CLSA on Jubilant Food: Maintain Underperform on Company, target price at Rs 519/Sh (Neutral)

• Citi on PI Ind: Maintain Buy on Company, target price at Rs 4310/Sh (Neutral)

• Nuvama on Natco Pharma: Maintain Hold on Company, cut target price at Rs 1020/Sh (Neutral)

• Nuvama on ONGC: Maintain Reduce on Company, target price at Rs 225/Sh (Neutral)

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