Fund Houses Update - 13 August 2025

Fund Houses Recommendations

• Citi on PayTM: Maintain Buy on Company, target price at Rs 1215/Sh (Positive)

• Jefferies on Belrise: Maintain Buy on Company, raise target price at Rs 160/Sh (Positive)

• Jefferies on Zydus Life: Maintain Buy on Company, target price at Rs 1150/Sh (Positive)

• Nomura on Zydus Life: Maintain Buy on Company, target price at Rs 1140/Sh (Positive)

• Jefferies on Belrise: Maintain Buy on Company, target price at Rs 135/Sh (Positive)

• Jefferies on Honasa Consumer: Maintain Buy on Company, target price at Rs 400/Sh (Positive)

• CLSA on Honasa Consumer: Maintain Buy on Company, target price at Rs 333/Sh (Positive)

• MS on Nykaa: Maintain Overweight on Company, target price at Rs 225/Sh (Positive)

• Nuvama on Nykaa: Maintain Buy on Company, target price at Rs 235/Sh (Positive)

• Nomura on Nykaa: Maintain Buy on Company, target price at Rs 223/Sh (Positive)

• MS on JSPL: Maintain Equal weight on Company, target price at Rs 950/Sh (Positive)

• Citi on Apollo Hospitals: Maintain Buy on Company, target price at Rs 8260/Sh (Positive)

• Investec on Suzlon: Maintain Buy on Company, target price at Rs 70/Sh (Positive)

• Jefferies on Dr Agrawal: Maintain Hold on Company, raise target price at Rs 430/Sh (Positive)

• Nomura on Alkem: Maintain Buy on Company, raise target price at Rs 5430/Sh (Positive)

• MOSL on HAL: Maintain Buy on Company, target price at Rs 5800/Sh (Positive)

• Nuvama on HAL: Maintain Buy on Company, target price at Rs 6000/Sh (Positive)

• Nomura on HAL: Maintain Buy on Company, target price at Rs 6100/Sh (Positive)

• Nuvama on BDL: Maintain Buy on Company, target price at Rs 2250/Sh (Positive)

• MOSL on BDL: Upgrade to Buy on Company, target price at Rs 1900/Sh (Positive)

• Jefferies on ONGC: Maintain Buy on Company, target price at Rs 360/Sh (Positive)

• CLSA on NHPC: Maintain Buy on Company, target price at Rs 117/Sh (Positive)

• MS on CPI Inflation: July print in-line; food prices show mixed trend in August, headline CPI likely to rise to 2.5% YoY. Expect another rate cut in October as growth outlook appears softer than RBI’s estimates (Positive)

• Nuvama on CPI Inflation: Disinflation deepens, time for RBI to ease and fiscal push to support growth (Positive)

• Jefferies on Aavas Fin: Maintain Buy on Company, cut target price at Rs 2175/Sh (Neutral)

• MS on HAL: Maintain Equal weight on Company, target price at Rs 5092/Sh (Neutral)

• Macquarie on Hindalco: Maintain Outperform on Company, target price at Rs 709/Sh (Neutral)

• Nuvama on Hindalco: Maintain Buy on Company, cut target price at Rs 757/Sh (Neutral)

• Bernstein on PayTM: Maintain Outperform on Company, target price at Rs 1100/Sh (Neutral)

• Nuvama on Titagarh Rail: Maintain Buy on Company, cut target price at Rs 1142/Sh (Neutral)

• Nuvama on Minda Corp: Maintain Buy on Company, cut target price at Rs 590/Sh (Neutral)

• Nomura on Apollo Hospitals: Maintain Neutral on Company, target price at Rs 6856/Sh (Neutral)

• Jefferies on Hindalco: Maintain Hold on Company, target price at Rs 690/Sh (Neutral)

• CLSA on Hindalco: Maintain Outperform on Company, target price at Rs 850/Sh (Neutral)

• Nuvama on Hindalco: Maintain Buy on Company, target price at Rs 776/Sh (Neutral)

• MOSL on Hindalco: Maintain Buy on Company, target price at Rs 790/Sh (Neutral)

Warm Regards...

The securities quoted are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read and agree Disclaimer and related all the documents carefully before investing, mentioned on www.nikhilbhatt.in