Jefferies has issued a buy rating on Adani Energy Solutions with a target price of Rs 1,665. Analysts attended the company's recent management meeting and highlighted key takeaways. They noted that Adani Energy Solutions is India's only listed private sector pure play on transmission and distribution assets. The management emphasized that India's transmission outlook remains robust. The near-term bid pipeline stands at Rs 1.5 lakh crore, compared to Rs 54,000 crore by end-FY25. The company is currently executing Rs 71,800 crore worth of transmission projects, reflecting a 20% year-on-year increase. The smart meter project is ramping up well and is expected to be a key growth driver going forward. The company is locked in for double-digit medium-term growth.
Haitong Initiates Coverage on Minda Corp
Haitong has initiated coverage of Minda Corp with an outperform rating and a target price of Rs 841. Analysts stated that the company is accelerating growth through premiumisation and electrification. Minda Corp is a diversified, sticky OEM franchise with strong order-book visibility. It is well-positioned to deliver sustained growth ahead of the broader auto industry over the next four to five years. The company's new businesses are entering the revenue ramp-up phase. It has a powertrain-agnostic portfolio that drives long-term EV opportunity. Analysts expect revenue, EBITDA, and EPS CAGRs of 19.1%, 21.2%, and 19.1%, respectively, over FY26–FY29.
Goldman Sachs Maintains Buy on Shyam Metalics
Goldman Sachs has maintained its buy rating on Shyam Metalics with a target price of Rs 1,050. Analysts noted that the company's estimated May 2026 revenue is Rs 1,780 crore, representing a 16.5% year-on-year increase. The company reported positive price variance across its product portfolio for May. Its newly commissioned cold-rolled coils and pig iron capacities are delivering strong year-on-year volume growth. However, its aluminium foil volumes faced impact from product mix shifts, though realizations are demonstrating healthy growth.
Elara Capital Maintains Buy on Titan
Elara Capital has maintained its buy rating on Titan, with the target price revised to Rs 5,100 from Rs 5,350 earlier. The company's FY30 roadmap targets approximately 20% annual revenue growth, aiming to double consolidated revenues by the end of the period. The jewellery market share goal has been increased to 11% by FY30, up from 8.5% in FY26. Titan is now targeting a total network of 1,400 stores. CaratLane revenue doubled to Rs 4,700 crore over FY23–FY26, and the company has set a target of 2x revenue and 2.5x EBIT by FY30. Titan's international business achieved margin positivity for the first time in FY26. Damas is expected to deliver high-single-digit EBIT margins by CY29. The watches and eyewear segments are both targeted to double their scale by FY30, following a doubling of automatic watch volumes in FY26.
Morgan Stanley Maintains Underweight on Wipro
Morgan Stanley has maintained its underweight rating on Wipro with a target price of Rs 192. Analysts noted that the company's near-term growth outlook remains clouded by portfolio and client-specific challenges, though no incremental deterioration was observed in the current April-June quarter (Q1FY27). Analysts projected Wipro to continue lagging behind industry peers in quarter-on-quarter revenue growth. They maintained the medium-term margin guidance of 17–17.5% but warned that upcoming wage hikes may suppress margins below this range in the near term. They also noted that revenue compression stems from severe industry-wide competition rather than just AI-driven productivity gains being passed to clients. Analysts observed that modern deal structures are blurring the lines between organic and inorganic growth, with strategic contracts often requiring upfront productivity commitments. They highlighted a non-linear AI adoption curve where client spend involves the simultaneous cannibalization of existing services and the buildup of new AI-focused offerings.
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