Kotak Securities has assigned an add rating to Punjab National Bank (PNB) with a revised target price of Rs 125, down from the earlier target of Rs 140. Analysts noted that in the January-March quarter of fiscal year 2026 (Q4FY26), the lender demonstrated steady overall profitability. The return on equity (RoE) was supported by low credit costs and a decline in retirement-related provisions. The bank's asset quality remained stable, while its high provision coverage ratio (PCR) ensured low ongoing credit costs. However, analysts pointed out that the bank's core profitability remained weaker compared to its peers.
Jefferies on Marico
Jefferies has issued a buy rating on Marico with an increased target price of Rs 960, up from the previous target of Rs 900. Analysts highlighted that the company is a consistent compounder and delivered strong results in Q4FY26. The management expressed considerable confidence in its outlook. The company expects its earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth in fiscal year 2027 to be in the high teens, with mid-teens growth anticipated through fiscal year 2030. The management believes that internal factors are well-positioned, with external factors being the only concern, according to analysts.
Nomura on Aadhar Housing
Nomura has recommended a buy on Aadhar Housing with a target price of Rs 615. Analysts noted that the company has consistently delivered on its guidance. The management maintains a 20% year-on-year growth guidance for assets under management (AUM) and net profit in fiscal year 2027. In Q4FY26, the company's net profit growth of 27% year-on-year was driven by 20% AUM growth and moderation in operating expenses. For fiscal year 2027, the company has provided a growth guidance of 20% year-on-year for both AUM and net profit. Additionally, the company has indicated that there is no impact from the West Asia war on its operations as yet.
Goldman Sachs on KEI Industries
Goldman Sachs has maintained a buy rating on KEI Industries with an increased target price of Rs 5,005, up from the earlier target of Rs 4,585. Analysts stated that the ramp-up of new capacity is expected to drive the company's growth in fiscal year 2027 faster than its peers. The company's end-market demand remains resilient amid capital expenditure. It is showing faster growth than the industry leader in the medium term, which justifies its premium valuations.
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