𝗧𝗼𝗽 𝗦𝘁𝗼𝗰𝗸𝘀 𝗧𝗼 𝗪𝗮𝘁𝗰𝗵 𝗼𝗻 𝗝𝘂𝗻𝗲 𝟴: 𝗧𝗶𝘁𝗮𝗻, 𝗕𝗵𝗮𝗿𝘁𝗶 𝗔𝗶𝗿𝘁𝗲𝗹, 𝗔𝗱𝗮𝗻𝗶 𝗣𝗼𝗿𝘁𝘀, 𝗠𝗮𝗿𝘂𝘁𝗶 𝗦𝘂𝘇𝘂𝗸𝗶, 𝗮𝗻𝗱 𝗠𝗠

Morgan Stanley rates Titan overweight with a target price of Rs 5,182. Analysts project 19% annual jewellery revenue growth through FY30. The company aims to grow market share from 8.5% to 11%. Gold exchange programs now drive about 50% of revenue. Supply remains secure despite stricter import rules. Jewellery demand dipped briefly after recent comments from the Prime Minister but has since rebounded. The plain gold opportunity remains large. The company plans to double its eye care market share by FY30 and open 100 new stores in FY27.

CLSA rates Bharti Airtel outperform with a target price of Rs 2,310. Airtel Money, the Africa mobile money unit, plans an IPO in the second half of 2026. The unit reportedly seeks to raise $1.5 to $2 billion at a $10 billion valuation. This marks a four-fold jump from 2021 and equals about 60% of Airtel Africa's market cap. FY26 revenue hit $1.4 billion, up 36% year over year. Earnings before interest, taxes, depreciation, and amortisation rose 31% year over year to $689 million. The service reaches 29% of Airtel Africa's 184 million mobile subscribers. Nigeria has yet to scale up. Airtel Money makes up about 20% of the Africa region. Africa accounts for 25% of Bharti Airtel's consolidated operations.

Goldman Sachs maintains a buy rating on Adani Ports and raised the target price to Rs 1,870. May 2026 cargo volumes hit 48.3 million tonnes, up 16% year over year. Liquids rose 33% and containers rose 17%. Quarter-to-date cargo stands at 91.4 million tonnes, up 15% year over year. Thermal coal handling is rebounding and is expected to stay strong through the summer. May logistics rail volumes fell 19% year over year to 48,170 container units. Growth drivers include Tata Power-linked coal at Mundra, the Vizhinjam transshipment project, liquid cargo at Mundra, and multimodal logistics parks. Earnings estimates and the target price moved up due to strong volume momentum and improving return on capital employed.

JP Morgan imetoa tathmini ya overweight kwa Maruti Suzuki ikiwa na bei inayolengwa ya Rs 16,415. Wachambuzi waliweka hisa hiyo kwenye uangalizi wa kichocheo chanya (positive catalyst watch) mnamo Aprili. Wanatarajia kundi la wanunuzi wa mara ya kwanza kuendelea kuimarika baada ya kupunguzwa kwa GST. Kampuni hiyo inamiliki sehemu kubwa katika kundi hili. Daftari lake la oda na uwezo mpya unapaswa kuisaidia kupata sehemu ya soko. Hali ya jumla ya mauzo ya jumla (wholesale volumes) ya Aprili-Mei 2026 iliongezeka kwa 38% ikilinganishwa na mwaka uliopita. Hali ya jumla ya mauzo ya rejareja (retail volumes) ilikua kwa 22% ikilinganishwa na mwaka uliopita. Sehemu ya soko la rejareja ilipanuka kwa pointi 1.2 za asilimia ikilinganishwa na mwaka uliopita hadi kufikia 40%. Hisa hiyo imeshindwa kufikia kiwango cha Nifty Auto index kwa 4% tangu kuanza kwa FY27. Wachambuzi wanatarajia faida (margins) kufikia kiwango cha chini katika nusu ya kwanza ya FY27 na kisha kuimarika katika nusu ya pili ya FY27 na FY28.

Nomura imetoa tathmini ya buy kwa M&M ikiwa na bei inayolengwa ya Rs 4,580. Wachambuzi wanatarajia uwezo wa uzalishaji na mifano mipya kuendesha ukuaji. Kampuni inatarajia ukuaji wa kiasi cha mauzo wa kati hadi juu (mid-to-high teens) kwa SUV katika FY27. Mifano mingi inakabiliwa na mahitaji makubwa lakini ugavi umekabiliwa na changamoto katika miezi miwili iliyopita. Kampuni inatarajia hili kutatuliwa hivi karibuni. Uwezo wa uzalishaji wa SUV unapaswa kupanuka kwa kiasi kikubwa kufikia Machi 2027. Uzinduzi wa jukwaa la NU-IQ utafuata. Kampuni inapanga kuzindua magari 10 ya internal combustion engine na magari 6 ya battery electric vehicles kuanzia FY27 hadi FY31. Kiwanda cha Nagpur kitazalisha SUV 500,000 na trekta 100,000 kuanzia mwaka 2028.