Nirmal Bang Institutional Equities has started covering TVS Motor again and has given it a ‘Sell’ rating. They’ve set a target price of Rs 2,102 for the stock. This target values the company’s standalone business at 28 times the expected earnings per share for June 2026, which matches its average price-to-earnings ratio over the past five years.
**ONGC**
– **Target Price**: Rs 360 per share
– **Outlook**: Emkay Global has set a target price of Rs 360 for ONGC. The company exceeded expectations in Q1 with a 10% beat on EBITDA due to lower operational costs. Crude production fell slightly, but gas output was above estimates. ONGC’s management aims to boost oil and gas production by Q4FY25. Emkay Global has a ‘BUY’ rating due to improved volume outlook and attractive valuations.
**TVS Motor**
– **Target Price**: Rs 2,102 per share
– **Outlook**: Nirmal Bang Institutional Equities has resumed coverage with a ‘Sell’ rating and a target price of Rs 2,102. This valuation is based on 28 times the expected EPS for June 2026. The brokerage is cautious, believing the stock price has outpaced its fundamentals. They expect TVS Motor’s growth to lag behind industry averages.
**Vedanta**
– **Target Price**: Rs 460 per share
– **Outlook**: MOFSL maintains a Neutral rating with a target price of Rs 460. Vedanta plans significant expansion and is committed to deleveraging. The company aims to produce 300,000 barrels of oil per day and increase iron ore production. Expansion projects are scheduled to start in 2024 and 2025.
**Lupin**
– **Target Price**: Rs 1,952 per share
– **Outlook**: Nomura India has a ‘Buy’ rating and a target price of Rs 1,952, based on 27.5 times the expected EPS for FY26. Lupin’s Q1 results exceeded expectations, with higher sales and earnings. The growth is driven by strong performance in India and North America.
**Tata Power**
– **Target Price**: Rs 346 per share
– **Outlook**: Nuvama Institutional has a ‘Reduce’ rating with a target price of Rs 346. The stock is currently valued at a high multiple, and substantial profit growth is expected only after completing its renewable energy projects by FY27-28. The valuation includes new projects, but upside potential is seen as limited.
**Shree Cement**
– **Target Price**: Rs 33,400 per share
– **Outlook**: Nomura India maintains a ‘Buy’ rating and a target price of Rs 33,400. Despite a miss on Q1 EBITDA due to lower-than-expected realisations, the company’s expansion plans are on track. Shree Cement has recently commissioned a new unit and is progressing with its capacity expansion plans.
This summary captures the main points about each company’s performance and future stock price expectations.
