Mumbai: Brokerage firm HDFC Securities has updated its ratings and target prices for a dozen companies after reviewing their June quarter (Q1 FY27) earnings, turning more positive on stocks such as DLF, Marico, Godrej Properties, Century Plyboards and NOCIL, while maintaining a cautious stance on Nykaa, Kansai Nerolac and Prince Pipes. The brokerage’s latest review highlights how corporate earnings are influencing its outlook across sectors including real estate, FMCG, paints, chemicals and consumer businesses.
The review covers companies including DLF, Emami, Kansai Nerolac, Nykaa, BSE, Marico, Godrej Properties, Century Plyboards, NOCIL, Prince Pipes, Symphony and Motherson Wiring.
HDFC Securities raises targets on select stocks
HDFC Securities became more constructive on several companies following their June quarter performance.
The brokerage increased target prices for DLF, Marico, Godrej Properties, Century Plyboards and NOCIL, citing stronger long-term earnings visibility, healthy business fundamentals and improving growth prospects.
DLF remains a preferred pick
Among the companies reviewed, DLF continues to feature among HDFC Securities’ preferred real estate picks.
The brokerage retained its Buy rating on the stock and raised its target price to ₹752 from ₹709, despite the developer reporting a relatively weak June quarter due to deferred project launches. HDFC Securities believes the company’s robust launch pipeline, expanding rental portfolio and improving earnings visibility support its long-term growth outlook.
Positive outlook on Marico and Godrej Properties
The brokerage also remained optimistic on Marico and Godrej Properties, revising their target prices higher after reviewing their quarterly earnings.
According to HDFC Securities, both companies continue to demonstrate resilient operating performance and favourable long-term growth prospects within their respective sectors.
Cautious stance on Nykaa, Kansai Nerolac and Prince Pipes
While upgrading its outlook on several companies, HDFC Securities maintained a more measured approach towards Nykaa, Kansai Nerolac and Prince Pipes.
The brokerage retained a cautious view on these stocks following their quarterly results, reflecting concerns over earnings momentum, demand trends or valuations despite their established market positions.
Earnings remain key driver for ratings
The updated recommendations come after companies announced their June quarter financial results.
Brokerages typically reassess target prices and investment ratings after evaluating revenue growth, profitability, margins, management commentary and future business outlook. HDFC Securities said its revised recommendations reflect updated earnings expectations following Q1 FY27 performance.
What investors should note
Brokerage ratings and target prices represent analysts’ opinions rather than guaranteed outcomes.
Market experts advise investors to consider multiple research reports, company fundamentals, valuation metrics and their own financial goals before making investment decisions. Equity investments remain subject to market risks, and target prices may change depending on future business performance and broader economic conditions.
Conclusion
HDFC Securities’ latest post-Q1 review reflects a selective approach towards Indian equities, with higher target prices for companies such as DLF, Marico and Godrej Properties, while maintaining caution on Nykaa, Kansai Nerolac and Prince Pipes. The revised recommendations underline the importance of quarterly earnings in shaping brokerage expectations and investor sentiment.