Page 21 - Industry Report

Insurance sector on upswing; brokerages forecast 9-10% FY26 retail APE rise

MOFSL has named Max Financial Services Ltd (MFSL), the parent of Max Life Insurance, as its preferred pick in the sector

Telcos poised for next tariff hike in Dec; Airtel to challenge for top spot

Motilal Oswal remains positive on the telecom sector and maintains 'Buy' ratings on Bharti Airtel and Reliance Jio via Reliance Industries

Motilal Oswal sector of the week: Defence; check top bets, target here

According to Motilal Oswal, defence electronics continues to see long-term demand for radars, avionics, communication systems and electronic warfare solutions

Phillip Capital sees brighter colours for paints sector; check top picks

According to Phillip Capital, the risk reward is now favourable for market leaders that are well positioned to navigate near-term volatility and benefit from the revival in India's paint demand

Jio IPO to drive 15% tariff hike, boost sector FCF, says JM Financial

JM Financial values Jio at about $140 billion in equity ($153 billion enterprise value) and argues that the IPO will reinforce the "free cash flow growth story"

Buy the dips in auto ancillary stocks for long-term gains, say analysts

Auto ancillary stocks have surged in FY26 on the back of strong November 2025 auto sales and a GST rate cut. Analysts see medium-term upside but advise selective investing as valuations turn rich

Defence pack set for strong momentum; budget boost, exports to drive growth

Motilal Oswal remains positive on Bharat Electronics, Hindustan Aeronautics and Bharat Dynamics, assigning 'Buy' ratings with target prices of ₹500, ₹5,800 and ₹2,000, respectively

Auto ancillaries to outpace OEMs, says Elara; check key drivers, top picks

Elara identified four factors critical for auto ancillary companies to outperform OEMs: product expansion, segment expansion, geographic expansion and inorganic initiatives

B&K Securities positive on Indian stock exchanges; initiates 'Buy' on BSE

According to B&K Securities, Indian exchanges-- BSE, NSE--are structurally well-placed as market depth and product maturity increase.

Motilal Oswal sector of the week: Capital goods; check top stock bets here

Motilal Oswal said that stable execution and rising export momentum could shape capital goods sectors' H2FY26 outlook

Auto sector rides on GST 2.0, festive demand; Nirmal Bang names top picks

The brokerage said most major OEMs reported double-digit year-on-year volume growth, aided by festive spillover, GST 2.0-led affordability, improved rural sentiment and robust export demand

Small, mid-sized real estate players may outperform: Emkay; check top bets

Best real estate stocks to buy: Emkay Global assigned a 'Buy' rating on Lodha Developers, Sunteck Realty, and Arvind Smartspaces, an 'Add' rating on DLF, and a 'Reduce' rating on Oberoi Realty

Nomura backs Indian AMCs amid retail surge; Nippon Life, HDFC AMC top picks

Nomura expects healthy net inflows to continue as AMCs roll out new offerings such as specialised investment funds (SIFs) and extend their reach deeper into tier-II and tier-III markets

Nomura sees re-rating potential in Indian Banks; Axis, ICICI, SBI top picks

The brokerage argued that the profitability downcycle, marked by several quarters of net interest margin (NIM) compression and elevated credit costs, is now behind the sector.

Indian consumer firms to see Q3 margin spur as input costs soften: Nomura

Nomura sees GCPL, Tata Consumer, Marico, and Britannia as the key near-term winners of the commodity downcycle.

Auto rally doesn't downshift as Q3 outlook stays steady on firm demand

Strong order books keep automakers driving past slowdown fears

India IT sector nearing FY27 revival; AI ramp-up to be key, says Nomura

Valuations across the sector remain attractive, but Nomura stays selective. It has rolled forward its valuation framework to H1FY28 while maintaining target multiples.

Emkay favours non-ferrous over steel; sees earnings upgrade in VEDL, Nalco

If current spot prices for aluminium, zinc and silver hold through FY27, Emkay estimates Vedanta and Nalco to see Ebitda upgrades of about 5.5 per cent and 4.9 per cent

Building materials to revive in H2, says Motilal Oswal; top stock bets here

MOFSL has initiated coverage on Century Plyboards with a 'Buy' rating and Cera Sanitaryware with a 'Neutral' stance

Kotak 'assertive' on affordable HFCs; Aadhar, Aavas, Aptus among top picks

Within the space, Kotak's preferred names are Aadhar Housing Finance and Aavas Financiers, citing their positioning and growth potential. It also finds Aptus Value attractive for its profitabilty