Global and domestic brokerages have released fresh coverage across multiple sectors, providing updated ratings and price targets for key stocks including Trent, IndiGo, Vodafone Idea, Avenue Supermarts, and Groww. The comprehensive coverage spans retail, aviation, telecom, fintech, and hospitality sectors, alongside broader market strategy views.

Retail Sector Coverage

Trent receives continued support from Macquarie, which maintains its Outperform rating with a ₹4,900.00 target price. The brokerage attributes current sales weakness to cyclical factors, expecting recovery in the second half of CY26. Key growth drivers include the proposed revamp of Zudio stores to widen competitive positioning and investments in RFID technology to support operating EBIT growth. Macquarie views the current growth moderation as non-structural, with government demand support initiatives providing additional tailwinds.

Avenue Supermarts draws mixed analyst sentiment. Goldman Sachs maintains its Sell rating while raising the target price to ₹3,500.00 from ₹3,355.00, noting Q3 PBT beat expectations through gross margin expansion, though viewing the sharp margin improvement as unsustainable. Jefferies holds a more neutral stance with a Hold rating and ₹4,050.00 target, highlighting EBITDA margins reaching multi-quarter highs despite slower growth momentum.

Aviation and Telecom Updates

InterGlobe Aviation sees Kotak retaining its Add rating while trimming the target price to ₹5,300.00 from ₹5,350.00. The adjustment reflects revised fair value assumptions for crude oil and currency changes. Domestic demand resilience continues alongside international expansion progress, though regulatory scrutiny from CCI and aviation authorities remains a key downside risk.

Vodafone Idea and Indus Towers both receive Buy ratings from Citi, with targets of ₹15.00 and ₹515.00 respectively. The positive stance centers on expected AGR relief confirmation, which could provide material cash-flow support and potentially fast-track Vodafone Idea's planned ₹250.00 billion bank debt raise. This development may also enable future equity raises and allow Indus Towers management to resume dividend payouts.

Fintech and Hospitality Initiations

Groww enters coverage with Kotak Securities initiating a Buy rating and ₹190.00 target price. The brokerage highlights the platform's scale-building approach through trust and technology, positioning for profitable scale-up. Monetisation expansion across broking, margin lending, wealth, and consumer credit segments supports the positive outlook, with in-house technology providing speed, reliability, and cost advantages.

Lemon Tree Hotels receives a Buy rating from Investec with ₹187.00 target, focusing on the long-awaited Fleur demerger process. The separation is expected to unlock value in the asset-light, high-growth Fleur platform, which will emerge as a zero-debt entity post-demerger.

Broader Market Strategy

Strategic outlooks remain constructive across major brokerages. UBS maintains an Attractive stance on Indian equities, adding Varun Beverages and Tata Consumer to its model portfolio while removing Avenue Supermarts and ITC. JPMorgan sets year-end Nifty targets at 33,000/30,000/24,000 for bull/base/bear scenarios, expecting 7.00% YoY earnings growth for Nifty 50 companies.

Goldman Sachs sees improving prospects for 2026 after a weak 2025, with easier financial conditions and tax cuts expected to revive domestic growth. The brokerage retains an Overweight view on India with a Nifty target of 29,300.00 for end-2026, focusing on mass consumption revival, financials, defense, and energy security themes.

Multiple global and domestic brokerages have released comprehensive stock recommendations and target price updates across key sectors, providing investors with fresh perspectives on prominent companies including Divi's Laboratories, Apollo Hospitals, IDFC First Bank, and several others ahead of Tuesday's trading session.

Pharmaceutical Sector Updates

Jefferies has issued updated recommendations for the pharmaceutical and CRDMO sector, maintaining a positive outlook on select companies while exercising caution on others. The brokerage sees robust long-term prospects but advises short-term selectivity given the challenging environment.

Jefferies notes that CY25 was challenging for Indian CRDMOs due to destocking pressures, with CY26 expected to remain mixed amid volatility from patent expiries. The passage of the Biosecure Act is viewed as a key medium-to-long-term growth driver, while a softer base should aid growth optics from H2 CY26. Sai Life Sciences and Divi's Laboratories remain top picks based on execution strength.

Banking and Financial Services

Investec maintains its Buy rating on IDFC First Bank with a target price of ₹98, highlighting savings account rate cuts as an emerging key ROA lever. The rate cut could potentially lower costs by 15-20 bps and lift ROA by approximately 5 bps. IDFC First Bank remains a leader in savings account mobilisation, with multiple levers supporting further ROA expansion.

Healthcare Sector Outlook

Macquarie has updated its hospital sector recommendations, raising target prices while maintaining cautious ratings. Apollo Hospitals received an increased target price of ₹6,230 from ₹5,700, though the Underperform rating remains unchanged. Max Healthcare's target was raised to ₹825 from ₹615, also maintaining an Underperform rating.

Macquarie expects 2026 to be another subdued year for hospitals, with large bed additions anticipated before FY27-end. Management has flagged potential profitability pressure, while EBITDA drag from new hospitals may not be fully priced into consensus estimates.

Sector-Specific Insights

Goldman Sachs maintains a Buy rating on PTC Industries with a significantly raised target price of ₹24,725, citing progress in titanium metal capabilities and improved aerospace-grade positioning. The 600 tpa PAM facility represents a key milestone, while titanium ingot orders from ISRO establish PTC as a strategic supplier.

JPMorgan continues its Overweight rating on Indian Hotels, though the target price was reduced to ₹805 from ₹890. FY26-28 estimates were cut by 1-3% ahead of Q3 results, but the brokerage remains positive on the sector cycle, supported by scale benefits, execution capabilities, and strong balance sheets.

Market Strategy and Outlook

Citi expects Q3 EBITDA growth of around 11% YoY across the Nifty, with consumption recovery and accelerating loan growth remaining key positives. The brokerage maintains a Nifty December 2026 target of 28,500, with overweight recommendations on banks, telecom, autos, healthcare, and defence sectors.

Morgan Stanley anticipates revenue and profit growth in mid-single digits with modest margin expansion, noting that India is entering a higher earnings growth phase supported by policy stimulus. All ten sectors are expected to post positive revenue growth, with communication services, consumer discretionary, and industrials leading growth expectations.