Stocks to watch on brokerages on June 4: Godrej CP, M&M, Tata Power, CEAT, cement stocks, Embassy REIT, Brook, Infosys, JSW Steel in focus
Here are key brokerage and fund house recommendations for stocks in focus today:
Ceat CLSA : Outperform , target Rs 3,933
Camso integration and overall margin revival are near-term objectives; company expects 200–300 bps margin expansion in FY26; Camso deal offers $1.2 bn revenue potential after 3 years.
Nomura : Buy , target Rs 3,945
Focus on growing ahead of industry; steady market share gains in 2W and PCR; OHT mix expected to rise to 25% by H2FY26.
Nuvama: Buy, target Rs 3,800
Positive FY26 exports outlook; targeting gains in PCR/TBR segments; building in 14% revenue CAGR and 26% EBITDA CAGR over FY25–27.
Bharti Airtel
Macquarie: Outperform, target raised to Rs 2,050
Sees effective industry tariff support, improving FCF and RoIC; ARPU projected to rise 11% to Rs 290 by FY27.
Tata Motors
Nomura: Neutral, target Rs 799
Harrier EV to drive EV penetration; estimates EV penetration at 4%/5% for FY26/27 vs 2.3% in FY25; positioning similar to M&M BEVs.
KEC International
Nomura: Buy, target Rs 985
Healthy order pipeline at Rs 1.8 lakh crore; domestic T&D segment expected to see healthy growth over next 3–4 years; targeting over Rs 3,000 crore revenue from cables business over next 2 years.
Cement stocks (Sector view)
Jefferies: Positive sector viewQ4 EBITDA growth strong at 11% YoY and 67% QoQ; expects further pricing recovery in South in Q1; sees sector profitability turnaround in FY26.
Top picks: UltraTech, Shree Cement, JK Cement.
HSBC : Embassy Office Parks REIT : Buy , target Rs 435 Brookfield REIT : Buy , target Rs 330
Distribution per unit grew strongly, yields at 6–7%; improving occupancies and new asset builds key growth drivers; expecting mid-teen returns again in FY26.
Jefferies: Positive view
Q4 sector revenue growth at 15% YoY; Bharti remains preferred pick; continued subscriber loss at Vodafone Idea (VIL) seen as positive for Bharti/Jio.
Morgan Stanley on Godrej CP , M&M , Tata Power — Overweight (Positive)
HSBC on Indian Economy — expects inflation to trend below target; 25 bps rate cut expected.
Moody's on Indian Banks — neutral; asset quality to hold, gold loan growth may slow.
MS on JSW Steel, ICICI Lombard, Infosys, Tata Motors — already mapped (Neutral / Overweight / Equal Weight).
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisors before making any investment decisions.
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