Centrum Broking Downgrades Bata India

Centrum Broking has shifted its stance on Bata India from 'reduce' to a 'sell' recommendation, setting a target price of Rs 1,174, indicating a potential 12% downside. The adjustment follows subdued consumer sentiments affecting Bata's revenue in the Oct-Dec quarter. However, the company's focus on end-of-season sales, new product launches, and improved inventory management could enhance foot traffic. Analysts anticipate lower volume growth and increased marketing expenditures to impact operating margins. Key risks include significant input cost inflation, demand weakness, and heightened competition.

Elara Securities on Steel Authority of India

Elara Securities India maintains a 'reduce' rating on Steel Authority of India, with a target price of Rs 104, reflecting a 5% downside. The steelmaker's margins have been pressured by weak steel prices. Although volumes are expected to be robust in the Jan-Mar quarter, capacity constraints pose a medium-term growth challenge. The absence of a meaningful recovery in steel prices, weak operational metrics, and elevated debt levels, despite no major capital expenditures, are significant hurdles.

Prabhudas Lilladher Recommends Lupin

Prabhudas Lilladher advocates a 'buy' for Lupin, with a target price of Rs 2,420, suggesting an 18% upside. Lupin's strong Oct-Dec quarter performance is noted, with expectations for sustained margins due to a robust US pipeline. The firm's FY26/27E EPS estimates remain largely unchanged. Potential risks include competition in gSpiriva and delays in new US product launches.

ICICI Securities on Crompton Greaves Consumer Electricals

ICICI Securities reiterates a 'buy' recommendation for Crompton Greaves Consumer Electricals, albeit with a reduced target price of Rs 440, indicating a 29% downside. Positive outlook is based on a revival in Butterfly's profitability and stable revenues. The lighting division's strong performance, surpassing most peers, and initiatives to drive premiumisation and distribution in fans are highlighted. Solar pumps and air coolers have also shown strong growth.

BNP Paribas on Ashok Leyland

BNP Paribas rates Ashok Leyland as 'outperform', with a target price of Rs 285, implying a 31% upside. The company's solid margins are expected to continue, with improvements in MHCV sales mix, market share gains in LCVs, and robust growth in defense and export businesses. These factors are seen as catalysts for strong earnings growth potential.