Brokerage Views: Motilal Oswal On ITC, Citi On Wipro And More

Citi Research has Wipro Ltd. on its radar, and initiated coverage on Indegene Ltd. as well. Motilal Oswal Financial Services shares its positive outlook on ITC Ltd.

NDTV Profit tracks what the brokerages are putting out on stocks and sectors. Here are all the top calls from analysts that you need to know about on Thursday.

Motilal Oswal on ITC

Reiterates its 'buy' rating on the stock and a target price of Rs 500 apiece, implying a potential upside of 17% from the previous close.
The company is looking to grow beyond macro recovery.
Implementing new initiatives and expanding its product portfolio.
Steady macro government initiatives to help ITC sustain volume growth.
Management is hopeful for positive steps by the government in the budget.
The company can achieve low to mid-single digit cigarette volume growth.
Mid to high single-digit EBIT growth in the medium term.
Initiatives by the government will drive rural consumption.
ITC's FMCG business has outperformed peers.
Growth outlook is positive for the FMCG business in the near term.
Paper business is seeing weakness.
Agri business remains volatile due to curbs on agri commodity trading.
Budget will be a key monitorable for taxes on cigarettes and overall consumption boost.

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Citi Initiates 'Sell' On Indegene

Initiates coverage with a 'sell' rating on the stock and a target price of Rs 510 apiece, implying a potential downside of 7.1% from the previous close.
Expects the company to benefit from the accelerated digitalisation of life sciences industry and mining opportunities in existing marquee clients.
Expects earnings before interest and taxes margin to remain stable in FY25 and FY26.
Current valuations appear to be pricing in the positives.

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Citi On Wipro

Maintains a 'sell' rating on the stock and a target price of Rs 455 apiece, implying a potential downside of 15.5% from the previous close.
⁠Sees multiple risks to high investor expectations going into first quarter of FY25.
Sees a slow recovery ahead and flat revenue YoY in FY25.
The sharp price movement factors possibility of small positive QoQ guidance in second quarter of FY25.
The deal total contract value in Q1 will likely be healthy, given the $500 million deal is already announced.
TCV is lumpy and overall TCV TTM trends have been sluggish.
Management churn could impact revenue growth in the medium term.

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Bain & Co. On QSR Sector

Food services market in India is expected to grow at 10–12% compound annual growth rate.
Online food delivery is estimated to grow at 18% CAGR, reaching Rs 21.2 lakh crore over seven years.
Online food to contribute 20% to the overall food services market by 2030.
Penetration to rise from 12% in 2023 to 20% by 2030.
Addressable customer base to reach 450 million by 2030 amid urbanisation and rising affluence.
Incremental growth is expected to come from other tier 2 cities as well
Gen-Z and younger cohorts comprise 40% of consumption.
QSRs are expected to grow 40% faster than the overall market from 2023 to 2030.

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Kotak Institutional Equities On Lupin

Gave a double upgrade to rating to 'add' from 'sell'.
Price target raised to Rs 1,805 apiece from Rs 1,400 per share, implying an 11% upside from last closing price.
Company line-up of new products will ensure remarkable year for the company's US sales in FY26, it said.
Expects US sales to grow 12% to $914 million in FY25 and 11% to $1,013 million in FY26.
Expects company's robust US sales trajectory to continue amid stable US generics pricing environment.
'Myrbetriq' and 'Tolvaptan' drugs set to make next fiscal remarkable. Tolvaptan is expected to be launched in first quarter of FY26.
Expects $106 million from Tolvaptan in FY26 will be much above street estimates.