Hot stocks: Brokerages on Tata Motors, Infosys, Ambuja Cements and Dixon Technologies

Brokerage firms such as UBS have maintained a sell rating on Tata Motors, while CLSA has a hold rating on Dixon Technologies and underperform ratings on Infosys and Ambuja Cements, respectively. Additionally, CLSA has increased the target price for Dixon Technologies, despite maintaining its hold rating on the stock.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

UBS on Tata Motors: Sell | Target price: Rs 825

UBS has maintained a sell rating on Tata Motors with a target price of Rs 825.


Range Rover Sport has experienced a sharp increase in discounts. JLR has performed well over the past few years, benefiting from strong demand for its latest models, which has positively impacted ASPs and margins. However, the success of these models is starting to moderate, and the company's order book is now below pre-COVID levels.
UBS anticipates that discounts will continue to rise, although near-term deliveries may be affected by disruptions caused by flooding at an aluminum supplier.

Additionally, incentives for Range Rover, JLR’s apex model, are expected to increase from near-zero levels soon. The combination of rising discounts, moderating growth, and a lack of new ICE or hybrid launches could lead to significantly weaker financials for FY26.

CLSA on Infosys: Hold | Target price: Rs 1,747

CLSA maintained a hold rating on Infosys with a target price of Rs 1,747.

Infosys' outlook for the remainder of FY25 remains unchanged. CLSA anticipates continued demand tailwinds in certain areas of BFSI, but also notes incremental headwinds from the EU auto sector. The global brokerage firm observes that demand uncertainty around key macro issues is gradually fading. Infosys appears to be well-positioned for a potential revival in discretionary demand in FY26, with a stronger emphasis on digital services compared to its peers.

CLSA on Ambuja Cements: Underperform | Target price: Rs 570

CLSA has maintained an underperform rating on Ambuja Cement with a target price of Rs 570.

Ambuja has reiterated its focus on enhancing profitability through cost savings and capacity expansion. The company has maintained its FY28 EBITDA/tonne (T) target of over Rs 1,500/T, supported by cost savings exceeding Rs 500/T.

A significant portion of these savings will come from increased use of renewable power, utilization of captive coal, and reduced lead distances. Ambuja plans to expand its capacity from 90 million tonnes (mt) to 140 mt over the next four years through both organic and inorganic growth. The medium-term outlook for industry pricing remains resilient, bolstered by high consolidation and the need for improved return on capital employed (ROCE).

CLSA on Dixon Technologies: Hold | Target price: Rs 12,100

CLSA maintained a Hold rating on Dixon Tech, while raising the target price to Rs 12,100 from Rs 11,400.

Dixon has outlined a robust growth outlook for both the near and medium term. In the short term, new customer acquisition and increased wallet share in mobile phones are expected to drive growth. Over the medium term, the company aims to enhance backward integration through component manufacturing and expand into new segments. Dixon targets a 20%-25% market share in the laptop segment and sees industrial EMS (PCB assembly) as a significant growth driver. The company is also exploring both organic and inorganic opportunities for expansion.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)