Jefferies has initiated its coverage on Groww with a Buy rating and a price target of Rs 180. Analysts said Groww is the largest broker in India in terms of active customers despite being launched in FY21. They believe Groww has multiple levers to increase compound annual growth rate (CAGR) of earnings per share (EPS) by 35% in FY26-28. These include 19 percent growth in brokerage business led by customer base and market share gains, five-fold growth in new initiatives such as margin trading functionality and asset management, and margin expansion of 700 basis points.IIFL Finance has initiated its coverage on Firstsource Solutions with a Buy rating and a price target of Rs 420. Analysts said the company is the largest and well-diversified pure-play BPO service provider in India with annual revenues of over $1 billion, putting it in a good position in terms of scale and agility. With its UnBPO approach, it initiates the paradigm shift in the BPO industry from scale/labor arbitrage to technology arbitrage, driven by: inch-wide, mile-deep approach; domain contextualized technology; results-based approach, where more than 50% of sales are based on results-based pricing; and an agile business model. The turnaround over the last two years was driven by the new CEO under One Firstsource. The strategy was credible and resulted in a significant increase in large deals from about one per quarter in FY24 to 4-5 per quarter in FY26; strong new/strategic logo wins; Increasing the number of customers across all sales areas; strong annual contract value and larger contract sizes.Macquarie initiated its coverage on Lenskart with an Outperform rating and a target price of Rs 530. India’s leading eyewear retailer with an integrated supply chain has a competitive advantage over its rivals in terms of cost, design and efficiency, analysts said. The company has a proven industry-leading growth history, increasing its prospects for market share gains from the current 5% to over 40% in other countries. Improved supply chain utilization is expected to push earnings before interest, taxes, depreciation and amortization (EBITDA) margin to close to 33% of store-level margin and triple return on invested capital (ROIC) to over 20% in FY26-FY28.CLSA has a Hold rating on Voltas with a price target of Rs 1,170. Analysts said the company’s management pointed out that room air conditioner (RAC) demand improved sequentially in the third quarter of fiscal 2026, although it could still decline on an annual basis. Inventory, while down sequentially, remains elevated at 40-45 days compared to 20-25 days last year, with pre-purchases occurring in some cases due to changes in energy efficiency (BEE table). The company’s pricing strategy continues to be evaluated, taking into account several factors to decide the pass-on percentage to end users. A recovery in demand in the RAC segment and developments related to price increases remain key catalysts for the business in the near term, analysts said.Goldman Sachs has a Buy rating on Max Healthcare with a price target of Rs 1,325. Analysts said the company recently announced entry into the Pune market through the acquisition of Yerawada Properties. The acquisition of an equity stake should take place gradually. In the first tranche, the Company intends to acquire 100% of the Class A shares, representing 100% of the voting rights and 50.22% of the economic interest in YPPL. No further details regarding the remaining property were disclosed. In addition, the board has also approved the construction of a 450-bed specialty hospital on YPPL land.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips from experts are their own. These opinions do not reflect the views of The Times of India.)
