Top Stock Picks: Buy, Hold, or Watch? Analysts Weigh In on Voltas, Indigo, DLF & More

CLSA has a ‘hold’ rating on Voltas with a target price of ₹1,375, citing strong secondary sales ahead of summer, though market share losses were due to seasonality. The company prioritizes absolute profit growth but faces challenges in certification issues and domestic capacity expansion.

Indigo has a ‘buy’ rating from Jefferies with a target of ₹5,700, expecting a strong Q4 driven by higher pricing per passenger and early double-digit capacity growth in FY26, with international expansion as a key driver.

DLF is rated ‘neutral’ by Nomura with a target of ₹700, projecting strong pre-sales exceeding ₹20,000 crore in FY26. Risks include a slowdown in NCR and NRI demand, while strong launches could be an upside.

UNO Minda receives an ‘outperform’ rating from Macquarie with a target of ₹1,157, supported by a diversified revenue mix and growth opportunities from Korean automakers and new OEM products. Lastly, HSBC maintains a ‘hold’ rating on

PI Industries, lowering the target price to ₹3,500 due to weak export demand and struggles in its core business, with new ventures requiring time to scale up, leading to uncertainty.

Top Stock Picks: Buy, Hold, or Watch? Analysts Weigh In on Voltas, Indigo, DLF & More

Voltas

CLSA recommends holding Voltas shares with a target price of ₹1,375. The company is experiencing strong sales as summer approaches, driving demand for cooling products like air conditioners. Earlier declines in market share were temporary and attributed to seasonal factors. Voltas now aims to outpace industry growth by focusing on overall profit rather than just margins. However, challenges remain, including the need to resolve certification issues (such as meeting quality standards) and expand domestic manufacturing to reduce reliance on imports. Successfully addressing these concerns could strengthen its market position.

Indigo

Jefferies suggests buying Indigo stock with a target price of ₹5,700. The airline expects a strong Q4, driven by higher ticket prices and increased travel demand. Over the next two years, it plans to expand flight capacity by 10–12% annually, maintaining its current growth trajectory. A key focus is expanding international routes to attract more passengers. With rising cash reserves, Indigo aims to fund growth without accumulating excessive debt, balancing expansion with financial stability.

DLF

Nomura rates DLF as “neutral” with a target price of ₹700. The real estate giant is expected to perform well again this year, but analysts suggest waiting for a better entry point. Pre-sales (bookings for upcoming properties) could surpass ₹20,000 crore in FY26, reflecting strong demand. Rental income from commercial properties is projected to grow at an annual rate of 12%, while operational cash flow may increase by 15% per year until FY27. However, potential risks include a slowdown in the Delhi-NCR property market due to oversupply or regulatory changes, as well as weaker demand from NRIs. On the upside, new project launches and price increases could boost growth.

UNO Minda

Macquarie gives UNO Minda an “outperform” rating with a target price of ₹1,157. The company’s diverse product portfolio—ranging from car lights to EV components—reduces its dependence on any single segment. Growth opportunities include partnerships with South Korean automakers for advanced vehicle parts and collaborations with existing clients to develop new products. These initiatives position UNO Minda to benefit from emerging trends such as electric vehicles and automation in the auto industry.

PI Industries

HSBC maintains a “hold” rating on PI Industries but lowers the target price from ₹3,700 to ₹3,500. The company continues to face challenges due to weak global demand for agrochemical exports. Its core business remains under pressure, while new ventures in specialty chemicals require time to scale up. Investors may need to wait for clearer signs of recovery or successful expansion in these new areas before considering a more optimistic outlook.