Several blue-chip stocks are in focus on June 8, 2026, as leading brokerages issue fresh ratings and target prices, highlighting growth drivers ranging from jewellery market share gains and African mobile money IPO to record cargo volumes and SUV demand revival.
| Stock | Rating | Target Price | Key Highlights |
|---|---|---|---|
| Titan | Overweight (Morgan Stanley) | Rs 5,182 | 19% jewellery revenue growth through FY30; market share target 11% from 8.5%; gold exchange programs drive ~50% revenue; demand rebounded after PM's comments; eye care market share double by FY30, 100 new stores in FY27. |
| Bharti Airtel | Outperform (CLSA) | Rs 2,310 | Airtel Money IPO in H2 2026; could raise $1.5-2bn at $10bn valuation (4x from 2021); FY26 revenue $1.4bn (+36% YoY), EBITDA $689mn (+31% YoY); penetration 29% of 184mn subscribers; Nigeria yet to ramp. |
| Adani Ports & SEZ | Buy (Goldman Sachs) | Rs 1,870 | May 2026 cargo 48.3mn tonnes (+16% YoY); liquids +33%, containers +17%; QTD cargo 91.4mn tonnes (+15% YoY); thermal coal rebounding; Vizhinjam transshipment ramp-up; earnings estimates raised. |
| Maruti Suzuki | Overweight (JP Morgan) | Rs 16,415 | Positive catalyst watch; FTB segment revival from GST cuts; Apr-May 2026 wholesale +38%, retail +22% YoY; retail market share +1.2pp to 40%; underperformed Nifty Auto by 4% since FY27 start; margin compression fears. |
| M&M | Buy (Nomura) | Rs 4,580 | Strong growth outlook; UV space mid-to-high teens volume growth for SUVs in FY27; supply issues expected to resolve; SUV capacity expand by Mar '27; NU-IQ platform launch. |
Titan: Jewellery, Eye Care Expansion
Morgan Stanley maintained its overweight rating on Titan with a target price of Rs 5,182. Analysts projected a 19% annual jewellery revenue growth through FY30. The company aims to increase its jewellery market share from 8.5% to 11%. Its gold exchange programs now drive about 50% of revenue, and despite stricter import documentation, supply remains secure. Jewellery demand saw a brief impact after the Prime Minister's comments recently but has rebounded. The plain gold opportunity remains large. Separately, Titan plans to double its eye care market share by FY30, targeting 100 new store openings in FY27.
Bharti Airtel: Airtel Money IPO in Focus
CLSA has an outperform rating on Bharti Airtel with a target price of Rs 2,310. The IPO for Airtel Money, the African mobile money business, is scheduled for the second half of 2026. Airtel Money could raise $1.5-2 billion at a potential valuation of $10 billion, up four-fold from 2021, implying about 60% of Airtel Africa’s market cap. For FY26, Airtel Money's revenue was up 36% YoY to $1.4 billion, while EBITDA increased 31% YoY to $689 million. Penetration remains low at 29% of Airtel Africa’s 184 million mobile subscribers, with Nigeria yet to ramp up, indicating strong growth runway. The business contributes about 20% of the region, and Africa accounts for 25% of Bharti Airtel’s consolidated operations.
Adani Ports: Volume Momentum Drives Upgrades
Goldman Sachs maintained its buy rating on Adani Ports & SEZ with the target price raised to Rs 1,870. May 2026 cargo volumes reached 48.3 million tonnes, a 16% YoY increase, driven by a 33% rise in liquids and 17% in containers. Quarter-to-date cargo volumes are at 91.4 million tonnes, up 15% YoY and exceeding analyst expectations. Thermal coal handling is rebounding and expected to remain strong through summer. However, May logistics rail volumes were 48,170 container units, reflecting a 19% YoY decline. Key growth drivers include Tata Power-linked coal at Mundra, the Vizhinjam transshipment ramp-up, liquid cargo at Mundra, and multimodal logistics parks. Earnings estimates and target price were revised upward due to strong volume momentum and improving return on capital employed (ROCE).
Maruti Suzuki: GST Cuts Boost First-Time Buyers
JP Morgan has an overweight rating on Maruti Suzuki with a target price of Rs 16,415. Analysts placed the stock on positive catalyst watch in April, driven by expectations that the first-time buyer (FTB) segment should continue to revive after GST cuts. Maruti, with a disproportionate share in the segment, should benefit. Its outstanding order book and new capacity ramp-up should enable market-share gains. Apr-May 2026 volumes have recovered sharply with wholesale and retail growth at 38% and 22% YoY, respectively. Retail market-share expanded 1.2 percentage points YoY to 40%. However, the stock has underperformed the Nifty Auto index by 4% since the beginning of FY27, driven by fears of commodity-driven margin compression. JP Morgan’s thesis is that margins could bottom in H1FY27 and improve in H2FY27/FY28.
M&M: SUV Demand Optimism, Capacity Expansion
Nomura has a buy on M&M with a target price of Rs 4,580. Analysts said the company’s strong growth outlook is intact, expecting capacity and model cycle to drive growth. At M&M’s Asia conference, key takeaways included optimism on mid-to-high teens volume growth for SUVs in FY27. Most models have high demand, but supplies were affected over the past two months. The company expects this issue to be resolved in the coming months, and SUV capacity to expand significantly by Mar '27. The launch of its NU-IQ platform will further support growth.
These ratings and developments underscore divergent opportunities across consumer, telecom, infrastructure, and automotive sectors, with near-term catalysts ranging from IPO events to volume momentum and policy tailwinds.
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