Daijiworld Media Network – Mumbai

Mumbai, Jul 12: In Friday’s market session, top Indian corporates like Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL), Bharat Forge, and Glenmark Pharma found themselves in focus as global brokerages weighed in with stock updates, earnings analysis, and deal impact projections.

Brokerages reacted cautiously to TCS’s June quarter earnings, maintaining a ‘neutral’ stance. The target price remains steady at Rs 1,500, with analysts preferring to adopt a wait-and-watch approach, citing the need for further clarity on demand trends.

Following a change in leadership at consumer goods giant HUL, market watchers are closely tracking upcoming strategic shifts under the new top management. Analysts remain optimistic about the company’s long-term growth potential in India's expanding FMCG sector.

UBS has downgraded Bharat Forge, citing sectoral headwinds and valuation concerns. The downgrade comes alongside a similar call on Maruti Suzuki Ltd., reflecting a more cautious view on select auto and ancillary stocks.

In contrast, Glenmark Pharma has emerged as a strong positive on Dalal Street, with multiple brokerages giving thumbs-up following a major licensing deal with AbbVie — the largest of its kind by an Indian pharmaceutical company.

• SBC maintained a ‘buy’ rating and revised the target price upward to Rs 2,275 from Rs 1,720, calling the ISB-2001 licensing agreement “transformative.” Analysts estimate a potential Net Present Value (NPV) of Rs 320 per share stemming from this deal.

• Axis Capital also upgraded its target, raising it to Rs 2,300 from Rs 1,715 and described the deal as a “jackpot” for Glenmark, highlighting the unique mechanism of action and a projected $4 billion cash flow potential from the ISB-2001 molecule.

Both brokerages are yet to fully integrate the deal into their earnings estimates as they await its final closure but have already raised FY27 and FY28 earnings projections by up to 13%, primarily due to anticipated higher interest income.

With these developments, investors are likely to keep a close watch on further updates from Glenmark and HUL in particular, while TCS and Bharat Forge may see muted movement unless further triggers emerge.

As the earnings season gathers pace, stock-specific action is expected to intensify, especially in sectors such as IT, pharma, and consumer goods — sectors that continue to draw brokerage attention for their deal-making potential and leadership transitions.