Fund Houses Update – 17 July 2025

Dear Trader…

Fund Houses Recommendations

Jefferies on ITC Hotels: Maintain Buy on Company, raise target price at Rs 270/Sh (Positive)
Macquarie on ITC Hotels: Maintain Buy on Company, raise target price at Rs 270/Sh (Positive)
Kotak on Thermax: Maintain Add on Company, raise target price at Rs 3800/Sh (Positive)
MS on LTTS: Maintain Underweight on Company, raise target price at Rs 4500/Sh (Positive)
HSBC on LTTS: Maintain Hold on Company, target price at Rs 4790/Sh (Positive)
HSBC on Tech M: Maintain Buy on Company, target price at Rs 1900/Sh (Positive)
Nomura on Tech M: Maintain Buy on Company, target price at Rs 1810/Sh (Positive)
Jefferies on Consumer Durables: Voltas, Blue Star, Crompton Consumer, VGuard, Whirlpool and Amber are key summer plays (Neutral)
Citi on LTTS: Maintain Sell on Company, target price at Rs 4015/Sh (Neutral)
Jefferies on Tech M: Maintain Underperform on Company, cut target price at Rs 1400/Sh (Neutral)
Macquarie on Tech M: Maintain Underperform on Company, raise target price at Rs 1110/Sh (Neutral)
MS on Tech M: Maintain Underweight on Company, cut target price at Rs 1555/Sh (Neutral)
Investec on Angel One: Maintain Buy on Company, target price at Rs 2700/Sh (Neutral)
Nomura on Glenmark: Maintain Neutral on Company, target price at Rs 1500/Sh (Neutral)

Warm Regards…

Nikhil Bhatt

Business Editor

Investment Point

Contact :- 99390 80808