Buy or sell: Stock recommendation by brokers for November 12, 2025

CLSA has an outperform rating on Bajaj Finance with the target price at Rs 1,200. Analysts said the NBFC major’s July-Sept quarter (Q2FY26) was a good quarter across most parameters, with key financial metrics largely in line with estimates.

The company’s assets under management growth was largely steady at 24% on the year (YoY) with secured loans growing faster than SME and two-wheeler loans. Also the company’s net interest margin (NIM) was largely stable, while fee and other income were slightly stronger than estimates. On the asset quality front, it was a mixed quarter. The company’s management continued to guide to 1.85-1.95% credit cost for the full year, but reduced its loan growth guidance to 22-23%.UBS has a neutral rating on Voda Idea with the target price at Rs 9.7. Analysts said the telecom services firm’s Q2FY26 was broadly in line while its market share loss continued at a slower pace compared to last year. They also said Voda Idea’s net loss at Rs 5,560 crore was lower than our estimated loss of Rs 6,700 crore due to lower than expected interest charges. Analysts are awaiting management’s commentary on its ongoing capex and deployment, progress on the launch of 5G services, its planned debt raise, further developments on relief measures related to AGR / spectrum, and the overall outlook for the near to medium term.

Jefferies has a buy on Syrma SGS Technology with the target price at Rs 800. Analysts said the company’s Q2FY26 was an all-round beat to the brokerage’s estimates. They said that after two consecutive quarters of YoY sales decline, the company posted a strong sales growth that was broad-based across key product segments. Each of its auto, consumer and healthcare sales grew between 25-35% YoY, whereas industrials posted muted growth of 9%.

EBITDA margin was healthy yet again.Goldman Sachs has a buy Solar Industries with the target price at Rs 18,215. Analysts said the company’s Q2FY26 numbers were ahead of estimates. The company announced its best-ever revenue of Defense & International segments, both EBITDA rose 24% YoY while EBITDA margin expanded. The company had a capex of Rs 760 crore in H1FY26 compared to Rs 1,010 crore in FY25. They also pointed out that the company’s working capital days expanded slightly by end-Sept.

The company has an orderbook of about Rs 17,100 crore, of which about Rs 15,500 crore is from the defence sector.Morgan Stanley maintained its equal-weight rating on Britannia Inds with the target price at Rs 5,469. Analysts said after Varun Berry resigned as its MD after a 13-year tenure, Rakshit Hargave, who was to take over as executive director & CEO, will now be joining as MD & CEO for a five-year term. The company’s board remains confident that it can attain new heights under the new management team.Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.