Buy or sell: Stock recommendation by brokers for September 2, 2025

Kotak Institutional Equities maintained its add rating on Reliance Industries with a target price of Rs 1,555. Analysts said that the company reiterated its earlier target to double earnings before interest, taxes, depreciation and amortisation (EBITDA) between FY2022 and FY2027.

For organised retail, the company expects 20%+ revenue compounded annual growth rate (CAGR) over the next three years while for the FMCG business, it has a five-year ambition of Rs 1 lakh crore revenue. They also said that the company has a long-term ambition of being India's largest FMCG company with a global presence. The company also announced a new JV with Meta and has expanded its partnership with Google cloud.Nomura maintained its buy rating on Ather Energy with a price target of Rs 458.

Analysts said that Ather has unveiled EL platform, a new electric scooter platform, and also connected mobility as it continues to strengthen its position as a tech & innovation leader in e2w space. The company is focusing on enhancing the overall rider experience. Analysts are now looking at the success of the next-gen fast-charging rollout and timely commissioning of Ather’s Aurangabad facility.InCred re-initiated its coverage on Delhivery with a reduced rating and a target price of Rs 300.

Analysts see headwinds for the company and they feel Ecom Express acquisition may be a damp squib in FY26-27. They also feel Amazon and Flipkart's third-party logistics (3PL) foray to hamper Delhivery. They also pointed out that the company achieved only marginal operating leverage in FY20-25 while its recent performance remains insipid.

Analysts feel the upside risks to the stock price lies in higher-than-expected margins.Morgan Stanley has an overweight rating on Torrent Power with the target price at Rs 1,444. Analysts said that the company has a letter of award (LoA) for a 1,600-megawatt thermal power plant in MP. They believe the plant can generate a 15-17% internal rate of return (IRRs), assuming a 70:30 debt-equity ratio. They also estimate capacity charge could be Rs 4.1-4.3/unit. Analysts said Torrent Power’s balance sheet has sufficient headroom for growth.Goldman Sachs has a buy on Uno Minda with the target price at Rs 1,450. Analysts feel the stock price incorporates partial benefit from Uno Minda’s Suzhou Inovance partnership to supply electric car components, starting 1Q27. These components can potentially increase Uno Minda’s car SUV end market kit value from Rs 90,000 per unit presently, to above Rs 2 lakh per unit and should offer operating leverage more visibly in FY28.

They said that the company has confirmed one OEM customer for Phase-1 of plant operations, and as more electric car launches flow through over the next 12 months, they see upside optionality.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.