Fund House Recommendations – July 24, 2025

🔹 Tech & IT
🟢 Positive

Macquarie on Persistent: Outperform, TP raised to ₹7,330

MOSL on Persistent: Outperform, TP at ₹6,800

Jefferies on Infosys: Buy, TP raised to ₹1,860 (from ₹1,660)

Centrum on Infosys: Buy, TP raised to ₹1,942 (from ₹1,917)

Axis on Infosys: Add, TP raised to ₹1,720 (from ₹1,700)

BofA on Infosys: Buy, TP at ₹1,840

🟡 Neutral

Systematix on Infosys: Hold, TP raised to ₹1,644 (from ₹1,600)

MS on Infosys: Equal-weight, TP raised to ₹1,700 (from ₹1,670)

Macquarie on Infosys: Neutral, TP cut to ₹1,490 (from ₹1,500)

Nomura on Infosys: Buy, TP cut to ₹1,880 (from ₹1,900)

DAM on Infosys: Buy, TP cut to ₹1,820 (from ₹1,840)

MOSL on Infosys: Neutral, TP cut to ₹1,750 (from ₹1,800)

🔹 Pharma & Healthcare
🟢 Positive

BofA on Dr. Reddy’s: Buy, TP raised to ₹1,600 (from ₹1,500)

Centrum on Dr. Reddy’s: Buy, TP raised to ₹1,510 (from ₹1,370)

Axis on Dr. Reddy’s: Buy, TP raised to ₹1,260 (from ₹1,205)

🟡 Neutral

Jefferies on Dr. Reddy’s: Underperform, TP raised to ₹1,100 (from ₹1,010)

Systematix on Dr. Reddy’s: Hold, TP raised to ₹1,159 (from ₹1,126)

DAM on Dr. Reddy’s: Buy, TP at ₹1,240

MS on Dr. Reddy’s: Equal-weight, TP at ₹1,298

Macquarie on Dr. Reddy’s: Neutral, TP at ₹1,190

🟢 Positive

MS on Fortis Health: Overweight, TP at ₹790

🔹 Financials & AMCs
🟢 Positive

Bernstein on Nuvama: Outperform, TP at ₹9,790

Bernstein on 360 One WAM: Outperform, TP at ₹1,410

🟡 Neutral

GS on Bajaj Housing Finance: Sell, TP at ₹89

MS on SBI Cards: Equal-weight, TP at ₹775

🔹 Consumer & Retail
🟢 Positive

Macquarie on Westlife: Outperform, TP at ₹835

Macquarie on Sapphire Foods: Outperform, TP at ₹365

🟡 Neutral

Jefferies on Kajaria Ceramics: Downgraded to Hold, TP raised to ₹1,225

🔹 FMCG
🟡 Neutral

MS on Tata Consumer: Overweight, TP at ₹1,255

Citi on Tata Consumer: Buy, TP cut to ₹1,275

MOSL on Tata Consumer: Buy, TP cut to ₹1,270

🔹 Others
MS on Coforge: Overweight, TP at ₹1,880 (🟡 Neutral sentiment)