Brokerages remain upbeat on select companies across lifestyle, real estate, and logistics sectors despite varying challenges and growth drivers. Motilal Oswal and Elara Capital have shared their views on Raymond Lifestyle, Oberoi Realty, and TCI Express, highlighting key growth expectations and near-term challenges.
Motilal Oswal on Raymond Lifestyle share
Motilal Oswal reiterates its ‘Buy’ call on Raymond Lifestyle, setting a target price of ₹3,000. The brokerage firm is optimistic about a 12-14% double-digit growth in secondary sales, driven by festive and ongoing demand improvements. Additionally, a higher number of wedding days expected in H1FY26 further adds to the growth potential. Raymond Lifestyle is anticipated to achieve a 9-11% CAGR in revenue, EBITDA, and PAT over FY24-27.
Elara Capital on Oberoi Realty share
Elara Capital maintains its ‘Buy’ call on Oberoi Realty, with a target price of ₹2,350. The report emphasizes the strategic entry into Alibaug, which enhances its uber-luxury offerings in the Mumbai Metropolitan Region (MMR). The Gross Development Value is estimated at ₹4,000-4,500 crore, with key catalysts being large deal closures. The company is expected to deliver superior pre-sales growth at a CAGR of 59% (FY24-FY26E), with industry-leading residential EBITDA margins of 48-56% in H1FY25.
Motilal Oswal on TCI Express share
For TCI Express, Motilal Oswal maintains a ‘Neutral’ call with a target price of ₹940. The company faces industry headwinds, leading to muted volume growth in October-November and weak near-term outlook. Despite some growth during the festive season for express logistics, management does not foresee price hikes amid current conditions. Operational efficiencies are being challenged due to weak MSME demand and rising costs.
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