L&T, Sun Pharma, SBI Life: Brokerages Eye Top Stocks
By ThePip Desk
Discover top brokerage recommendations for L&T, Sun Pharma, and SBI Life. Expert analysis on cement, steel, auto, and pharma sectors.
Brokerage firms have pinpointed new investment opportunities across key sectors, issuing fresh ‘Buy’ and ‘Outperform’ recommendations for several prominent stocks. These insights cover capital goods, insurance, mining, automobiles, and pharmaceuticals as of September 2, 2026.
Brokerage Picks & Targets
- Goldman Sachs maintains a ‘Buy’ rating on SBI Life, setting a target price of Rs 2235, citing the company’s insulation from regulatory changes and a strong 14-15% growth guidance on Individual APE.
- Citi recommends ‘Buy’ for Larsen & Toubro (L&T) with a target price of Rs 4650, attributing this to robust order inflow and attractive valuations.
- For Coal India, HSBC maintains a ‘Hold’ with a target price of Rs 440, while UBS holds a ‘Buy’ rating at Rs 550, both noting strong August volume growth driven by high power demand.
- Goldman Sachs also maintains a ‘Buy’ on Eicher Motors, projecting a target price of Rs 9400, supported by visible demand and an expanding customer base.
- Sun Pharma has garnered ‘Buy’ or ‘Outperform’ ratings from HSBC (target price Rs 2120), Morgan Stanley, and Bernstein (target price Rs 2235), with its MFN deal removing tariff overhang for two years.
- Goldman Sachs holds a ‘Neutral’ rating on Samvardhana Motherson, setting a target price of Rs 158, based on steady consumer momentum and an expanded aerospace order backlog.
Sectoral Performance & Outlook
The cement sector experienced a 1% month-on-month price decline in August, as reported by Jefferies, primarily due to monsoon weakness, although underlying demand remains healthy. JPMorgan advises a selective approach within the steel sector, favoring JSW Steel amidst persistent cost pressures.
August auto sales figures showed strong year-on-year growth, according to analyses from Citi and Jefferies. This growth occurred despite delayed channel stocking, indicating resilient consumer demand in the automotive segment.
Index Consolidation & Potential
CLSA’s Laurence Balanco suggests the Nifty index is currently consolidating, caught within a broader trading range. In contrast, the NSE Midcap and Smallcap indices exhibit more constructive technical profiles, indicating significant upside potential for these segments.