Brokerage Reports Today (2 Nov 2025): Top Analyst Targets for Indian Stock Market Shares
Top Foreign and Domestic Brokerage Reports on Indian Stock Market Shares (2 November 2025)
The Indian stock market saw a wave of fresh research updates on 2 November 2025, as both foreign and domestic brokerages released new reports, updated target prices, and reviewed the performance of several well-known companies. With earnings season underway, analysts focused heavily on fundamentals, valuations, and sector trends before revising their price expectations for 2026.
This article provides an easy-to-understand breakdown of all the major brokerage calls published on 2 November 2025, along with:
Current Market Price (CMP) at the time of the report
Target Price (TP) given by the brokerage
Key reasons for upgrade/downgrade
Simple explanations for everyday readers
This is news coverage only, not a buy/sell recommendation.
Market Mood on 2 November 2025
The overall market tone on 2 November 2025 was slightly cautious. Benchmark indices corrected after touching new highs, foreign flows slowed, and the rupee continued to remain under pressure. Despite this, brokerages remained optimistic on selected sectors such as:
Banking & NBFCs
Power & Energy
IT services
Consumer and FMCG
PSU stocks
Several companies received fresh target prices, signalling how analysts expect them to perform over the next 12 months.
1. Shriram Finance – Strong Support from Foreign Brokerages
Brokerages: CLSA & Morgan Stanley
CMP (approx): ₹784
New Target Prices:
CLSA: ₹840
Morgan Stanley: ₹785
Foreign brokerage houses maintained their positive outlook on Shriram Finance after strong quarterly results.
Why analysts are bullish:
Steady loan growth
Strong vehicle finance portfolio
Controlled credit cost
Healthy asset quality
Both brokerages kept “Buy/Outperform” ratings, expecting stable growth in FY26 and FY27.
2. Mphasis – Domestic Brokerage Upgrades Target
Brokerage: Elara Capital
CMP: ₹2,764
New Target Price: ₹3,340
Elara Capital raised its target price due to:
A strong order book
Robust deal pipeline
Stable margins
Positive traction in BFSI clients
The brokerage reiterated a BUY rating, calling Mphasis one of the most stable mid-cap IT companies in India.
3. Bajaj Electricals – Hold Rating with Slight Downside
Brokerage: Nirmal Bang
CMP: ₹513
Target Price: ₹504
Nirmal Bang issued a Hold rating and slightly trimmed the target price after:
Weak consumer demand
High channel inventory
Margin pressure in appliances
Mixed performance across product categories
The brokerage maintained a neutral stance until demand recovers.
4. Adani Power – Target Price Increased by ICICI Securities
Brokerage: ICICI Securities
CMP: ₹163
New Target Price: ₹187
ICICI Securities upgraded Adani Power due to:
Aggressive capacity expansion
Long-term PPAs offering earnings visibility
Industry-wide expectations of higher power demand
The report highlighted valuation comfort, but also pointed out risks like fuel availability and regulatory changes.
5. REC Ltd – Motilal Oswal’s Positive Re-Rating Call
Brokerage: Motilal Oswal
CMP: ₹386
Target Price: ₹465
REC remained a favourite among domestic brokerages in the power-finance segment.
Key reasons:
Strong loan demand from renewable projects
Stable asset quality
Government focus on transmission & green energy
Attractive valuations
Motilal Oswal retained its BUY rating with expectations of steady earnings growth.
6. GAIL (India) – Stable and Consistent Performer
Brokerage: Motilal Oswal
CMP: ₹182.80
Target Price: ₹205
Brokerages continued to prefer GAIL due to:
Strengthening gas demand
Improving pipeline utilisation
Margin expansion
Healthy balance sheet
GAIL remained one of the top PSU energy picks.
7. Star Health – Long-Term Growth Story
Brokerage: Motilal Oswal
CMP: Not specified in report summary
Target Price: ₹570
Analysts maintained a bullish stance.
Why?
Expanding health insurance market
Brand leadership
Strong distribution network
Profitability improving post-pandemic
Star Health continues to be treated as a structural long-term growth stock.
Short-Term Brokerage Calls (Technical Trading Ideas)
These calls are short-term in nature, based on price charts, not long-term fundamentals.
8. Oberoi Realty – Short-Term Buy Call
Brokerage: Anand Rathi
CMP Zone: ₹1,780–1,790
Target: ₹1,850
The brokerage cited strong chart structure and support zones.
9. Fortis Healthcare – Momentum Buy
CMP: ₹1,020–1,030
Target: ₹1,090
Healthcare stocks were showing strength after Q2 earnings.
10. Ambuja Cements – Technical Upside Seen
CMP: ₹566–570
Target: ₹595
Anand Rathi noted strong volume action and improving cement pricing trends.
Low-Priced Stocks Under ₹100 – Technical Picks
These are trader-friendly stocks, not investment recommendations.
11. Sigma Solve
CMP: ₹50s
Target: ₹60
Short-term chart breakout noted.
12. Atal Realtech
CMP: Mid-₹20s
Target: High-₹20s
Accumulation pattern visible.
13. Sagility
CMP: ₹70s
Target: ₹80–82
Positive price action highlighted.
Sector-Wise Understanding from 2 Nov 2025 Reports
NBFCs:
Still strong. Shriram Finance, REC remain favourites.
Energy & Power:
GAIL, Adani Power and REC received positive outlooks.
IT Services:
Mphasis stands out with strong deal wins.
Consumer Durables:
Mixed view – Bajaj Electricals under pressure.
Healthcare:
Fortis positive on short-term charts; Star Health positive for long-term.
Cement & Infra:
Ambuja Cements and Oberoi Realty showed chart strength.
Low-Ticket Stocks:
Active among short-term traders, not for long-term investing.
What Retail Investors Should Learn
Brokerage reports are not guaranteed outcomes.
They are analysis based on available data.Foreign & domestic views differ.
But both focus on long-term fundamentals.PSU stocks still have strong institutional support.
IT and Financials remain core long-term sectors.
Technical calls are short-lived – not for long-term investors.
Final Takeaway
The brokerage reports published on 2 November 2025 paint a picture of a market that is:
Fundamentally strong
Selectively bullish
Sector-wise rotating
Driven by earnings and valuations
Stocks like Shriram Finance, Mphasis, REC, Adani Power, GAIL and Star Health enjoyed positive rating support, while Bajaj Electricals saw caution because of weaker demand trends.
For short-term traders, names like Oberoi Realty, Fortis Healthcare, Ambuja Cements, Sigma Solve and others were highlighted for short-term chart patterns.
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