Stocks to watch on brokerages on June 3: Adani Ports, Finolex Cables, Zomato, Vodafone Idea in focus
A number of stocks will be in focus today based on fresh buy and overweight calls issued by leading brokerages in their latest reports.
Based on analyst commentary and targets, key stocks under positive radar for June 3 include Adani Ports, Finolex Cables, Zomato (Eternal), and Vodafone Idea.
Adani Ports
Jefferies has reiterated a Buy rating on Adani Ports with a target price of Rs 1,700. The brokerage highlighted strong long-term growth drivers, including plans to achieve a 5x rise in logistics revenue and EBITDA over FY25-29. Integrated logistics and international expansion are expected to drive incremental value for the company, while organic growth will continue in domestic port operations.
Finolex Cables
Jefferies maintained a Buy rating on Finolex Cables with a target price of Rs 1,235. The brokerage sees the company as a good proxy on housing and construction themes. Finolex Cables posted a slight Q4 beat and has benefited from a 12-13 percent price hike in FY25, with further hikes taken in May 2025. The company also expects opportunities from BharatNet projects, 5G rollout, and data center demand. Jefferies projects a +19 percent PAT CAGR over FY25-28e.
Zomato (Eternal)
Morgan Stanley has reiterated Overweight and named Zomato (Eternal) as its Top Pick, with a target price of Rs 320. The brokerage cited market leadership in both food delivery and quick commerce, superior unit economics, and a stronger balance sheet than peers, which reduces the risk of further dilution. Morgan Stanley views the risk-reward as favorable, with a potential downside floor around Rs 200-220.
Vodafone Idea
CLSA has rated Vodafone Idea as Outperform with a target price of Rs 8, while Citi maintains a Buy rating with a target of Rs 10. The stock remains under positive radar amid improving 4G coverage, a planned 5G rollout across 17 circles by August 2025, narrowing subscriber losses, and potential tariff hikes. The management is also focusing on completing its pending debt raise, which remains a key trigger.
Stocks under Neutral/EW view
Morgan Stanley maintained an Equal-Weight view on Coal India with a target of Rs 450, citing near-term caution on volumes due to inventory build-up and weak offtake.
Among today's brokerage calls, the most actionable positive ideas are Adani Ports, Finolex Cables, Zomato, and Vodafone Idea, where analysts see strong growth catalysts and supportive risk-reward setups.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
News desk at BusinessUpturn.com
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