HSBC has a buy on Glenmark Pharma with the target price at Rs 2,380. After analysing the company’s annual report, analysts said that IGI, the company’s innovation arm, is set to be a self-funding unit, but they feel a steady debt reduction path is the key to show improved management execution. They also said that the FDA clearance of the Monroe plant and FDA approval for gFlovent are the key catalysts for the stock.CLSA has a high conviction outperform rating on Indus Tower with the target price at Rs 520, down from Rs 595. Analysts said that the company’s board approved foray into Africa, beginning with Nigeria, Uganda and Zambia. Airtel Africa has 37,579 towers, of which 2,157 are owned and these countries account for under 500 towers. Hence, Indus’ planned revenue diversification is unlikely to be significant despite anchor customer relationship with Airtel Africa. Analysts also said that they had expected management to focus on improving Indus’ capital structure by paying out high dividends. Also, though Indus’ board is committed to the reinstatement of distributions, but with an unjustified delay in dividends.Citigroup has a buy rating on M&M Finance with a target price of Rs 292. Analysts said that the company is making progress in its journey to strengthen controls and compliance while it is driving risk/collections management through centralization and verticalization. The management guided for low-teens growth in vehicle financing portfolio with tractors and refinancing expected to outpace.Nuvama has a buy rating on UBL with the target price at Rs 2,400. Analysts said that the company expanded production of its flagship brand in Andhra Pradesh, adding nearly one–third incremental capacity in the state. They believe localisation can potentially improve margins and shall prevent stock-outs in peak season, particularly in the April-June quarter. Also, UBBL is adding a new canning line in Telangana to ease cans-supply constraints.PL Capital has an accumulate rating on Bajaj Electricals with the target price at Rs 664. Analysts believe festive-led demand would revive sales. They have revised upward their FY26/FY27 earnings estimate after factoring in lower non-operating cost and reduction in fixed overheads. The management said that new product development is expected to contribute ~40% to total revenue by FY26, supported by R&D spends of ~2% of revenue. The company is also reviewing its entire supply chain management strategy including manufacturing, and procurement to optimize associated direct cost and reduce outsourcing. Due to continued losses at Nirlep factories, the company is planning to restructure this business.Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.