Antique Stock Broking has provided its latest investment ratings and target prices for several prominent Indian stocks, including Larsen & Toubro (L&T), Dr Reddy's Laboratories, Vijaya Diagnostic Centre, and Mahindra & Mahindra Financial Services (MMFSL). The brokerage's analysis, published on September 22, 2026, suggests varying outlooks, with potential upsides reaching up to 21% for some scrips.
Larsen & Toubro (L&T) Retains 'Buy' Rating
For infrastructure giant Larsen & Toubro, Antique Stock Broking has reaffirmed its 'Buy' rating. The target price for L&T remains unchanged at Rs 4,736 per share, compared to a prevailing market price of Rs 3,906. This implies a significant potential upside of approximately 21% for investors. Antique estimates L&T's Price-to-Earnings (PE) ratio at 26.6 times for FY27, 19.8 times for FY28, and 16.8 times for FY29. Its Enterprise Value to Earnings Before Interest, Taxes, Depreciation, and Amortization (EV/EBITDA) multiples are projected at 17.9 times, 14.2 times, and 12 times for the respective fiscal years.
Dr Reddy's Laboratories on 'Hold'
Dr Reddy's Laboratories has been assigned a 'Hold' rating by Antique. The brokerage has set a target price of Rs 1,160 against a current market price of Rs 1,202. This target indicates a potential downside of around 3.5%. The drugmaker's P/E ratio is estimated at 30.2 times for FY27, 22.4 times for FY28, and 16.8 times for FY29. Its EV/EBITDA multiples are forecast at 18.2 times, 13.5 times, and 9.9 times for the same periods.
Vijaya Diagnostic Centre Recommended as 'Buy'
Antique has maintained a 'Buy' rating for Vijaya Diagnostic Centre. The target price for the diagnostic chain is set at Rs 1,570, marginally above its current market price of Rs 1,548, suggesting an upside of approximately 1%. The brokerage values the company at 48 times its estimated first-half FY29 earnings per share (EPS). Antique anticipates Vijaya Diagnostic to achieve impressive Compound Annual Growth Rates (CAGRs) of 21% for revenue, 22% for EBITDA, and 29% for Profit After Tax (PAT) over the FY26-29E period.
Mahindra & Mahindra Financial Services Also a 'Buy'
Mahindra & Mahindra Financial Services (MMFSL) also secured a 'Buy' rating from Antique Stock Broking. The target price for MMFSL is Rs 420, compared to a current market price of Rs 355, implying an upside of about 18%. The brokerage values MMFSL at approximately 1.9 times its estimated first-half FY29 price-to-book value (P/B). Its P/B multiples are shown as 1.7 times for FY27, 1.5 times for FY28, and 1.4 times for FY29.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.