Search+Investment IdeasBrokerage calls on Swiggy, M&M, and Tata Steel. SynopsisTop brokerages issued fresh stock views following mixed Q1 FY27 earnings. Elara Capital downgraded Swiggy to Accumulate with a target of Rs 350 over delayed profitability. Morgan Stanley remained Overweight on M&M with a Rs 4,222 target, while Goldman Sachs kept a Neutral stance on Tata Steel at Rs 218.Brokerages remain constructive on select stocks despite mixed quarterly earnings, with Morgan Stanley reiterating its bullish stance on Mahindra & Mahindra, while Goldman Sachs maintained a neutral view on Tata Steel.M&M's strong revenue growth and business momentum kept the brokerage optimistic, whereas Tata Steel's robust domestic performance was offset by weaker-than-expected results from its Netherlands operations.Here is what the global BYETMarkets.com 4 mins readJul 31, 2026, 09:16:00 AM ISTGift this Story to your friendsFONT SIZEAbcSmallAbcMediumAbcLargeSAVEPRINTCOMMENTContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories & personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions & in-depth stock reportsSubscribe NowETUh-oh! This is an exclusive story available for selected readers only.Worry not. You’re just a step away.What’s Included withETPrime Membership
Buy, Sell or Hold: Elara Capital downgrades Swiggy; Morgan Stanley remains overweight on M&M
Top brokerages issued fresh stock views following mixed Q1 FY27 earnings. Elara Capital downgraded Swiggy to Accumulate with a target of Rs 350 over delayed profitability. Morgan Stanley remained Overweight on M&M with a Rs 4,222 target, while Goldman Sachs kept a Neutral stance on Tata Steel at Rs 218.
Elara downgraded Swiggy to Accumulate (Rs 350 target) citing delayed profitability; Morgan Stanley kept M&M Overweight at Rs 4,222 after Q1 earnings. Split broker calls on Indian equities signal caution on consumer spending and capex—risk factor for B2B SaaS vendors with India exposure.






