*Kunvarji: Fund Houses Recommendations* CLSA on *Tata Motors:* Upgrade toOutperform on Company, target price at Rs 930/Sh (Positive) Macquarie on *TVS Motors:* Maintain Outperform on Company, target price at Rs 2904/Sh (Positive) GS on *Polycab:* Maintain Buy on Company, target price at Rs 6510/Sh (Positive) GS on *KEI Ind:* Maintain Buy on Company, target price at Rs 3780/Sh (Positive) HSBC on *Maruti:* Maintain Buy on Company, target price at Rs 14000/Sh (Positive) Jefferies on *Mactotech:* Upgrade to Buy on Company, target price at Rs 1600/Sh (Positive) CLSA on *Godrej CP:* Upgrade to Hold on Company, target price at Rs 1015/Sh (Positive) CLSA on *Consumption:* Top long ideas are Zomato, Swiggy, VBL, Titan, ITC and DMART (Positive) Jefferieson *Auto:* TVS and Eicher Motors are preferred picks for two-wheeler buys. (Positive) GS on*Wire and Cables:* Growth drivers intact, risk reward better. Recent correction offers an opportunity for entry in the C&W sector (Positive) Macquarieon *Auto:* India’s 2W exports is geographically well diversified – LATAM and Africa accounted for 70% of exports by volume in FY24. (Positive) Investec on *Consumption:* Urban slowdown shall persisttill Q1FY26, and urban demand shall start reviving Q2FY26 onwards. We expect this revival on the back of tax cuts in the union budget and potential rate cuts by the RBI (Neutral) Citi on*Chemicals:* Implication of possible reciprocal tariffs imposed by US. EBIDTA impact for PI Industries/NavinFluorine/SRF at 12%/5%/4% (Neutral) CLSA on *Gas sector:* Spot prices of LNG expected to rise 21% in next 6 months (Neutral) JPMorgan on *Hindalco:* Maintain Overweight on Company, target price at Rs 670/Sh (Neutral) CLSA on *Colgate:* Maintain Hold on Company, target price at Rs 2559/Sh (Neutral) Nuvama on *ABB:* Maintain Buy on Company, cut target price at Rs 6650/Sh (Neutral) Nomuraon *ABB:* Downgrade to Reduce on Company, target price at Rs 4970/Sh (Negative) Macquarie on *CRDMO:* Sector benefiting from secular growth as well as regulatory tailwinds. Initiate Outperform on Divi's, Suven Pharma, Bluejet Healthcare, & Syngene (Positive) Macquarie on *Syngene:* Initiate Outperform on Company, target price at Rs 835/Sh (Positive) Macquarie on *Blue Jet:* Initiate Outperform on Company, target price at Rs 1000/Sh (Positive) Macquarie on *Suven Life:* Initiate Outperform on Company, target price at Rs 1500/Sh (Positive) Macquarie on *Divis Lab:* Initiate Outperform on Company, target price at Rs 7400/Sh (Positive)