RIL, Lenskart & more: Top stocks to watch for on February 23

Analysts said the company stands out as a rare combination of superior execution, cost leadership, and disciplined growth (hallmarks of the broader JSW group) amongst Indian cement players.

With an attractive capacity pipeline, a structurally advantaged operating model, and deep group synergies still only partially unlocked, JSWC is positioned to scale into India’s top fine cement players by FY30.

JSWC also leads the sector on blended cement and ESG.Motilal Oswal Financial Services has initiated a buy on Lenskart with the target price at Rs 600.

Analysts said the company has built strong moats in a difficult-to-scale category.

They also feel the near-term free cash flow (FCF) generation is impeded by upfront capex on the upcoming Hyderabad facility.

And they expect FCF to improve beyond FY28.

Although they said Lenskart’s valuation is at a premium to other leading retailers, the same is justifiable.Macquarie has an underperform rating on United Spirits (USL) with the target price at Rs 1,350.

Analysts said Pernod India saw sales growth of about 5% in Oct-Dec 2025 quarter (Q3FY26).

They also pointed out that United Spirits saw a 10% sales growth in this 6-month period ending Dec ’25 against 8% seen for Pernod India.

While like marginal market share gains seen in Dec quarter, inflationary headwinds for bulk scotch prices and muted outlook on volume growth due to Maharashtra tax hikes makes us cautious.HSBC has a hold rating on ITC with the target price at Rs 360.

Analysts said their market checks suggested ITC has hiked prices by 20-30% to offset higher taxes, but only on a part of its portfolio for now.

They said while the downside is limited, there is a lack of upside triggers.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own.

These opinions do not represent the views of The Times of India)