ONGC, Meesho & more: Top stocks to watch on June 11

Morgan Stanley has an overweight rating on ONGC with the target price at Rs 345. According to analysts, over the last two decades, ONGC has paid about $33 billion in dividends, roughly equal to its current market cap, while generating an average post-tax return on capital employed (ROCE) of 12%. Over the next 20 years of 2P reserve life, analysts expect dividends to be at double the historical rate. A 3% compounded annual growth rate (CAGR) of production from FY26-FY29, with growth largely driven by gas production domestically and turnaround in profitability in international operations, drives a 14% earnings CAGR.HSBC has initiated its coverage of Max Financial Services with a buy rating and a target price of Rs 2,120. Axis Max Life Insurance (AMLI), the key operating subsidiary of Max Financial, is one of fastest growing life insurance companies in India. Analysts believe its focus on diversifying distribution and products will drive sustainable, predictable growth with stable margins. They also believe sustained operating performance and progress on potential mergers are key catalysts for the company. Sector valuations have de-rated over the years due to regulatory headwinds but believe Max Financial’s resilience is reflected in its fundamentals. Analysts also flagged some key downside risks to the stock that include delays, regulatory hurdles, or an unfavourable outcome in reverse merger; the potential introduction of bancassurance limits; and any reduction in Axis Bank’s focus on selling insurance products.Jefferies has initiated its coverage of Meesho with the target price at Rs 225. Analysts said Meesho is building a scale-led value commerce platform anchored in affordability, discovery, and logistics efficiency. A loyal user base, supported by a deep MSME supply network, is driving a strong flywheel. A growth-led approach should keep monetisation back-ended, with the take rates expanding over time. The company’s balance sheet is net cash with negative working capital, supporting capital-efficient growth.DAM Capital has initiated its coverage of Physicswallah with the target price at Rs 140. Analysts said this is one Indian ed-tech story where scale did not come at the P&L's expense. They expect the company to achieve a 24% revenue CAGR and a 71% EBITDA CAGR over FY26-FY28. Driven by near-zero-cost category expansion online (Civil Services, CA, State Boards), maturing Vidyapeeth cohorts offline, and operating leverage from about 2,500-strong centralized content and faculty base serving both channels. Analysts believe it is the only major Indian ed-tech player to approach profitability which is the direct payoff of the industry's lowest customer acquisition cost. Also, its refusal to pay the star-teacher salaries broke every peer.CLSA has an outperform rating on SBI with the target price at Rs 1,275. Analysts looked through the lender’s annual report. They said FY26 was a good year for the bank. On the deposit side, focus was on ‘retailisation’ of deposits, with retail savings and term deposits (TD) growing 12-15% on the year (YoY). Corporate salary accounts grew 11% in FY26 to cross 2 crore. There was marked improvement in priority sector lending (PSL) compliance with a sharp decline in PSL certificate purchases. Rural Infrastructure Development Fund (RIDF) assets, too, have been stagnant since FY24, implying a lower drag on net interest margin (NIM). During the year, SBI launched an entire operations process re-engineering exercise, which is going on. Variants of business loan products were also launched during the year, they said. (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)