Buy or sell: Stock recommendation by brokers for August 26, 2025

JM Financials initiated a sell rating for ITC Hotels, citing limited near-term growth despite strong recent performance. Kotak Institutional Equities recommends buying Reliance Industries, highlighting improved free cash flow. Goldman Sachs has a neutral stance on TVS Motors, anticipating new scooter launches to boost market share. Jefferies suggests buying Bajaj Finance, noting manageable SME segment stress and consistent growth.