Indian brokerage firm JM Financial has identified three high-conviction stocks with significant upside potential. The firm reiterated 'Buy' ratings on Dr Reddy's Laboratories (target Rs 1,522) and Zomato (target Rs 450), citing strong growth drivers. Mahindra & Mahindra maintained its 'Add' rating with a target of Rs 4,032, supported by its robust automotive and farm equipment businesses.