Religare Broking has highlighted Aurobindo Pharma, Delhivery, and Ather Energy as potential stock-specific opportunities amid a period of anticipated Nifty consolidation. This view follows a strong recovery in the index, which closed at 24,021.65 on June 24. While these picks reflect specific technical setups, investors should note the distinct financial and regulatory challenges currently facing each company.
What Happened
Following a period of volatility, the Nifty index staged a recovery, closing at 24,021.65 on June 24, 2026. In this market environment, Religare Broking has suggested a selective, stock-specific approach, identifying Aurobindo Pharma, Delhivery, and Ather Energy as companies that may offer opportunities despite the broader market's anticipated consolidation. The brokerage's analysis focuses on technical chart patterns—such as potential trend reversals and bullish structures—as key indicators for these specific stocks.
The Brokerage Perspective
Analysts suggest that the Nifty may face resistance in the 24,150–24,200 range, with support likely around 23,650–23,750. In such a phase, the strategy emphasizes moving away from a broad-based market view toward sectors and individual stocks that show relative strength. This approach prioritizes companies that are demonstrating technical breakouts or operational recovery, which the brokerage believes could outperform as the wider index navigates near-term range-bound movement.
Business Context And Current Performance
Each of these companies currently operates in a distinct business environment with specific triggers and pressures.
Aurobindo Pharma recently reported consolidated revenue of ₹8,970 crore for Q4 FY26, reflecting a 5.3% year-on-year growth. However, net profit saw a 19% quarter-on-quarter decline. A significant monitorable for investors remains the regulatory environment; the company has faced USFDA inspection challenges, including an 'OAI' (Official Action Indicated) status for its Eugia Unit-III in Telangana, which can impact operational timelines and sentiment.
Delhivery has shown signs of operational maturation, with the company reporting a return to quarterly profitability with an EPS of ₹1.07 in Q4 FY26. The company is benefiting from strong volume growth in its express segment and is positioned as a key logistics partner for major e-commerce expansions. Despite this, logistics remains a capital-intensive sector, and maintaining profitability depends heavily on sustained consumption demand and efficient cost management.
Ather Energy, which listed in May 2025, is in an aggressive growth phase. The company recently announced plans to explore fundraising options via multiple instruments, including equity and convertible bonds, to support its manufacturing and retail expansion. While the stock has seen significant interest, it operates in a highly competitive electric two-wheeler market where margins are under pressure from price wars and the need for continuous R&D investment.
Risks And Monitorables
Investors assessing these stocks should look beyond technical chart patterns. For Aurobindo Pharma, the primary concern is the resolution of regulatory observations from the USFDA, which can affect product approvals. For Delhivery, the focus is on whether it can maintain its improved EBITDA margins amid intense competition in the logistics space. For Ather Energy, the key monitorable is the outcome and structure of its proposed fundraising, as this will determine the extent of equity dilution for existing shareholders. Investors should observe how these fundamental realities play out alongside the technical formations identified by the brokerage.