Whalesbook
Even as Indian equity markets faced a downturn this week, with the Nifty 50 and Sensex each slipping 2%, leading research firms are highlighting select stocks for their investment potential. Major brokerages, including Motilal Oswal, Nomura, Jefferies, Nuvama Institutional Equities, Elara Capital, and JM Financial, have issued 'Buy' ratings for ten stocks. These picks come with projected returns ranging from 15% to 48%, as analysts focus on underlying value and growth prospects beyond immediate market volatility.
Motilal Oswal's Picks
Motilal Oswal has initiated coverage on Delhivery with a 'Buy' rating and a target price of ₹570, signaling a potential 27% upside. The brokerage forecasts the express segment revenue to grow at a 16% CAGR from FY25-FY28, driven by e-commerce expansion and market consolidation. They anticipate Delhivery's sales to rise around 14% annually, with operating profit (EBITDA) potentially surging by 44% and net profit (PAT) by 52% per year over the same period.
Radico Khaitan is also a preferred pick for Motilal Oswal, with a target price of ₹3,850, implying a 20% return. The brokerage notes the Karnataka government's proposed excise policy changes, including an Alcohol-in-Beverage (AIB) tax system, as a key development for the liquor sector.
Motilal Oswal also favors Sunteck Realty, assigning a 'Buy' rating and a target of ₹530, representing nearly 48% upside. They expect Sunteck Realty to achieve a 23% pre-sales CAGR from FY26-FY28, supported by new project launches and an expanding portfolio. The company added projects worth approximately ₹5,000 crore in FY26, with a future launch pipeline of ₹6,000-7,000 crore.
Cyient DLM, while facing short-term revenue declines in Q4FY26 due to a high base, retains a 'Buy' rating from Motilal Oswal with a target of ₹470 (31% upside). The brokerage expects significant improvement from the next financial year, fueled by new client additions and higher-margin defense-linked electronics orders.
Nomura's Outlook
Nomura maintains a 'Buy' call on Mahindra & Mahindra, setting a target price of ₹4,662, which implies a substantial 44% upside. The firm's optimism is rooted in strong demand for utility vehicles, growing electric offerings, and steady performance in tractors and subsidiaries. Dealer feedback indicates robust demand for models like Scorpio N and Bolero, with persistent supply constraints.
Hyundai Motor India receives a 'Buy' rating from Nomura, with a target price of ₹2,698, suggesting a 43% upside. The valuation is based on a forward earnings multiple, supported by a robust product pipeline and a shift towards premiumization. Nomura anticipates government policies will continue to support EV penetration.
JM Financial and Elara Capital
JM Financial rates PNB Housing Finance 'Buy' and raised its target to ₹1,150 from ₹950, an implied 17.5% upside. The brokerage finds the stock attractive at a 1x P/B ratio for FY28, noting that re-entry into developer finance and a growing share of affordable segments could boost yields.
Elara Capital recommends Sagility India with a 'Buy' rating and a target price of ₹54, indicating a 26% potential upside. The firm highlights strong client relationships, servicing seven of the top 10 US healthcare payers, with potential for significant revenue growth from these accounts.