Brokerages have recently initiated coverage on three companies with buy ratings, all projecting significant upside potential. According to reports from The Economic Times, brokerages initiated coverage on Adani Ports, Welspun Corp and Wakefit Innovations with buy ratings. Their price targets imply returns of 19% to 34% based on Thursday's closing price, indicating strong analyst confidence in these stocks' growth prospects.
Adani Power received a ₹250 price target from Motilal Oswal Financial Services with a current market price of ₹209.80, implying an 19% upside potential. As reported by The Economic Times, analysts view the company as a natural winner of India's upcoming thermal capacity build-out. The valuation premium over peers NTPC and JSW Energy is attributed to superior capital allocation and strong growth trajectory.
Welspun Corp received a ₹3,250 price target from Jefferies with a current market price of ₹2,646.15, indicating a 22.8% upside potential. According to The Economic Times, the company is positioned to benefit from a multi-year upcycle in oil and gas infrastructure spending in the US and Middle East. The premium valuation is justified by strong earnings growth outlook, robust order book, and high return on equity metrics.
Wakefit Innovations received a ₹200 price target from Nomura with a current market price of ₹149.45, suggesting a 33.8% upside potential. As reported by The Economic Times, the company offers attractive valuation at 40 times and 29.5 times FY28 and FY29 Price to Earnings Estimates. The expansion into the home furniture segment, where the Total Addressable Market is higher than peers, improves long-term growth visibility and enhances the risk-reward profile.
