Macquarie has rejigged its India Super 6s basket, removing Shree Cement and adding GE Vernova T&D India while retaining 18 stocks across three categories. According to reports from The Financial Express, the brokerage has maintained an 'Outperform' rating on all 18 stocks, with its latest target prices indicating potential total shareholder returns of up to 65% in select entities. The India Super 6s is divided into three categories: 'Stars' comprising core ideas, 'Hitters' as tactical ideas with a three-to-six-month horizon, and 'Rising Stars' featuring companies with market capitalisation below $10 billion, thematic optionality and a three-year horizon.
Macquarie's six Stars include Divi's Laboratories with a target price of ₹10,200 (20% upside), Titan at ₹5,600 (11% upside), TVS Motors at ₹4,325 (1% upside), JSW Steel at ₹1,393 (10% upside), Bharti Airtel at ₹2,220 (16% upside), and ICICI Bank at ₹1,700 (22% upside). As reported by The Financial Express, Divi's Laboratories remains among Macquarie's preferred stocks after strong results prompted earnings upgrades, with the brokerage expecting revenue and EPS to compound at 23% and 33% respectively between FY26 and FY28. ICICI Bank has been a drag on the Stars basket following the RBI's dovish policy stance, though Macquarie expects the longer-term investment case to remain intact.
The Hitters category includes GE Vernova T&D India with a target price of ₹5,470 (27% upside), Bharat Electronics at ₹550 (34% upside), Dixon Technologies at ₹16,000 (14% upside), Marico at ₹965 (14% upside), Cipla at ₹1,675 (15% upside), and Ashok Leyland at ₹192 (11% upside). According to The Financial Express, GE Vernova T&D India has been added on expectations of stronger growth, with Macquarie expecting meaningful growth acceleration driven by a stronger order pipeline, improving exports and margin recovery. Bharat Electronics remains a key tactical idea driven by rising confidence in potential large order wins and improving sentiment around BEL's participation in the upcoming 5th-generation fighter aircraft programme.
The Rising Stars category includes Lemon Tree Hotels with the highest implied upside at 65% (target price ₹180), Delhivery at 22% (target price ₹570), Lenskart Solutions at 5% (target price ₹625), UNO Minda at 12% (target price ₹1,383), Tata Communications at 26% (target price ₹2,200), and Phoenix Mills at 11% (target price ₹2,100). As reported by The Financial Express, Delhivery has delivered the strongest performance among the Rising Stars since inclusion, gaining 95% with relative performance of 81% against MXIN. Lemon Tree Hotels has the highest implied upside across the entire 18-stock Super 6s basket, with Macquarie increasingly confident in the margin recovery trajectory and raising earnings estimates.
According to The Financial Express, Macquarie's performance table shows Divi's Laboratories has gained 31% since inclusion, followed by Titan at 30% and TVS Motors at 25%. Among the Hitters, Dixon Technologies has gained 18% since inclusion, while Bharat Electronics and Cipla have both declined 1%. The Rising Stars have delivered mixed returns, with Delhivery surging 95% and Lenskart Solutions gaining 16%. Shree Cement was down 8% since its inclusion and had underperformed the MXIN index by 9%, prompting Macquarie to cut losses on the stock.
