Domestic equity markets ended the week on a cautious note as crude oil prices surged to trade near $90 per barrel. According to reports from The Financial Express, the Nifty 50 closed 0.80% lower while the BSE Sensex ended 0.48% lower during the week. Despite the market decline, several top research houses including Nomura, Jefferies, CLSA, Emkay Global, Nuvama, Antique, Bernstein, JM Financial, and Motilal Oswal shared their latest recommendations for key stocks. The brokerages shortlisted 10 stocks across sectors with projected returns ranging from 10% to 43% upside potential. Latest data shows brokerage consensus stocks drawing positive views from multiple research houses after reporting Q1FY27 results, with potential upside ranging from 9% to 42%.
Nuvama retained its 'Buy' rating on LG Electronics and raised its target price to ₹1,910 from ₹1,820, implying around 21% upside from the current price of ₹1,578. As reported by The Financial Express, consumers are increasingly opting for higher-end products such as French-door and side-by-side refrigerators, larger-capacity washing machines and premium televisions. CLSA has an 'Outperform' rating on Bharat Electronics with a target price of ₹522, implying 27.2% upside, positioning the company among newer players permitted to bid for fifth-generation fighter programmes.
JM Financial has an 'Add' rating on Tata Motors Passenger Vehicle with a target price of ₹375, indicating around 13% upside. According to The Financial Express, the brokerage highlighted strong performance with volumes jumping 46.3% year-on-year and revenue increasing 66.2%. Emkay Global maintains a 'Buy' rating on Siemens with a price target of ₹4,600, implying 14.7% upside, noting Siemens maintained a healthy order backlog of ₹46,670 crore up 9.6% YoY. JP Morgan has an 'Overweight' rating on Tata Motors Commercial Vehicles with a target price of ₹530, implying 16% upside, expecting the domestic commercial vehicle cycle to remain supportive.
Jefferies has a 'Buy' rating on Multi Commodity Exchange of India (MCX) with a target price of ₹3,600, implying 22% upside against the current price of ₹2,950.10. As reported by The Financial Express, the brokerage estimates that participation by foreign portfolio investors in non-cash-settled non-agricultural contracts could add 3% to MCX's profit after tax. JP Morgan has upgraded MCX to 'Overweight' with a target price of ₹3,500, implying 18.6% upside, following the proposal to allow foreign portfolio investors to participate in non-agricultural commodity derivatives. JM Financial has a 'Buy' rating on SBI Life Insurance with a target price of ₹2,400, implying 27.3% upside, supported by strong new business performance and healthy VNB growth.
Jefferies has a 'Buy' rating on Tata Consumer Products with a target price of ₹1,450, implying 37% upside, noting the company's limited dependence on crude-linked inputs compared with peers. According to The Financial Express, Antique has a 'Buy' rating on Hindustan Aeronautics with a target price of ₹6,026, pointing to 22% upside as India modernises its fighter fleet. Motilal Oswal has reiterated its 'Buy' rating on Apollo Hospitals with a target price of ₹10,446, implying 21.5% upside following strong Q1FY27 performance with revenue growing 21% year-on-year and EBITDA increasing 28%. Bernstein has an 'Outperform' rating on Paytm with a raised target price of ₹2,200 from ₹1,500, indicating 36.3% upside following legislative changes removing statutory prohibition on UPI transaction charges.
Axis Securities has identified Nestle India, Asian Paints, Britannia Industries and CCL Products (India) as its top conviction ideas in the FMCG sector following its review of Q1FY27 earnings. According to ET Now, Axis Securities remains constructive on the medium-to-long-term outlook for the FMCG sector, supported by improving consumer purchasing power, low category penetration, increasing rural distribution and continued premiumisation. Nestle India emerged as a standout with 25.4% topline growth and CCL Products reported 13.7% revenue growth. Asian Paints reported 18% year-on-year revenue growth supported by 9% growth in domestic decorative volumes. HUL reported 10% underlying sales growth with 5% volume growth, while Dabur reported 10.6% revenue growth and 5% India consumer volume growth. The shift towards branded and higher-value products should support revenue growth and margin expansion over the longer term.
Latest Q1FY27 results have thrown up fresh brokerage-backed stock calls with multiple research houses giving positive ratings to several stocks. VA Tech Wabag emerges as a standout with Motilal Oswal maintaining a 'Buy' rating and target price of ₹2,529, implying 34% upside, based on the company's order book of around ₹19,400 crore providing revenue visibility for the next three to four years. SBI Life Insurance attracts the highest upside potential with BNP Paribas India rating it as their top insurance pick with a target price of ₹2,670, implying 42% upside following strong performance where VNB increased 12.1% to ₹6,670 crore with margins at 27.5%. Lenskart Solutions also shows strong momentum with Emkay Global raising its target price to ₹725, implying 23.7% upside following strong Q1FY27 revenue growth, while HAL maintains multiple positive ratings with CLSA seeing HAL as one of the strongest beneficiaries of India's military aviation requirements with an estimated opportunity of ₹10.3 lakh crore over the next decade.
