Domestic equity markets ended the week on a lower note as crude oil prices topped $100 per barrel, with the Nifty 50 closing 1.75% lower and the BSE Sensex ending 1.95% lower. Despite the market decline, leading brokerages including Goldman Sachs, Jefferies, Nomura, Nuvama Institutional Equities, Emkay Global, and Motilal Oswal shared strong buy recommendations on 10 key stocks across sectors. According to reports from The Financial Express, these recommendations point toward strong business fundamentals, quarterly performance, and sector-specific growth drivers.
Nomura has maintained its Buy rating on IndusInd Bank and raised the target price to ₹1,145 from ₹1,000, implying an upside of 7% from the current market price. The brokerage upgraded earnings estimates to 9% for FY27 and 4% for FY28, stating "Cost discipline now, margin recovery later." Nomura raised its FY27 loan and deposit growth estimates to 15% and 13% respectively, lifting FY27 and FY28 earnings by 9% and 4% respectively. Meanwhile, Nuvama Institutional Equities maintained its 'Buy' rating on IndiGo and raised the price target to ₹5,583 from ₹5,335, implying an upside of 11% despite the company missing estimates.
Jefferies retained its 'Buy' rating on Eternal (Zomato) and raised its target price to ₹415 from ₹400, implying an upside of about 45%. The brokerage noted that Eternal's management described aggressive discount-led competition as a "systemic trap," arguing that companies eventually reach a point where they have to choose between growth and profitability. Nomura maintained its 'Buy' rating on Infosys while slightly reducing its target price to ₹1,290 from ₹1,300, highlighting that Infosys has maintained its 20-22% EBIT margin guidance for FY27 despite revenue growth falling short of expectations. Nomura also maintained a 'Buy' rating on Nestle India and raised the price target to ₹1,675 from ₹1,500 following robust Q1FY27 earnings.
Motilal Oswal reiterated its 'Buy' rating on Sunteck Realty with a revised target price of ₹490, indicating a potential upside of nearly 69%. The company's pre-sales increased 20% year-on-year during the June quarter, largely driven by premium and luxury housing demand. Emkay Global initiated coverage on SBI Funds Management with a 'Buy' rating and price target of ₹750, implying 31% upside from the IPO allotment price of ₹574. The brokerage noted that SBI's brand, distribution, and under-penetration among SBI Bank customers present SBI AMC with a runway for higher growth over a longer period.
The recommendations span across multiple sectors including AMC, FMCG, aviation, hospitality, IT, and others, demonstrating brokerage confidence in diverse market opportunities. Goldman Sachs initiated coverage on Sansera Engineering with a 'Buy' rating and 12-month target price of ₹4,130, implying 28% upside, believing the company is entering a "harvesting phase" after nearly a decade of investments. Jefferies retained its 'Buy' rating on Reliance Industries and raised its target price to ₹1,705 from ₹1,675, implying 28% upside, while noting that upstream operations exceeded estimates during the June quarter. Latest brokerage calls include fresh recommendations on HUL, L&T, Swiggy, Varun Beverages, Cipla, DMart, Pine Labs, Nuvama, Phoenix Mills, Cholamandalam Finance, Indus Towers, and City Union Bank, with constructive views maintained on the auto sector.
