Indian equity markets ended a quiet week with mixed stock recommendations from top brokerages including Morgan Stanley, Nomura, and Jefferies, highlighting bullish targets on key stocks amid falling crude oil prices. According to reports from The Financial Express, the domestic equity markets ended the holiday-shortened week on a quiet note after the rout in chip and AI stocks globally. However, falling crude oil prices supported sentiment across Indian capital markets. Several top research houses, including Morgan Stanley, Nomura, Jefferies, Antique, Citi, Kotak Securities, and Motilal Oswal, shared their latest recommendations for key stocks amid a mixed market.
Morgan Stanley has named Adani Power as "the cash compounding machine" and raised its price target to ₹275 from ₹173, while maintaining an 'Overweight' rating. The new price target implies an upside of 19% from the closing price on June 23. Nomura has maintained its Buy rating on CG Power and raised its price target to ₹1,100 from ₹1,050, with the new target implying 20% upside. Antique initiated coverage on Apollo Hospitals Enterprise with a 'Buy' rating and target price of ₹9,790, implying 14% upside. Citi initiated coverage on Meesho with a 'Buy' rating and target price of ₹210 per share, implying about 21% upside.
The realty sector has emerged as a standout performer, with Nifty Realty surging 22% in the last three months and gaining 4.5% over the last month. According to ET Now, this outperformance comes at a time when broader markets are struggling to deliver good returns. Oberoi Realty has received a 'BUY' rating with a target price of ₹2,500, implying approximately 42.5% upside from its current market price of ₹1,754.50. Lodha Developers carries an 'Equal Weight' rating with a target of ₹1,130, suggesting about 20% upside. Elara Capital highlighted that Oberoi Realty's maiden Gurugram project, 360 North, is expected to generate sales exceeding ₹20 billion, with launch pricing of ₹33,500 per square foot representing a premium of up to 40% over recently launched projects.
Kotak Securities maintained a 'Buy' rating on Aadhar Housing Finance with a fair value of ₹630, implying 27% upside. The brokerage expects AUM growth of about 20% in FY27 after 20% in FY26 and 21% in FY25. Antique reiterated its 'Buy' call on Artemis Medicare Services with a target price of ₹340, implying 29% upside. Antique expects revenue, EBITDA, and PAT to grow at a CAGR of 27%, 34% and 36% respectively over FY26-28. Jefferies maintained a Buy rating on HDFC AMC with a target price of ₹3,090, implying 18% upside.
The recommendations point toward strong business fundamentals, sector-specific growth drivers, and a change in business model. According to reports from The Financial Express, while broader market sentiment remained weak, leading brokerages continue to identify opportunities across sectors such as e-commerce, power, energy, AMC, healthcare, and others. Jefferies warns that rising equity supply may limit market gains, estimating a supply pipeline of $35-45 billion for remaining July-December 2026. The brokerage recommends buying cement, Bajaj Finserv, OMCs and TVS, with Ultratech preferred as cost headwinds ease despite near-term earnings cuts. Jefferies maintains that select ideas in power and other hard assets should continue to outperform, while Goldman Sachs remains cautious on India IT with only TCS rated buy due to relatively better valuation comfort.
