Domestic equity markets recovered rapidly after the US and Iran announced a peace deal, which led to a significant slip in prices globally. The Nifty 50 and Sensex surged 0.28% and 0.24% respectively for the week. According to reports from The Financial Express, several top research houses including Nomura, Jefferies, JM Financial, Ambit Capital, Kotak Securities, Motilal Oswal, and Nuvama Institutional Equities shared their latest recommendations for key stocks amid a falling market, with brokerages projecting returns ranging from 18% to 43% across various sectors. Latest developments show CLSA and Morgan Stanley have initiated coverage on Vedanta Aluminium and Adani Enterprises respectively, with their price targets implying gains of 16% for Vedanta and 18.5% for Adani Enterprises.
Kotak Institutional Equities has initiated a 'Buy' rating on Vedanta Aluminium Metal with a price target of ₹600, implying up to 30% upside from current market price. As reported by The Financial Express, the Vedanta demerger is now completed, and among the four businesses that started trading independently this week, Vedanta Aluminium has emerged as the stock attracting the most attention from brokerages. The company could benefit from rising aluminium demand, improving profitability, and lower debt levels. CLSA has initiated coverage on Vedanta Aluminium with a 16% gain target, citing a strong aluminium upcycle underpinned by resilient demand from electrification and substitution-led end markets, and constrained supply growth. The brokerage notes that the discount in valuation versus peers is unwarranted because of its improving cost profile and strong free cash flow yield.
Motilal Oswal Financial Services has maintained a 'Buy' rating on Coforge with a target price of ₹1,900, implying 30% upside. According to The Financial Express, confidence in Coforge strengthened following its analyst day, where management outlined a plan to double revenue to around $5 billion by FY30. Nomura has maintained its 'Buy' rating on HCL Technology with a target price of ₹1,600, implying nearly 43% upside potential. The brokerage stated that the investment in an AI company could strengthen HCLTech's positioning in emerging AI opportunities.
Nuvama has reiterated its 'Buy' rating on Hindustan Unilever with a target price of ₹3,090, implying around 40% upside potential. As reported by The Financial Express, growth trends at HUL have improved steadily over the past few quarters, supported by premium product launches, rapid expansion in digital channels, and growing contribution of direct-to-consumer brands. JM Financial has retained its 'Buy' rating on Suzlon Energy with a target price of ₹65, implying approximately 18% upside potential.
Jefferies maintained its 'Buy' rating on Bharti Airtel with a price target of ₹2,350, implying 27% upside from current levels. According to The Financial Express, Bharti Airtel was the biggest contributor to industry growth during FY26, accounting for around 45% of incremental sector revenues. Ambit Capital has initiated coverage on Schneider Electric Infrastructure with a 'Buy' rating and target price of ₹1,400, implying 19% upside. The brokerage expects the company to deliver revenue growth of 24% CAGR between FY26 and FY29 driven by strong momentum in data centres and industrial electrification.
