Indian equity markets have been swinging between highs and lows on global headwinds.
Domestic as well as international brokerage houses came up with their research notes on stocks amidst this highly uncertain geopolitical scenario.
These brokers see as much as 58% upside in one of the stocks. Read to know more-
JM Financial on Eternal
Eternal’s Q4FY26 results undershot the brokerage’s expectation mainly on account of a miss on Blinkit’s NOV growth (8% growth QoQ versus JM Financial’s estimates of 11%).
“Even so, management commentary on meaningful improvement in QoQ trends in the business in Q1 FY27, along with medium-term guidance of over 60% NOV CAGR over the next three years, is comforting,” said JM Financial.
The medium-term goalpost of $1 billion in adjusted EBITDA (consolidated) by FY29, which the analysts at JM Financial find quite exciting—a number that was broadly built in estimates, but barely appreciated by investors till now due to lack of management guidance.
Overall, JM Financial remained constructive on Eternal as it maintained its ‘Buy’ rating and kept the target price unchanged at Rs 400. The price target looks at an upside of 58% from the current market price.
JM Financial on Lodha Developers
In the real estate sector space, JM Financial has given a ‘Buy’ rating to Lodha Developers. The brokerage sees an upside potential of nearly 41%, with a target price of Rs 1,240.
According to the brokerage report, the company has delivered steady sales growth. “Lodha reported pre-sales of Rs 5,900 crore, a 23% rise compared to last year and a 5% increase from the previous quarter, in line with JM Financial’s expectations.”
For FY26, pre-sales stood at Rs 20,500 crore. It is up 16% compared to the previous year. The report highlighted that key markets like South Central Mumbai and Bengaluru have been major contributors to this growth.
Morgan Stanley on Maruti Suzuki
Morgan Stanley remains bullish on Maruti Suzuki, assigning an ‘Overweight’ rating and a target price of Rs 17,895. This implies a potential upside of up to 39%.
As per the brokerage house report, the company is likely to outperform the broader industry in terms of growth.
The report noted, “Maruti Suzuki guided for 10% domestic volume growth in FY27, ahead of our estimate of 8%, implying outperformance versus the industry.”
Goldman Sachs on One97 Communications
The global brokerage house Goldman Sachs has rated ‘Buy’ to Paytm, with a target price of Rs 1,400. This translates to a potential upside of about 22% from current levels.
According to the Goldman Sachs report, while recent developments linked to Paytm Payments Bank Limited (PPBL) have raised questions, the core business of Paytm continues to show steady traction, especially in payments and merchant growth.
A major trigger behind the recent spotlight on Paytm is the action taken by the Reserve Bank of India on PPBL. According to the brokerage report, “On 24 April, the RBI (Reserve Bank of India) cancelled PPBL’s (Paytm Payments Bank) license.”
Nuvama on Sterling and Wilson Renewable Energy
Nuvama has given a ‘Buy’ rating to Sterling and Wilson Renewable Energy. With improving margins, a strong order pipeline, and better balance sheet visibility, this stock is now drawing attention for its potential upside.
Nuvama has set a target price of Rs 300 on the renewable energy sector stock. This implies nearly 41% upside from current levels.
The brokerage in its report noted that the company has guided for steady growth ahead. “Sterling and Wilson Renewable guided for 15% growth in revenue/order book for FY27,” noted Nuvama in its report.
