The domestic equity markets on the last day of the week rebounded as crude oil prices slid past $90 a barrel. The Nifty 50 and Sensex surged 2% and 2.46%, respectively, for the week.
Several top research houses, including Macquarie, Nomura, Jefferies, JM Financial, Axis Securities, Motilal Oswal, and HSBC, shared their latest recommendations for key stocks amid a falling market, and we shortlisted 10 stocks across sectors.
Macquarie on Power Grid Corp
Macquarie has a ‘Buy’ rating on Power Grid Corporation of India. It has a target price of Rs 400. This indicates an upside potential of nearly 40% on Power Grid Corp.
The brokerage house has outlined its view on India’s energy landscape. As per the brokerage house, the sector is seeing a broad transformation across power generation, transmission and distribution. Macquarie noted that this is largely driven by regulatory changes, infrastructure investments and changing energy consumption patterns.
JM Financial on Aegis Logistics
JM Financial has a ‘Buy’ rating on Aegis Logistics and raised the target price to Rs 1,200 from Rs 935 due to exceptional strength in its distribution segment. The new price target looks at an upside of 34% from Thursday’s closing.
The distribution segment saw volume growth of 72% YoY in Q4FY26, with profitability coming in at Rs 15,000 per tonne, significantly exceeding the usual run rate. JM Financial also raised its consolidated EBITDA estimates for Aegis Logistics by 36% for FY27 and 15% for FY28.
Nomura on Mahanagar Gas
Nomura prefers Mahanagar Gas with a ‘Buy’ rating and a potential upside of 35%. The brokerage believes recent gas price hikes have significantly reduced risks to profitability for the sector, which is likely to benefit Mahanagar Gas.
According to the report, “Q1 could be the bottom in terms of CGD margins.” Nomura expects demand growth to remain healthy due to multiple factors. Industrial consumers continue to find natural gas attractive as alternative fuels become more expensive and less available.
Motilal Oswal on JSW Infrastructure
Motilal Oswal has retained a ‘Buy’ rating on JSW Infrastructure, assigning a target price of Rs 360. This implies an upside potential of approximately 34% for JSW Infrastructure from current levels.
As per the Motilal Oswal report, India’s long-term focus on logistics efficiency, port expansion and multimodal transport connectivity creates a favourable environment for companies operating in this logistics and ports space.
Jefferies on JSW Energy
Jefferies retained its ‘Buy’ rating on JSW Energy and raised its target price to Rs 745 from Rs 675, implying an upside of 30%.
The brokerage said JSW Energy’s recent qualified institutional placement has further strengthened its balance sheet and reduced leverage expectations. JSW Energy raised Rs 4,000 crore through a qualified institutional placement in May 2026.
Nomura on Bharti Airtel
Nomura has a ‘Buy’ rating on Bharti Airtel with a target price of Rs 2,220 per share. This implies a 25% upside for the share price from current levels.
According to its FY25 annual report, against the original demand of Rs 8,410 crore, Bharti Airtel has already provided for a portion of the principal (Rs 1,810 crore) plus accumulated interest on it (Rs 9,950 crore), for a total provision of roughly Rs 11,760 crore on consolidated accounts.
Axis Securities on Maruti Suzuki
Axis Securities retained its ‘Buy’ recommendation on Maruti Suzuki India with a target price of Rs 14,620. The target price implies upside of 14% from current levels. The brokerage said domestic demand remained healthy in Q4FY26, helping the company achieve record total sales of 24,22,713 units.
Maruti Suzuki’s domestic sales rose to 19,74,939 units from 19,00,604 units year-on-year, while exports increased to 4,47,774 units from 3,32,585 units during the same period.
Motilal Oswal on Gabriel India
Motilal Oswal has given a ‘Buy’ rating to Gabriel India, a company traditionally known for its suspension systems business. Motilal Oswal has assigned a target price of Rs 1,266, implying an upside potential of around 29% from current levels.
As per the Motilal Oswal report, Gabriel India is undergoing a significant business transformation. For several decades, the company largely operated as a suspension component manufacturer. However, the company is now expanding into multiple mobility-related businesses.
Jefferies on Adani Green Energy
Jefferies retained its ‘Buy’ rating on Adani Green Energy and raised its target price to Rs 1,730 from Rs 1,435, implying an upside of 16%.
“Adani Green Energy’s management reiterated confidence in its journey to raise capacity 2.6x, from 19.3 GW in FY26 to 50 GW by 2030, including 5 GW Pumped Storage Projects,” Jefferies said.
HSBC on Godrej Industries
HSBC retained its ‘Buy’ rating on Godrej Properties with a target price of Rs 2,900, implying an upside of 67.6%. The brokerage said it prefers Godrej Properties for its diversification and decentralised business model.
The brokerage said Godrej Properties delivered pre-sales of Rs 342 billion in FY26, up 16% year-on-year and the highest reported by any listed real estate developer in India. Management guided for pre-sales of Rs 390 billion in FY27, representing another 14% increase.
Conclusion
The recommendations point toward strong business fundamentals, sector-specific growth drivers, and improving earnings visibility. While broader market sentiment remained weak, leading brokerages continue to identify opportunities across sectors such as realty, power, energy, automobile, infra, and others.
