The domestic equity markets recovered rapidly after the US and Iran announced the peace deal, which led to a significant slip in crude oil prices globally. The Nifty 50 and Sensex surged 0.28% and 0.24%, respectively, for the week.
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, and we shortlisted 10 stocks across sectors.
Kotak on Vedanta Aluminium
Kotak Institutional Equities has initiated a ‘Buy’ rating on Vedanta Aluminium Metal. The Vedanta demerger is now done and dusted. Among the four businesses that started trading independently this week, Vedanta Aluminium has emerged as the stock attracting the most attention from brokerages.
Kotak has set the price target of Rs 600 on the stock, with up to 30% from the current market price. The company could benefit from a combination of rising aluminium demand, improving profitability and lower debt.
Motilal Oswal on TBO Tek
Motilal Oswal reiterated its ‘Buy’ on TBO Tek, with a target price of Rs 1,765, looking at an upside of 30%. According to the brokerage report, the company is expected to benefit from growing travel demand and increasing adoption of its business-to-business travel platform.
The brokerage expects TBO Tek to deliver a Gross Transaction Value (GTV) growth of around 23% annually between FY26 and FY28. It also expects margins to improve over the same period, supporting earnings growth.
Nuvama on HUL
Nuvama has reiterated its ‘Buy’ rating on Hindustan Unilever and maintained a target price of Rs 3,090, implying an upside potential of around 40% from current levels.
According to Nuvama, growth trends at HUL have improved steadily over the past few quarters. This is supported by premium product launches, rapid expansion in digital channels and the growing contribution of its direct-to-consumer (D2C) brands.
Ambit Capital on Schneider Electric Infrastructure
Ambit Capital has initiated coverage on Schneider Electric Infrastructure with a ‘Buy’ rating and a target price of Rs 1,400, implying an upside of 19%. The brokerage believes the company is well placed to benefit from India’s accelerating electrification cycle, rapid growth in data centre investments and increasing export opportunities arising from Schneider Electric’s global manufacturing strategy.
Ambit expects Schneider Electric Infrastructure to deliver revenue growth of 24% CAGR between FY26 and FY29, driven by strong momentum in data centres, industrial electrification, grid modernisation and exports.
Nomura on Tata Steel
Nomura maintained its ‘Buy’ rating on Tata Steel and retained a target price of Rs 240, implying an upside of 22.4%.
The brokerage said Tata Steel India is among the companies most exposed to imported coking coal costs and therefore closely tracks developments in global coal markets. According to Nomura, the ongoing recovery in Chinese coal supply should help prevent a sharp spike in seaborne coal prices, limiting the risk of margin pressure.
Motilal Oswal on Coforge
Motilal Oswal Financial Services has maintained a ‘Buy’ rating on Coforge, with a target price of Rs1,900, implying an upside of 30%.
The brokerage said confidence in Coforge strengthened following its analyst day, where management outlined a plan to double revenue to around $5 billion by FY30. According to Motilal Oswal, growth is expected to come from larger client relationships, increasing wallet share, continued success in large deals and selective acquisitions.
Nuvama on Tata Motors Passenger Vehicles
Nuvama retained its ‘Buy’ on Tata Motors PV, with a target price of Rs 470 a share, implying an upside of 30.2%. The brokerage believes the recovery is likely to be driven by volume normalisation after the cyber disruption, increasing contribution from North America and a stronger product cycle.
According to the Nuvama report, JLR has provided a growth roadmap that supports the brokerage’s positive stance on Tata Motors PV. The company expects revenue to rise to GBP 26 billion in FY27 from GBP 23 billion in FY26. Management has guided for an Earnings Before Interest and Tax (EBIT) margin of around 4% and free cash flow break-even during the year.
Jefferies on Bharti Airtel
Jefferies maintained its ‘Buy’ rating on Bharti Airtel and has a price target of Rs 2,350. This implies 27% upside from current levels. The brokerage said Bharti Airtel was the biggest contributor to industry growth during FY26, accounting for around 45% of incremental sector revenues.
The telecom operator reported 12% revenue growth during the year, while ARPU increased 10%. Bharti Airtel remains Jefferies’ preferred telecom pick after gaining market share across most circles and accounting for nearly 45% of incremental sector revenues in FY26.
JM Financial on Suzlon Energy
JM Financial has retained its ‘Buy’ rating on Suzlon Energy with a target price of Rs 65. This implies an upside potential of approximately 18%.
While JM Financial also remains positive on Suzlon Energy’s long-term prospects, the brokerage has placed greater emphasis on execution. JM Financial highlighted that “AMS (Asset Management Services) is emerging as a key value driver” as the company aims to increase its assets under management from 18 GW currently to more than 70 GW by FY31 across wind, solar and battery storage projects.
Nomura on HCL Technologies
Nomura has maintained its ‘Buy’ rating on HCL Technology after the information technology sector stock announced a strategic investment in one of India’s fastest-growing Artificial Intelligence (AI) companies.
The brokerage house stated that the investment could strengthen HCLTech’s positioning in emerging AI opportunities while also helping it build specialised solutions for clients across industries. It has retained a target price of Rs 1,600 per share on HCLTech. This implies an upside potential of nearly 43%.
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 tech, power, energy, automobile, FMCG, and others.
Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investors must conduct their own independent due diligence and seek advice from a SEBI-registered financial advisor.
