The domestic equity markets took a beating this week, as conflict across West Asia escalated further, raising energy prices. The Nifty 50 and Sensex saw significant losses as a result.
However, several top research houses, including Motilal Oswal, Nomura, Jefferies, and JM Financial, shared their latest recommendations for key stocks amid a falling market, and we shortlisted 10 stocks across sectors.
Motilal Oswal on Trent
Motilal Oswal reiterated ‘Buy’ on Trent, with a revised target price of Rs 4,350, implying a 29% upside. It has, however, trimmed earnings estimates but continues to back the stock on the strength of its brands and long runway, while cautioning that near-term earnings pressure may persist.
The brokerage says growth has slowed in recent quarters due to weak like-for-like sales, rising competition in key urban markets and the company’s push into smaller towns that take longer to mature. Even so, they believe cost controls and supply chain improvements are supporting Trent’s margins.
Nomura on Infosys
The brokerage house, Nomura, maintained Infosys as its top large-cap Indian IT services pick after Infosys acquired two new firms. The brokerage retained its ‘Buy’ rating on Infosys and a target price of Rs 1,810, implying an upside 42% from the current market price. The firm values the stock at an EPS of 23x for the first half of FY28, citing potential upside risks from stronger-than-expected growth or guidance upgrades.
In a recent, Infosys announced the acquisitions of two unlisted companies, Optimum Healthcare and Stratus, for a total investment of $560 million. The deals are expected to close by June 2026, pending regulatory approvals.
JM Financial on Balkrishna Industries
JM Financial has initiated coverage on Balkrishna Industries with a target price of Rs 2,540, implying an upside of around 25%. The brokerage builds its case around the company’s strong grip over the global off-highway tyre segment, where it operates in a niche market estimated at $15–18 billion.
Balkrishna Industries has carved out a position through a wide product range and focus on replacement demand, which typically carries better margins. According to JM Financial, this positioning allows the company to maintain pricing discipline even against larger global peers.
Motilal Oswal on Sagility India
Motilal Oswal has given a ‘Buy’ rating to Sagility India, with a target price of Rs 58, an upside potential of 45%.
As per the brokerage report, “We expect Sagility India to deliver a low- to mid-teens growth, aided by increased volume of work from top clients, new logo additions, cross-selling, and synergy from Broadpath will drive its revenue/EBIT/PAT CAGR of 20%/28%/23% over FY25-28.”
The brokerage also added that technology will support rather than replace human roles. “AI can act as an augmentation layer and can increase efficiency in the decision-making process,” the report added.
Motilal Oswal on Kalpataru Projects
Motilal Oswal has a ‘Buy’ rating on Kalpataru Projects, with a target price of Rs 1,500, implying around 35% upside. According to the brokerage report, the company has strong visibility on future growth due to its robust order pipeline.
Motilal Oswal further noted in its report, “Kalpataru Projects International highlighted a strong addressable market for both its T&D and B&F segments over the next 2-3 years, providing clear visibility for order inflows as well as execution.”
The brokerage also pointed out that geopolitical risks have a limited impact on the company.
Nomura on Sagility India
Nomura initiated coverage on Sagility India with a ‘Buy’ rating. The stock got listed in November 2024. In the last 6 months, it has fallen 9%, and in the past 1 year, this stock, exclusively focused on the US healthcare market, has declined nearly 8%.
But Nomura believes Sagility India can rally almost 47% from current levels, and they have set a target of Rs 55 per share for the stock. The company generates almost 90% of its revenue from US health insurance payers, with the remaining 10% coming from healthcare providers like hospitals and diagnostic companies.
Jefferies on JSW Infra
Jefferies has a ‘Buy’ rating on JSW Infrastructure, with a target price of Rs 360, implying an upside of 48%. The brokerage’s positive stance rests on the company’s cargo mix, which is heavily skewed towards bulk and liquid segments that are less sensitive to global trade disruptions.
JSW Infra derives nearly all of its volumes from bulk and liquid cargo, with minimal exposure to container traffic. A large portion of its business also comes from group companies, which cushions it from external shocks tied to global demand cycles.
Jefferies on Container Corporation of India
Jefferies maintains a ‘Buy’ rating on Container Corporation of India, also known as Concor, with a target price of Rs 640, suggesting an upside of 49%. However, the brokerage acknowledges that container-linked businesses are the most exposed to global headwinds. Jefferies estimates that a 10% drop in container volumes could reduce Concor’s earnings before interest, taxes, depreciation and amortisation by around 8%.
Container volumes are closely tied to global economic activity, and any slowdown in trade flows directly affects throughput. The report notes that Indian Railways’ container volumes have already shown weakness in March, which could be an early indicator of broader pressure ahead.
Motilal Oswal on ICICI Bank
Motilal Oswal has maintained a ‘Buy’ rating on ICICI Bank, with a target price of Rs 1,750. This implies over 40% upside from current levels.
The brokerage believes that ICICI Bank is well-positioned to deliver steady growth, supported by loan growth, steady margins and asset quality. “Growth is becoming increasingly broad-based, led by business banking and improving corporate demand, while the bank continues to focus on strengthening its liability franchise,” Motilal Oswal noted.
Jefferies on LG Electronics
Jefferies has given a ‘Buy’ rating on LG Electronics and set a target price of Rs 1,910. This implies a potential upside of around 29% from current levels.
Jefferies, in its report, notes that the initial signs from the ongoing summer season are encouraging. Demand for cooling products is picking up as temperatures rise across several parts of the country.
One of the key factors supporting growth is the company’s ability to pass on rising costs. According to the brokerage report, LG Electronics has already increased prices of its 3-star and 5-star air conditioners by 7-9% in the March quarter of FY26.
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.
