The domestic equity markets surged 1.4% for the week. The Nifty closed the week above 25,900, while the Sensex surged more than 1,100 points in the past five trading sessions.
During the week, the companies posted a mix of strong profits and sharp misses. The top research houses, including Nomura, Nuvama, Jefferies, and Motilal Oswal, shared their latest recommendations, and we picked a list of 10 stocks across the sectors.
In the last week, FinancialExpress.com monitored various important brokerage reports and stock movements. Here’s a brief overview of the top ideas. By utilising data from the BSE and NSE top gainers, the stocks were selected based on their market capitalisation to emphasise those that had the most significant influence during the week.
Motilal Oswal on Hindustan Aeronautics
Hindustan Aeronautics’ orderbook remains strong, providing good visibility on future execution. Motilal Oswal said that Tejas aircraft deliveries and execution of the manufacturing order book will be key drivers for the stock going forward. The brokerage house maintained its target price of Rs 1,800 and ‘Buy’ rating on Hindustan Aeronautics. The price target implies an upside of 22% from the current market price. During Q2 FY26, the company received a follow-on order of 97 Tejas Mk1A worth Rs 62,400 crore and signed a contract with GE for engine supplies for this project.
Jefferies and Motilal Oswal on Asian Paints
Both brokerage houses believe that the worst is over for the stock and is ready for a comeback. Jefferies increased the target price on Asian Paints significantly to Rs 3,300 from Rs 2,900, while maintaining its ‘Buy’ rating. The new target price implies an upside of 24% from current levels. The upgrade came post the quarterly results, and in its report, Jefferies calls Asian Paints the ‘King is back’.
Motilal Oswal has a ‘Neutral’ rating on the stock, but has raised the target price of Rs 3,000 per share. This indicates room for about 8% from current levels.
Jefferies on Honasa Consumer
Jefferies called the quarterly earnings a clear margin surprise, especially since Honasa Consumer simultaneously expanded gross margin and lowered ad intensity, something the market had been waiting to see.
The international broker retained its ‘Buy’ rating and assigned a target price of Rs 450 per share. The brokerage said the second quarter confirmed that the company has moved past its consolidation stretch, with a margin surprise and a stabilising growth profile supporting as much as 58% upside from current levels.
Jefferies on Bajaj Finance
Bajaj Finance’s AUM grew by 24% YoY in Q2 FY26, and the festive season went well. However, the company’s management still slashed growth guidance by 100 basis points to 22-23% due to weaker trends in SME & housing. Bajaj Finance’s credit costs rose this quarter, but with improving trends, it can moderate. Despite that, Jefferies kept the stock among its top picks and raised the target price on Bajaj Finance to Rs 1,270 from Rs 1,100, implying an upside of 17% from current levels, while retaining the ‘Buy’ call.
Motilal Oswal on KEC International
Motilal Oswal Financial Services upgraded KEC International to ‘Buy’ from ‘Neutral’ with a revised target price of Rs 920, noting that the valuation now looks attractive after the recent price correction. The brokerage expects revenue, EBITDA and net profit to grow at 17, 23 and 33 per cent compounded annual rates respectively between FY25 and FY28, driven by stronger order inflows and margin recovery. At current levels, KEC International trades at 19.1 times FY27 and 15.1 times FY28 projected earnings.
Motilal Oswal on JSW Infrastructure
The brokerage firm Motilal Oswal has given a ‘Buy’ rating to JSW Infrastructure. It has set a target price of Rs 360, implying a potential upside of 29% from the current market price. According to the brokerage report, this outlook is factored due to the company’s strong expansion plans, diversified operations, and growing presence across India’s ports and logistics sector.
Motilal Oswal on Petronet LNG
Motilal Oswal has given a ‘Buy’ rating on Petronet LNG with a target price of Rs 390. This translates to an upside of nearly 40% from current levels. According to the brokerage report, “At 8.9x FY27E P/E and a around 4.3% dividend yield, we believe valuations are inexpensive.” However, the current market price reflects an unrealistic assumption of a 20% decline in tariffs at both Dahej and Kochi terminals by FY28, with no growth thereafter.
Nuvama on Prince Pipes
Nuvama Wealth Management slashed the target price on Prince Pipes to Rs 239 from Rs 251, implying a downside of 24% from the current levels. The brokerage has maintained its ‘Reduce’ on the stock. The company’s management guided for high single-digit volume growth in FY26. “Given sectoral pressure and weak volumes, we are cutting FY26 EPS by 29% and FY27 EPS by 13%,” said Nuvama.
Motilal Oswal on Britannia Industries
Motilal Oswal upgraded Britannia Industries to a ‘Buy’ rating with a target price of Rs 7,150. This indicates an upside of around 16%. The brokerage house said growth visibility is improving for the biscuits major, driven by easing input costs, the GST rate revision in packaged foods, and renewed consumption tailwinds. Further, Motilal Oswal highlighted that the “company remains focused on driving healthy, volume-led growth through region- and consumer-centric products.”
Nomura on FSN E-Commerce Ventures (Nykaa)
Nomura has raised FSN E-Commerce Ventures (Nykaa)’s revenue forecasts by up to 7% for FY26–FY28, post the quarterly earnings of Q2 FY26. The brokerage lifted its target price to Rs 262 from Rs 223, implying an upside of about 6.5% from the current levels. However, it retained a ‘Neutral’ rating, saying Nykaa’s valuation at 4.4 times estimated FY27 enterprise value to sales already looks fair. Nomura called Nykaa’s performance steady and broadly in line with expectations. Revenue of Rs 2,345 crore matched its forecast, while margins improved to 6.8 per cent from 6 per cent a year earlier.
