The brokerage house Nuvama, in its latest report, has given ‘Buy’ rating to three companies from diverse sectors. This includes TVS Motor, SRF, and KFin Technologies expecting strong growth in the coming quarters.
The brokerage sees as much as 27% upside potential in these stocks from their current levels, citing strong earnings visibility, margin expansion, and sectoral tailwinds.
Let’s take a look at what is driving Nuvama’s optimism on these stocks –
Nuvama on TVS Motor
Nuvama has given a ‘Buy’ rating on TVS Motor Company with a target price of Rs 4,100. This implies an upside potential of around 15% from the current market price.
According to the brokerage report, TVS is having a strong growth momentum across both domestic and export markets. This is backed by new product launches and margin expansion opportunities.
“Growth momentum is likely to be in double digits across both domestic and export markets. TVS Motor has been gaining share across markets and we reckon its domestic share shall rise from 18% in FY25 to 19% by FY28E,” the report said.
The brokerage expects revenue and earnings growth of 15% and 27% annually over FY25–FY28 on a compounded basis, aided by better scale, product mix, and benefits under the PLI scheme.
“We see FY28 share at 19% on the back of TVS Motor’s strong presence in ICE scooters and EVs,” the report added. The company is also gearing up for six premium launches under the Norton brand from FY26 onwards, while export volumes are expected to rise sharply.
Nuvama on SRF
Nuvama remains bullish on SRF, assigning a ‘Buy’ rating with a target price of Rs 3,841. This translates to an upside of 27% from the current market price.
“A few hiccups in the near term due to persistent global headwinds in agrochemicals may defer demand, but would not dial down the China +1 theme. Tailwinds in HFC gases will keep margins buoyant, resonating with our positive stance,” the brokerage noted.
SRF is also benefiting from higher realisations in its HFC segment. “Domestic HFC-32 realisations in China are $8.5/kg (which were $1.5/kg CPLY), more than export realisations-$6.5/kg (which were $2/kg CPLY)-and are expected to sustain due to supply constraints,” the report highlighted.
Nuvama remains upbeat about SRF’s upcoming product launches in the specialty chemicals segment. “We remain upbeat on SRF’s new AI launch journey, and expect Tetraniliprole (new AI) to ramp up Q4FY26 onwards,” it said, adding that high-value molecules like Flufenoxadiazam and Fluindapyr will also support growth.
Nuvama on KFin Technologies
The brokerage has also reaffirmed its confidence in KFin Technologies, giving it a ‘Buy’ rating with a target price of Rs 1,480. This indicates an upside potential of 27% from the current market price.
According to the brokerage report, KFin delivered a strong Q2FY26 performance, led by healthy growth in its mutual fund (MF) segment and improving margins across business lines.
“KFin Technologies delivered strong Q2FY26 revenue growth of 10.3% YoY supported by an impressive performance in the MF segment, up 9.9% YoY,” Nuvama said.
The brokerage believes the company’s focus on operational efficiency and product diversification will sustain margin expansion going forward. “We value KFin Technologies by assigning multiples to September 2027 core segment profits, which yields a target price of Rs 1,480,” Nuvama said.
The report further noted that SIP inflows rose 19% YoY, while equity AUM share stood at 58.5%. “Management highlighted that yield compression for the whole year has played out,” it added, indicating that margins could remain stable.