Motilal Oswal has identified companies that are expected to provide significant returns based on current market data and quarterly performances.
The brokerage firm maintains a positive stance on these names due to improving demand in the domestic market and strong operational results. They see as much as 42% upside potential in select stocks.
Motilal Oswal on Indigo Paints: ‘Buy’
Motilal Oswal set a target price of Rs 1,400 for Indigo Paints, which indicates an upside of 42% from current levels.
The brokerage firm explained that demand has seen consistent improvement since November 2025, with double-digit value growth recorded in recent months.
Motilal Oswal pointed out that raw material prices have finally reached levels seen before the pandemic, which helped the company increase its discounts to customers.
They believe the company is well-positioned due to its focus on non-metro towns and its expanding distribution network. The research team highlights that the synergy with Apple Chemie and consistent capacity expansion are key drivers for this positive outlook. They also observe that the company’s valuation multiples are favourable compared to its peers in the paint industry.
The brokerage firm expects the company to maintain its growth outperformance as it continues to scale its operations across India. The analysis suggests that the current market conditions provide a good entry point for those looking at long-term gains in the decorative paints sector.
Motilal Oswal on IIFL Finance: ‘Buy’
The brokerage firm has a target price of Rs 720 for IIFL Finance representing a recalculated upside of 41%. Motilal Oswal states that the company is looking to diversify its sources of funds through new bond issues to reduce its reliance on bank borrowings.
The analysis suggests that while new regulatory norms might cause a short-term hit to volumes, the long-term outlook for the company remains positive.
They do not expect new collateral rules to cause a major impact on the portfolio because the company has maintained strict lending standards.
The brokerage house expresses a constructive view on the broader capital market growth in India and expects the company to be a major beneficiary.
Motilal Oswal points out that the company’s diversified business model allows it to navigate through different market cycles with relative ease. They believe the focus on retail lending and gold loans will continue to provide stable income streams for the firm. The analysis indicates that the company’s digital initiatives are helping it to acquire customers at a lower cost while improving the overall user experience.
Motilal Oswal on Poonawalla Fincorp: ‘Buy’
Motilal Oswal provides a target price of Rs 610 on Poonawalla Fincorp, which implies 32% upside from current levels. The firm notes that the company continues to show strong potential within the non-banking financial sector by maintaining healthy margins.
Their analysis shows that the company is managing risks effectively in a changing environment while focusing on high-quality assets.
Motilal Oswal assessment suggests that the company is well-prepared to handle any volatility in the financial markets. They note that the management has been proactive in adjusting their strategies to suit the current liquidity and interest rate conditions.
The brokerage firm highlights that the company’s focus on technology and automated processes is a significant advantage over its traditional competitors. They believe that the lean operating model will lead to better return on equity for shareholders over the long term. Motilal Oswal remains confident in the company’s ability to execute its business plan and reach its stated financial targets.
Motilal Oswal on Galaxy Surfactants: ‘Buy’
The firm has set a target price of Rs 2,500 for this chemical company, implying upside of 31%. Motilal Oswal attributes Galaxy Surfactants‘ strong Q3 performance better product mix and successful efforts to optimise manufacturing and logistics costs. The brokerage firm mentions that while total volumes remained flat due to regional disruptions, there was strong growth in Latin America and Asia-Pacific.
The analysis notes that recent trade agreements and tariff reductions in North America will specifically help the specialty chemical business of the company. They believe the company’s focus on research and development will drive long-term growth by introducing more environmentally friendly products.
Motilal Oswal points out that the company has a strong relationship with leading global consumer goods firms, which provides it with a steady flow of orders. They believe that the shift towards premium personal care products in emerging markets will act as a major tailwind for the company.
The brokerage firm expects the company to continue its track record of efficient capital allocation.
Motilal Oswal on Cello World: ‘Buy’
Motilal Oswal gives a target price of Rs 600, which implies upside of 26% for Cello World.
The company expects revenue growth to pick up in the second half of the 2027 fiscal year as a new glassware plant reaches higher production levels.
The analysis by Motilal Oswal indicates that margins were affected by higher employee costs and other administrative expenses during the transition period.
They believe the situation will stabilize as the steelware business recovers and the new production facilities become fully operational. The brokerage firm mentions that the company is focusing on its established brands to drive future sales across different categories.
Motilal Oswal believes that the company’s wide distribution network is a key strength that allows it to reach consumers in both urban and rural areas. The brokerage firm remains positive about the company’s ability to regain its growth momentum in the coming quarters.
Motilal Oswal on L&T Finance: ‘Buy’
The brokerage firm provides a target price of Rs 370 for Larsen & Toubro Finance showing a recalculated upside of 26%.
Motilal Oswal notes that the company is part of a group of finance firms that are well-positioned for growth in the current economic climate.
Motilal Oswal believes the company’s strong brand and wide reach across India give it a distinct advantage in the competitive lending market.
The brokerage firm expects the company to benefit from the increasing formalization of the Indian economy and the rising demand for credit. They point out that the company has a robust plan to scale its operations in a sustainable and profitable manner.
Motilal Oswal notes that the company’s transition into a more retail-focused entity is yielding positive results in terms of margins. They believe that the focus on micro-loans and tractor financing will continue to drive growth in the rural and semi-urban segments.
The analysis indicates that the company is leveraging its parentage to access low-cost funds, which is a major competitive advantage.
Motilal Oswal on IRB Infrastructure: ‘Buy’
Motilal Oswal sets a target price of Rs 52 for this stock, implying 24% upside potential for IRB Infrastructure Developers. They mention that the performance was also bolstered by a healthy order book for operations and maintenance services.
The brokerage firm points out that the company’s order book stands at Rs 37,300 crore, providing good visibility for future revenue.
The company is strategically focusing on building stable income streams that will last for the next 10 to 12 years through its various road projects.
The analysis by Motilal Oswal suggests that the government’s continued focus on infrastructure development will create many new opportunities for the company. They believe the company is well-placed to capture these due to its strong financial standing and execution capabilities.
Motilal Oswal expects the company’s revenue to grow at a steady rate over the next few years as more projects reach the tolling stage. They believe that the company’s integrated model of construction and operation helps in maintaining high margins.
Conclusion
Motilal Oswal has identified these stocks with potential for significant growth in the coming months based on its rigorous internal research.
Their analysis points to improving demand in the domestic market and strong operational performances as the primary reasons for these positive ratings. Investors are ,however, encouraged to consider the various aspects of the companies and their growth dynamics while making their investment decisions.
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.