Brokerage consensus stocks: Several stocks across paints, real estate, banking, autos and IT services have emerged as clear consensus picks after the December quarter earnings, with more than one brokerage firm assigning ‘Buy’ or Outperform ratings.
While analysts flag near-term risks such as demand softness, margin pressure or execution challenges, they continue to back these names on earnings visibility, balance sheet strength and medium-term growth drivers.
Here is a detailed look at seven stocks where multiple brokerages are aligned, based strictly on their latest reports and results updates.
Asian Paints
Asian Paints has received ‘Buy’ ratings from Jefferies, Nomura and Nuvama Wealth Management after the December quarter, with all three firms pointing to resilient volumes and margins despite weak demand conditions.
According to Jefferies, “Domestic volume growth moderated, partly due to seasonal factors, but remained respectable at c8% YoY.” Jefferies’ target price of Rs 3,300 implies an upside of 35.75%.
Nomura also retained its ‘Buy’ rating, noting that margins remained at the upper end of management guidance and that demand trends improved towards the end of the quarter and into January. Nomura said margin performance continues to be “strong” and retained its target price of Rs 3,250, which implies an upside of 33.70%.
Nuvama Wealth reiterated its ‘Buy’ rating with a target price of Rs 3,390, implying an upside of 39.45%. In its result update titled “Resilient performance continues”, Nuvama said, “Gross margin reached a nine-quarter high, supported by lower raw material costs and efficiency gains.”
DLF
DLF has drawn ‘Buy’ ratings from Motilal Oswal and Emkay Research, with brokerages focusing on strong cash generation, premium housing demand and balance sheet comfort.
Motilal Oswal said the company is seeing a multi-year upcycle in luxury housing, especially in the Delhi-NCR market. The brokerage highlighted DLF’s pricing power and launch pipeline, noting, “DLF’s consistent sales momentum and strong pricing power in premium segments provide a high degree of revenue visibility.” Motilal Oswal’s target price of Rs 974 implies an upside of 53.39%.
Emkay Research also maintained a ‘Buy’ view, pointing to strong cash flows and rising net cash levels. The brokerage said, “Cash generation was strong, with net cash increasing,” while noting that the rental arm continues to provide stable income. Emkay’s target price of Rs 810 implies an upside of 27.56%.
Mahindra and Mahindra Financial Services
Mahindra & Mahindra Financial Services stands out as one of the strongest consensus names, with ‘Buy’ or Outperform ratings from Motilal Oswal, Citi, CLSA and Nomura.
Motilal Oswal has a target price of Rs 450, implying an upside of 21.22%, supported by stable margins and improving asset quality. Citi and CLSA both have target prices of Rs 425, implying an upside of 14.48%, while CLSA’s rating is Outperform.
Nomura, in its January report, retained a ‘Buy’ rating with a target price of Rs 430, which implies an upside of 15.85%. Nomura said its view is backed by steady earnings visibility and a manageable credit cost outlook.
Axis Bank
Axis Bank has emerged as a high-consensus banking pick, with ‘Buy’ ratings from JM Financial, Nuvama Institutional Equities, PL Capital and Emkay Research.
JM Financial reiterated its ‘Buy’ rating and raised its target price to Rs 1,550, implying an upside of 13.40%. The brokerage said, “Asset quality continued to strengthen with GNPA declining and credit costs moderating.”
Nuvama upgraded Axis Bank to ‘Buy’ with a target price of Rs 1,500, implying an upside of 9.74%. Nuvama said, “Axis reported a 10% beat on PAT driven by a beat on NII and credit cost and a big beat on opex.”
PL Capital also retained its ‘Buy’ call with a target price of Rs 1,500, citing operating cost control and stronger core profitability. Emkay Research maintained its ‘Buy’ rating with a target price of Rs 1,475, implying an upside of 7.92%, supported by lower staff costs and provisions.
Maruti Suzuki
Maruti Suzuki continues to see mixed views, but still qualifies as a consensus ‘Buy’ stock with positive ratings from Motilal Oswal and JM Financial.
Motilal Oswal reiterated its ‘Buy’ rating with a target price of Rs 18,197, implying an upside of 24.80%. The brokerage said, “Despite pricing pressure, MSIL has refrained from taking a price hike as it would look to take advantage of the current demand momentum.”
JM Financial maintained its ‘Buy’ rating and raised its target price to Rs 19,350, which implies an upside of 32.73%. JM Financial said, “Operating margins were impacted by adverse raw material costs and price reductions, whereas strong operating leverage partially offset these headwinds.”
Mphasis
MphasiS has ‘Buy’ ratings from both JM Financial and Nuvama Institutional Equities after the December quarter.
JM Financial has a target price of Rs 3,330, implying an upside of 20.87%, supported by deal wins and operating leverage. Nuvama retained its ‘Buy’ rating with a target price of Rs 3,400, implying an upside of 23.41%.
Nuvama said, “Mphasis delivered strong deal wins again, although revenue growth still lags deal activity and needs to pick up to provide higher growth visibility.” The brokerage added that margins remain within the guided range despite ongoing investments.
Coforge
Coforge has received ‘Buy’ ratings from Motilal Oswal and Nuvama Institutional Equities, with both brokerages highlighting strong deal momentum and order book growth.
Motilal Oswal has a target price of Rs 2,500, implying an upside of 53.99%, citing execution strength in travel and insurance verticals. The brokerage said, “Coforge continues to demonstrate industry-leading growth through its proactive deal-sourcing.”
Nuvama also retained its ‘Buy’ rating with a target price of Rs 2,500, which implies an upside of 49.90%. The brokerage said, “Coforge delivered solid Q3FY26 numbers while preparing a strong foundation for its long-term sustainability through revenue diversification and improving cash flows.”
Conclusion
Analysts, however, remain watchful of margins, demand recovery and execution. The consensus across reports points to earnings visibility, balance sheet strength and valuation comfort as the key reasons these names continue to feature among brokerage favourites.