The markets have been on an uptrend for the last three consecutive sessions. Several stocks have seen sharp price action after last week’s steep decline. A host of brokerage houses, both domestic as well as international, have come up with their research notes on stocks in the highly uncertain geopolitical scenario. These brokers see as much as 80% upside in one of the stocks. Read to know more-
Motilal Oswal on ACME Solar Holdings
Motilal Oswal retained a ‘Buy’ rating on ACME Solar Holdings. The brokerage house kept the target price of Rs 341 on the stock, translating into an upside potential of more than 34%.
It believes that ACME Solar Holdings has strong earnings visibility as its portfolio currently stands at 8.1GW (comprising 3GW operational capacity and 5.1GW under construction), with 78% of capacity backed by PPAs (Power Purchase Agreements).
Motilal Oswal believes that as projects under construction are commissioned, operational capacity is expected to increase from 2.5GW at the end of FY25 to 5.5GW by the end of FY28, driving EBITDA per adjusted net profit CAGR of 74%-76% over FY25–28.
JM Financial on Eternal
Eternal’s share price saw a sharp correction over the past few months. The stock has fallen nearly 40% from its recent highs. However, domestic brokerage house JM Financial believes the sell-off is perhaps overdone and sees room for meaningful upside from current levels.
In its latest note, JM Financial maintained a ‘Buy’ rating on Eternal with a price target of Rs 400, implying an upside of over 80% from current levels. According to the report, the optimism comes despite rising competition in both quick commerce and food delivery, as well as broader macro uncertainties.
Quick commerce and competition go hand in hand. Everyone wants a slice of the up-and-coming segment; as a result, big players like Flipkart and Amazon are also scaling up their dark store networks and competing aggressively on pricing and delivery fees.
Nomura on Indian Hotels Company
The Indian Hotels Company share price has taken a beating, down 21% in six months, hit by West Asia war jitters and a fall from its highs, even as the broader market has not corrected as much. But Global brokerage house, Nomura, says it is not stepping away from the counter.
Nomura has retained the ‘Buy’ rating on Indian Hotels Company, while trimming the target price from Rs 830 to Rs 800, implying a 28.6% upside.
The brokerage house took cognizance of the recent turbulence but says the damage to the fourth quarter earnings is likely to remain limited, while the earnings trajectory from FY26 to FY28 stays intact with a projected annual EBITDA growth rate of 13% to 14% on a compounded basis.
JM Financial on Polycab India
Domestic brokerage house JM Financial retained a ‘Buy’ rating on Polycab India. They have set a target price of Rs 9,000, implying about 23% upside from the current levels.
JM Financial expects Polycab India’s March quarter to be relatively weak compared with earlier expectations. The brokerage said business activity during January and February 2026 remained broadly normal, though January saw some overstocking while February witnessed destocking across the channel.
However, March has been weaker so far due to uncertainty related to ongoing West Asia conflicts and a high base, which could affect fourth-quarter estimates.
Motilal Oswal on Hindalco Industries
The domestic brokerage house, Motilal Oswal Financial Services, has retained its ‘Buy’ rating on Hindalco Industries despite the fire at the Oswego plant of Novelis. They believe that the long-term outlook on the company remains robust on the back of domestic growth and cost effectiveness.
The brokerage house has set a target price of Rs 1,110 per equity share on Hindalco Industries. This implies a potential upside of over 21% from current levels.
The company’s management expects domestic demand (across Asia) to remain robust and outpace the modest growth expectation of 2-4% CAGR globally, broadly driven by renewable & electrification, infra spending, packaging, and auto/EV adoption.
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.