The markets saw significant value buying. If you are keen to know about the right bets, Jefferies has turned its attention to a mix of companies that are well-placed to benefit from rising infrastructure spending, a rebound in sectors tied to the economic cycle, and financial firms that have built stability by spreading their risk. These picks come with strong upside potential, supported by steady demand, improving earnings, and clearer visibility over the next few years.
Jefferies on InterGlobe Aviation (IndiGo): ‘Buy’
IndiGo carries a 43% upside with a target price of Rs 7,025. Jefferies kept its Buy call even after the aviation ministry asked the airline to trim its winter schedule by about 10%, which removes any year-on-year growth in domestic flights for the season.
The brokerage pointed to IndiGo’s quick recovery from recent operational issues. Daily flights have climbed back above 1,800, and its on-time record is now above 85%. With several airlines cutting capacity, fares should stay firm, which supports IndiGo’s profit outlook.
Jefferies on Bajaj Finserv: ‘Buy’
Bajaj Finserv also comes with a 31% upside. Jefferies has set a target price of Rs 2,710. The brokerage said the company’s broad mix of businesses across lending, insurance, and newer financial services adds stability.
Investors are paying about 23 rupees for every 1 rupee of profit expected in FY27, and the stock is priced at about 4.3 times the company’s net worth for that year. Jefferies says the stock may look a bit expensive, but it makes sense because the company has many strong businesses, lending, insurance, and newer financial services, and all of them are growing steadily. This mix gives the company a solid future, which supports the current price.
Jefferies on Home First Finance: ‘Buy’
Home First offers a 34% upside. Jefferies has set a target price of Rs 1,560. The company posted a better-than-expected profit in the September quarter. Jefferies noted a small rise in stress in a few parts of the book but said the lender remains on a strong footing.
The firm expects the company’s earnings to grow 24% a year over FY26–28. It also forecasts a 4% return on assets and a 14–15% return on equity in FY26 and FY27, which signals steady profitability.
Jefferies on Siemens Energy India: ‘Buy’
Siemens Energy India comes with a 32% upside and a target price of Rs 4,000. Jefferies believes the company is well placed as India steps up its investment in the power sector. The country’s spending on power networks and equipment is expected to more than double over the next few years, which should lift demand for the company’s products and services.
A key positive is the company’s order book of Rs 16,200 crore, which is more than twice its annual revenue, giving strong visibility for future work. Jefferies expects sales to grow about 37% a year over FY25–27. As revenue rises, salary and overhead costs will take up a smaller share of total expenses, improving profit margins. Earnings are estimated to rise by nearly 50% a year during this period.
Jefferies on Shyam Metalics: ‘Buy’
Shyam Metalics has a 31% upside with a target price of Rs 1,050. Jefferies said the stock could benefit if steel prices in Asia rebound from their current depressed levels, which are close to a 15-year low.
The brokerage also expects the government to bring back a protection duty on imported steel. That duty expired in early November, which pushed domestic prices down. If it returns, domestic prices should firm up, helping producers like Shyam Metalics.