The markets are trending higher and if you are keen about exploring the potential stocks to invest in, here is just the right solution for you. Motilal Oswal has released the ‘Focus Investment Ideas’ report for September 2025. The domestic brokerage house has curated a list of large and midcap stocks, which it believes are poised for significant growth.
From highlighting key drivers that are expected to push the performance of these companies to the price target and the investment rationale, the report has listed out detailed analysis for top largecap and mid-cap picks at this hour. Motial Oswal’s top largecap picks
HDFC Bank: Motilal Oswal sees steady growth
HDFC Bank, the country’s largest private lender, is poised for steady growth, according to the brokerage house. They pointed out that lending is expected to match the overall system levels in FY26, driven by rural recovery as well as momentum in MSME and business banking. Motilal Oswal sees a steady quarter ahead. “The growth parameters are poised to gain traction,” Motilal Oswal added.
HDFC Bank’s expanded its network of approximately 9,700 branches. The report projected a 19% upside for the bank with a target price of Rs 1,150 per share.
Bharti Airtel: Motilal Oswal sees long-term value
Motilal Oswal highlighted Bharti Airtel as a potential pick for long-term value creation, driven by its robust premiumisation strategy, growth in Airtel Africa’s digital and financial services, and margin expansion.
Motilal Oswal estimated that declining capital expenditure intensity in FY26 will lead to robust free cash flow of close to Rs 1 lakh crore over FY26-FY27. This is expected to strengthen the balance sheet and improve shareholder returns for the telecom stock. As expected, the 15% Indian wireless tariff hike is also a key driver, projecting a 21% upside.
Hindustan Unilever: Motilal Oswal sees macro tailwinds
Hindustan Unilever is seen as a structurally strong play in India’s FMCG sector, benefiting from deep distribution and a strong brand portfolio. Motilal Oswal is betting on the likely “volume-based growth.” The brokerage house added that the other big positive would be “macro tailwinds from lower inflation.”
Rural recovery and expansion into premium portfolios are critical drivers, as per Motilal Oswal. Acquisitions like Minimalist and Oziva are also seen as positives, helping the company “enhance exposure to high-growth areas.” Motilal Oswal, in its report, also noted that GST reduction on personal care and packaged foods is likely to boost growth and consumer demand. They see nearly 14% upside for the HUL share price.
Ultratech Cement: Motilal Oswal says demand outlook positive
UltraTech Cement has maintained its leadership in the Indian cement sector. Its pan-India presence, ongoing capacity expansions, and seamless integration of acquired assets are helping the company maintain pole position.
Strong demand from government infrastructure spending, urban housing recovery, and rural growth are expected to be key drivers going forward, as per Motilal Oswal. The GST rate cut is also seen as a potential positive. The report indicates nearly 16% upside for the cement stock.
Motial Oswala’s high-potential midcap opportunities
The small and midcap space is also buzzing with activity. Here are some of Motilal Oswal’s top picks in this space:
Vishal Mega Mart: Motilal Oswal sees 11% upside
Vishal Mega Mart stands out as one of India’s largest offline-first value retailers, with 72% of its 696 stores located in Tier 2+ India. The company aims to add over 100 stores annually, leveraging strong store-level profitability and self-funded expansion. The GST cut on apparel and footwear is expected to drive stronger demand. Motilal Oswal sees upside potential of up to 11% for the stock.
Radico Khaitan: Motilal Oswal sees 18% upside
Radico Khaitan is well-positioned for growth through aggressive expansion in the premium and luxury spirits segment, as per Motilal Oswal. They pointed out that the alcohol-beverage company is capitalising on strong brand equity with products like 8 PM and Rampur Single Malt. Motilal Oswal expects the stock to surge another 18% over the next 1 year.
Lemon Tree: Motilal Oswal sees 14% upside
Lemon Tree is another big midcap bet for Motilal Oswal. The company has signed new properties and also expanded the management contract pipeline. This should add to the growth momentum for Lemon Tree, as per the brokerage house. The GST cut on hotel rooms below Rs 7,500 is expected to improve affordability and boost occupancy in its mid-market portfolio. The brokerage house expects the share price to surge 14%.