It’s been a rather sharp cut across the markets intra-day. The Nifty has slipped to near 4-month lows. Beyond the index, what investors are keen to understand is what stocks they should be investing in. The brokerage firm Nuvama has highlighted three stocks with ‘Buy’ rating.
According to the brokerage report, these stocks offer upside potential of up to 56% from current levels. The recommendations span infrastructure, healthcare and consumer durables, reflecting a mix of cyclical and defensive opportunities.
Here is a closer look at the three stocks and the reason why they have a positive recommendation –
Nuvama on Apollo Hospitals
Nuvama is also positive on Apollo Hospitals Enterprise, with a target price of Rs 9,090. This suggests an upside potential of about 20% from current levels.
According to the brokerage report, the hospital chain is expected to deliver around 15% hospital revenue growth over FY25-28. This growth is likely to be driven by the addition of around 1,500 beds over FY26–28, along with 12–13% growth in existing hospitals.
As per the brokerage report, “We reckon overall hospital’s revenue/EBITDA CAGR of 15% over FY26-FY28.” It further added, “With the Keimed merger on track, potential listing of the omni-channel pharmacy business remains a key value unlocking catalyst.”
Nuvama has valued Apollo Hospitals on a sum-of-the-parts basis, assigning 26 times enterprise value to EBITDA to its hospital and HealthCo segments and 20 times to Apollo Health and Lifestyle, retaining its target price of Rs 9,090.
Nuvama on Capacit’e Infraprojects
Nuvama has maintained a ‘Buy’ rating on Capacit’e Infraprojects with a revised target price of Rs 413. This implies an upside potential of around 56% from the current market price.
According to the brokerage report, the company posted 14% year-on-year growth in consolidated revenue in Q3FY26. EBITDA margin improved by about 70 basis points year-on-year. However, lower other income led to profit after tax (PAT) declining 4% year-on-year.
As per the brokerage report, “Robust order accretion is a positive, but a stretched working capital cycle and rising leverage impel us to slash the PE multiple to ‘15x’ from ‘17x’ earlier.”
The brokerage also highlighted progress in key projects such as MHADA and CIDCO. Execution is expected to pick up further in FY26-27.
Nuvama on Whirlpool of India
The third ‘Buy’ idea from Nuvama is Whirlpool of India, with a target price of Rs 1,270. This translates into an upside potential of about 42% from current levels.
It has also reduced its target price-to-earnings ratio from 38 times to 35 times due to the overhang of promoter stake sale, resulting in a revised December 2026 target price of Rs 1,270.
At the current market price, the stock trades at 28 times its estimated earnings per share for FY26–FY27.
The management has indicated that profitability will remain sensitive to pricing trends, regulatory costs and product mix.
Conclusion
Overall, Nuvama’s three ‘Buy’ recommendations reflect different themes. Infrastructure execution backed by a strong order book, healthcare expansion supported by capacity addition and mergers, and a consumer durable company navigating growth and ownership changes.