Brokerages Turn Bullish on Select Stocks, Up to 41% Upside

Brokerage Turns Bullish on Select Stocks; Upside Potential Up to 41%

Leading brokerage firms, including Motilal Oswal, Nuvama, Jefferies, Nomura, and JM Financial, have maintained a positive outlook on several mid-cap and large-cap stocks across IT, telecom, auto, and renewable energy sectors. According to their latest research reports, select stocks such as HCL Technologies, Coforge, Bharti Airtel, Tata Motors, and Suzlon Energy could deliver returns ranging from 10% to 41%, driven by strong fundamentals and sector-specific tailwinds.

HCL Technologies: AI Push Driving Growth

Nomura has reiterated a “Buy” rating on HCL Technologies with a target price of ₹1,600, implying nearly 41% upside potential. The company’s recent investment in a fast-growing Indian AI firm is expected to strengthen its positioning in emerging artificial intelligence-led enterprise solutions. Analysts believe this move could help HCLTech tap into next-generation digital transformation demand.

Coforge: Expansion and Revenue Visibility Strong

Motilal Oswal has recommended a “Buy” on Coforge with a target price of ₹1,900. The brokerage expects the company to double its revenue to around $5 billion by FY30. Growth is expected to be driven by large deal wins, deeper client engagement, and strategic acquisitions in key global markets.

Bharti Airtel: Strong Telecom Leadership

Jefferies remains bullish on Bharti Airtel with a target price of ₹2,350. The telecom giant continues to benefit from strong Average Revenue Per User (ARPU) growth and steady subscriber additions. According to analysts, Airtel has captured a significant portion of industry incremental revenue, highlighting its strong competitive position.

Tata Motors: Recovery and Product Pipeline Strength

Nuvama has maintained a “Buy” rating on Tata Motors with a target price of ₹440. The brokerage expects recovery in volumes following recent disruptions, along with improving performance in North American operations. A strong upcoming product pipeline is also expected to support long-term growth.

Suzlon Energy: Renewable Energy Expansion Story

JM Financial has issued a “Buy” call on Suzlon Energy with a target price of ₹65. The company’s growing asset management business is seen as a key value driver. Suzlon aims to expand its asset base significantly from 18 GW to over 70 GW by FY31, spanning wind, solar, and battery storage projects.

Market Outlook

Overall, brokerages highlight a mixed but optimistic market environment. While global uncertainties and interest rate expectations continue to weigh on sentiment, strong corporate earnings, sectoral growth in IT and renewable energy, and telecom consolidation trends are expected to support selective stock performance.

Investors are advised to focus on fundamentally strong companies with long-term visibility.