The Indian stock market has just set a record, but not one investors hoped for. Dalal Street has logged losses for eight consecutive weeks, surpassing the streaks seen during the 2020 Covid-19 crash and the 2008 global financial crisis. Axis has picked 7 largecap stocks that have robust value after the sharp correction.
Bajaj Finance
Axis has set a price target of Rs 1,305, a 36% upside from current levels. The company is one of India’s largest NBFCs for consumer finance, with a wide product portfolio comprising loans for two-wheelers, consumer durables, housing, and small businesses, among others.
Bharti Airtel
With a price target of Rs 2,530, the brokerage has implied an upside potential of 44% from current levels. It is an Indian multinational telecommunications company operating in 18 countries across South Asia, Africa, and the Channel Islands. It is India's second-largest telecom operator, boasting a strong domestic presence and a comprehensive digital services portfolio that includes fibre optic networks, mobile and desktop telephony, and other digital solutions.
ICICI Bank
With a target price of Rs 1,800, the brokerage implies an upside potential of 36% from current levels. The lender is supported by a strong liability franchise and a healthy retail corporate mix. The bank’s subsidiaries, such as ICICI Venture Funds, ICICI Pru AMC, ICICI Securities, ICICI Prudential, and ICICI Lombard, are among the leading companies in their respective domains.
Eternal
With a target price of Rs 390, the brokerage implies an upside of 22% from current levels. The company has an asset-light business model based on aggregating demand and supply while enabling efficient last-mile logistics, creating strong network effects, and high user engagement. It consists of four major businesses, namely Zomato, Blinkit, District, and Hyperpure.
Varun Beverages
With a target price of Rs 530, the brokerage implies an upside of 23% from last close. VBL is a key player in the global beverage industry and the second-largest franchisee of PepsiCo worldwide (outside the US), with operations across 10 countries under franchise rights and an additional 4 countries under distribution rights.
Kotak Mahindra Bank
With a target price of Rs 500, Axis predicts an upside of 20% from current levels. It is one of India’s leading diversified financial services groups, offering a broad range of solutions across customer segments and geographies. It serves retail customers (including salaried and self-employed), small businesses, NRIs, institutions, and government entities, supported by a strong focus on convenience, innovation, and digital-first offerings.
Nestle India
The brokerage has pegged the target price at Rs 1,765, an upside of 35% from current levels. Nestlé India manufactures and markets a wide range of food and beverage products, including milk and milk products, coffee, tea, noodles, chocolates, confectionery, and infant nutrition. Some of its popular brands in India include Maggi, Nescafé, KitKat, MilkyBar, and Nestle Everyday.
Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
