A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as banks and consumer discretionary. Analysts are bullish on major names such as Kalyan Jewellers among others and forecast strong upside from current market levels. Here is a list of 5 stocks on which brokerages initiated coverage.<\/p>\n
International brokerage Jefferies initiated coverage on the stock with a Buy call and a target price of Rs 830, forecasting an upside of 36% from current levels. The foreign brokerage said the company has built a differentiated growth engine by combining neighbourhood relevance with the scale of an organised retailer, a strategy that should continue to drive market share gains in the coming years.<\/p>\n
Domestic brokerage firm Systematix Institutional Equities has initiated coverage on the country\u2019s largest aluminium producer Vedanta Aluminium (VAML) with a Buy rating, and a target price of Rs 598, implying a 33% upside. Backward integration is set to drive the newly-demerged company\u2019s next earnings cycle, as per the brokerage\u2019s note, following a threefold year-on-year jump in its consolidated net profit to Rs 5,629 crore in the June quarter of FY2026.<\/p>\n
ICICI Securities initiated coverage on the lender with an Add rating and a target of Rs 140 (7% upside). The brokerage assigned a target multiple in line with its estimated return on assets (RoA). It said the bank stands out due to its large 20% share of gold loans, which contributes more than 400 basis points to overall loan growth, supports priority sector lending certificate (PSLC) fee income, enhances financial leverage and return on equity (RoE), and helps keep agricultural NPAs under control.<\/p>\n
ICICI Securities initiated coverage with an Add rating and target price of Rs 275 (11% upside). The brokerage assigned a target multiple that is slightly lower than its estimated return on assets (RoA), citing the bank's relatively weaker core pre provision operating profit (PPOP) and a more volatile growth profile.<\/p>\n
Domestic brokerage Nuvama assigned a target price of Rs 1,276, implying an upside potential of 18% over the stock\u2019s previous closing price. As India's largest listed garment manufacturer with an annual capacity of 204 million pieces, KPR Mill is fully integrated from cotton yarn to garmenting. Nuvama views it as the direct play on global garmenting tailwinds, having consistently maintained 88\u201398% utilization levels through its expansion phases.<\/p>\n
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)<\/p>\n