Today, we recommend two stocks, one from the green energy sector and another from the Jewellery sector, recommended by the Trade Brains Portal, to buy for an upside potential of more than 45%. India’s renewable energy sector is experiencing robust growth, with significant capacity additions in solar and wind power, as the country aims towards achieving 500 GW of renewable capacity by 2030.
The global jewellery industry is projected to grow at a CAGR of 5.1% from 2024 to 2032, increasing from USD 232.94 billion to USD 242.79 billion. This growth will be driven by rising demand for gold jewellery, increasing wealth, and greater fashion awareness. We also analysed the market’s performance on Thursday to understand what may lie ahead for the stock indices in the coming days.
1. KPI Green Energy
- Current price: Rs 470.6
- Target price: Rs 625
- Upside: 32.8%
- Time frame: 12-14 Months
To view the report for the stock mentioned above or explore other stock recommendations, click here
Why it’s recommended
The KP Group is a prominent renewable energy company in India, established in 1994. Its listed entities include KPI Green Energy, KP Energy, and KP Green Engineering, through which it has developed over 5.75 GW of solar, wind, and hybrid energy assets. KPI Green Energy, founded in 2008, focuses on solar and hybrid power solutions. It operates under both independent power producer (IPP) and captive power producer (CPP) models, with services offered under the “Solarism” brand.
As of Q1FY26, the company holds orders exceeding 3 GW, a land bank of over 6,275 acres, and has installed more than 503 MW of IPP capacity. KPI Green Energy serves a robust client base that includes major companies such as Coal India Limited, Zydus Lifesciences Limited, Aditya Birla Renewable Energy, Tata Motors, L&T Limited, and even the Indian Air Force.
In Q1FY26, the company’s total revenue surged 75% year-over-year, growing from Rs 350 crore in Q1FY25 to Rs 614 crore. Revenue from IPP accounted for 10%, while CPP contributed 90% in FY25. EBITDA rose by 64%, from Rs 132 crore to Rs 217 crore, and profit after tax increased 68%, from Rs 66 crore to Rs 111 crore over the same period.
As of Q1FY26, KPI has more than 3 GW of upcoming capacity, with 1.2+ GW in IPP and 1.8+ GW in CPP segments. The total installed capacity has exceeded 1 GW, with over 503 MW under IPP and 447+ MW under CPP. EBITDA margins vary significantly: IPP projects deliver high margins of 85% to 90%, whereas CPP projects yield around 20% to 22%. With further capacity expansion, the overall EBITDA margin is projected to average 32% to 33%.
The company aims to scale up to 10+ GW of total capacity by 2030. It has also significantly expanded its presence from 38 sites in Q1FY25 to over 108 sites by Q1FY26. Notably, it secured a repeat order from Avichal Power Private Limited to develop a 100 MW solar project in Gujarat during the same quarter.
Risk Factor
The group’s operations are heavily concentrated in Gujarat, creating geographic concentration risk. This exposes the company to potential regulatory risks, especially if state policies shift or competition intensifies in the region. Additionally, the company faces project execution risks, where delays in implementation could impact profitability. It is also vulnerable to Power Purchase Agreement (PPA) cancellations or unfavourable tariff changes, which could negatively affect its margins and operations.
2. Kalyan Jewellers India Ltd
- Current price: Rs 462.6
- Target price: Rs 675
- Upside: 45.9%
- Time frame: 12 Months
To view the report for the stock mentioned above or explore other stock recommendations, click here
Why it’s Recommended
Kalyan Jewellers is a leading jewellery retailer in India, holding around 7% of the organised jewellery market, with a strong industry presence for over 30 years. The company ranks among the country’s top jewellery brands, operating across 23 Indian states and Union Territories. As of June 30, 2025, it had a network of 368 stores in India, covering more than 883,200 sq ft of retail space. This includes 287 Kalyan Jewellers outlets and 81 Candere stores, the latter focusing on lightweight, affordable jewellery. Internationally, the company has 36 stores in the Middle East and 2 in the United States.
In Q1 FY26, Kalyan Jewellers posted revenue from operations of Rs 7,268.50 crore, a 31% year-over-year increase from Rs 5,572.80 crore in Q1 FY25. Since FY21, the company has maintained a CAGR of 31%, while its profit after tax (PAT) for Q1 FY26 stood at Rs 264.1 crore, marking a 49% rise YoY. PAT has grown at a CAGR of 41% since FY20.
The India segment continues to be the primary revenue driver, generating Rs 6,142.2 crore in Q1 FY26, up 31% YoY, with PAT increasing 55% to Rs 256.5 crore. Regionally, South India brought in Rs 3,116.2 crore (30% growth), while non-South regions contributed Rs 3,026.1 crore (33% growth). The Middle East business also grew steadily, with Rs 1,026.5 crore in Q1 FY26, reflecting a 27% YoY increase.
The company’s growth is being propelled by its FOCO (Franchisee Owned, Company Operated) model, which is supporting rapid expansion in a cost-efficient and strategic manner, particularly across India and the Middle East. This approach is also improving the company’s overall return metrics.
Looking forward, the management has outlined aggressive expansion plans by 2027, targeting: 446 new showrooms in India, 46 additional stores in the Middle East, 233 Candere outlets (originally launched as an online platform) and 471 FOCO-format stores.
Risk Factor
Kalyan Jewellers derives a major share of its revenue from India, making it susceptible to domestic economic shifts, policy changes, and fluctuations in gold prices. The jewellery industry is highly fragmented, with competition from large players like Tanishq and Senco Gold, as well as numerous unorganised local jewellers. Volatile international gold prices can also affect consumer demand, inventory valuations, and profit margins.
Market Recap 25/09/2025
On Thursday, the Nifty 50 opened on a negative note below the 25,100 level at 25,034.50, down -22.40 points from its previous close of 25,056.90. It touched an intraday low of 24,878.30 before closing below the 25,000-mark at 24,890.85, down by -166.05 points, or -0.66%. Technically, the index remained above 2 key exponential moving averages (100 and 200-day) on the daily chart, but it went below 20 & 50-day EMAs. The BSE Sensex also reflected a negative trend, opening at 81,574.31, down -141.32 points from its previous close of 81,715.63.
It traded in a similar pattern to the Nifty 50 and settled below the 81,200 level at 81,159.68, marking a decline of -555.95 points, or -0.68%. Momentum indicators showed moderate strength, with the RSI for Nifty 50 at 46.20 and for Sensex at 45.17, both nearing the overbought level of 70. The Bank Nifty Index closed in negative territory, losing -145.30 points, or -0.26%, to finish at 54,976.20. The broad indices declined for the fifth consecutive session on Thursday amid high volatility caused by weak investor sentiment.
Almost all of the sectoral indices ended in the red on Thursday. The Nifty Metal Index emerged as the top performer, climbing 22.45 points, or 0.22%, to end at 10,082.55. The shares of Hindustan Copper Ltd gained 6.32%, leading the gains in the index. Other metal stocks like Hindustan Zinc Ltd and Vedanta Ltd also rose by up to 3.06%.
On the downside, the Nifty Realty Index was the major loser, closing at 875.90, down -14.70 points, or -1.65%. Godrej Properties Ltd dropped -2.56%, while other realty stocks like Lodha Developers Ltd, Prestige Estates, and DLF Ltd slipped by up to -2.54%. Nifty IT index also followed the fall, declining by -445.95 points or -1.27%, closing at 34,548.30. Tata Consultancy Services, Coforge Ltd, Persistent Systems Ltd, and Oracle Financial Services Ltd all fell by up to -1.97%. Nifty Auto index also fell -249.10 points or -0.92%, closed at 26,758.50.
Asian markets were also on a bearish trend on Thursday. Hong Kong’s Hang Seng Index declined by -44.65 points, or -0.17%, to close at 26,474.00. Whereas, China’s Shanghai Composite Index was down at 3,853.30, losing -0.34 points, or -0.01%. South Korea’s KOSPI Index closed lower at 3,471.11, down -1.03 points, or -0.03%. On the other hand, Japan’s Nikkei 225 Index gained 98.69 points, or 0.22%, finishing at 45,729.00. As of 4:45 p.m. IST, US Dow Jones Futures were trading at 46,092.97, down -26.32 points, or -0.08%.
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