8 Stocks to buy now for an upside of 29%; Recommended by Axis Securities
Axis Securities has identified top stock picks for September, offering potential upside of up to 29%. These stocks span various sectors, including finance, healthcare, telecom, and infrastructure, with strong growth prospects, solid financial performance, and market leadership. Here’s a look at the key stocks and the reasons behind their selection.
Here is the List of stocks to watch out for
Shriram Finance Limited
Shriram Finance is a leading non-banking financial company (NBFC) specializing in retail finance, including loans for commercial vehicles, personal loans, and rural financing.
Axis Securities has projected a 29% upside for Shriram Finance, with a price target of ₹750 per share from the Previous day’s close. The brokerage expects the stock’s performance to be driven by consistent growth, improved asset quality, and a favorable increase in net interest margins (NIMs). At current levels, they consider the stock’s risk-reward ratio to be attractive.
State Bank of India Ltd
State Bank of India (SBI) is India’s largest public sector bank, offering a wide range of banking services, including retail, corporate, and investment banking. Axis Securities has set a price target of ₹1,025 per share for SBI, indicating a potential upside of 28% from the Previous day’s close. The brokerage believes SBI is well-positioned to sustain its growth, supported by a strong loan-to-deposit ratio (LDR), which will help accelerate credit growth. While near-term pressures on net interest margins (NIMs) are expected, deposit rate cuts should aid recovery. With robust asset quality, SBI is expected to achieve a 1% return on assets (RoA) over FY26-28.
Prestige Estates Projects Ltd
Prestige Estates Projects is a leading real estate development company in India, known for its residential, commercial, and hospitality projects across key cities. Axis Securities has set a price target of ₹2,000 per share for Prestige Estates, anticipating a 28% upside from the Previous day’s close. The brokerage highlights the company’s strong FY26 guidance, targeting pre-sales of ₹27,000 crore, along with a solid launch pipeline worth ₹43,000 crore in gross development value (GDV). The management is optimistic about sustaining sales momentum, and the annuity portfolio is expected to grow, with exit rentals projected to reach ₹4,900 crore by FY30.
Lupin Limited
Lupin is a global pharmaceutical company known for its strong presence in branded and generic formulations. Axis Securities has projected a 27% upside for Lupin, with a price target of ₹2,400 per share from the Previous day’s close. At its current market price, Lupin trades at 23.5x and 21.5x its FY26 and FY27 earnings estimates, respectively. The brokerage believes this valuation is attractive, considering the company’s strong growth prospects and solid market position.
Max Healthcare Institute Ltd
Max Healthcare Institute is one of India’s leading healthcare providers, offering comprehensive medical services through its network of multi-specialty hospitals across the country.
Axis Securities has projected a 26% upside for Max Healthcare, with a price target of ₹1,450 per share from the Previous day’s close. The brokerage expects incremental growth driven by the ramp-up of developing hospitals, increasing occupancy, and revenue. Max Healthcare’s focus on expanding its oncology and international patient businesses, while maintaining strong return ratios, supports its positive outlook.
Bajaj Finance Ltd
Bajaj Finance is a leading non-banking financial company (NBFC) offering a wide range of financial products, including loans, insurance, and wealth management services.
Axis Securities has projected a 25% upside for Bajaj Finance, with a price target of ₹1,100 per share from the Previous day’s close. The brokerage expects improved margins, supported by faster transmission of rate cuts in cost of funds (CoF) and an optimal borrowing mix. While the MSME segment may face some near-term challenges, Bajaj Finance’s overall growth remains healthy. As asset quality pressures ease, Axis Securities anticipates credit costs normalizing, which should boost earnings.
Bharti Airtel Ltd
Bharti Airtel is one of India’s largest telecommunications companies, offering a wide range of mobile, broadband, and digital services. Axis Securities has projected a 22% upside for Bharti Airtel, with a price target of ₹2,300 per share from the Previous day’s close. The brokerage maintains a “buy” rating, driven by the company’s superior margins, impressive subscriber growth, and increased 4G conversions. These factors are expected to support continued strong performance and growth.
APL Apollo Tubes Ltd
APL Apollo Tubes is a leading manufacturer of steel pipes and tubes in India, serving a wide range of sectors, including infrastructure, construction, and agriculture. Axis Securities has set a price target of ₹1,950 per share for APL Apollo Tubes, indicating a 22% upside from its previous closing price. The brokerage believes the company is well-positioned to capitalize on India’s infrastructure growth, with EBITDA projected to grow at a Compounded Annual Growth Rate (CAGR) of 38% over FY25-27.
Other Top Picks
In addition to the eight stocks mentioned, Axis Securities has highlighted several other top picks for September, including Varun Beverages (21% upside), HDFC Bank (21% upside), Avenue Supermarts (11% upside), Hero MotoCorp (16% upside), Kirloskar Brothers (20% upside), Sansera Engineering (18% upside), and Kalpataru Projects (18% upside).
Written By Sridhar J
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