Synopsis:
Jefferies maintains bullish calls on Paytm, Axis Bank, and IndiGo, offering 19–21% upside potential. Target prices highlight confidence in digital finance expansion, resilient banking performance, and aviation sector recovery.
Jefferies has spotlighted three promising stocks in India, projecting strong upside potential across fintech, banking, and aviation. With robust fundamentals and sectoral tailwinds, Paytm, Axis Bank, and IndiGo emerge as key ‘Buy’ recommendations for investors seeking growth opportunities.
One 97 Communications Ltd
One 97 Communications Ltd, the parent of Paytm, is a leading Indian digital payments and financial services company. Founded in 2000, it offers mobile payments, wallets, banking, lending, and wealth management, driving India’s shift toward a cashless economy.
With market capitalization of Rs. 75,279 cr, the shares of One 97 Communications Ltd are currently trading down at Rs. 1,178 per share, from its previous close of Rs. 1,196.20 per share.
Jefferies has reiterated its ‘Buy’ rating on Paytm, assigning a target price of ₹1,420, which signals a potential upside of about 20.5% from current market levels. The rationale behind Jefferies’ view on Paytm is that recent regulatory actions such as curbs on online gaming platforms and rent payments pose minimal risk, as these segments either no longer contribute or add negligible revenue. The brokerage expects improved operating efficiency and reduced expenses, prompting an upward revision of FY27–28 EBITDA estimates by 9–14%.
Axis Bank Ltd
Axis Bank Ltd is one of India’s leading private sector banks, offering a wide range of financial services including retail banking, corporate lending, treasury operations, and digital banking. Known for strong growth and innovation, it serves millions across urban and rural India.
With market capitalization of Rs. 3,63,200 cr, the shares of Axis Bank Ltd are currently trading up at Rs. 1,170 per share, from its previous close of Rs. 1,144.40 per share.
Jefferies has identified Axis Bank as a top pick, assigning it a target price of ₹1,370, which suggests a potential upside of around 17%. Jefferies’ positive stance on Axis Bank is driven by expectations of improving deposit growth, supported by stabilising retail outflows, government balances, and easing competition in deposit rates. Credit quality is also showing signs of stability in unsecured personal and SME loans, with technical downgrades expected to moderate.
InterGlobe Aviation Ltd
IndiGo (InterGlobe Aviation) Ltd is India’s largest airline by market share, renowned for its low-cost model, operational efficiency, and extensive domestic and international network. Established in 2006, it has consistently expanded its fleet and connectivity, driving strong growth in India’s aviation sector.
With market capitalization of Rs. 2,21,733 cr, the shares of InterGlobe Aviation Ltd are currently trading down at Rs. 5,733 per share, from its previous close of Rs. 5,747.50 per share.
Jefferies has assigned a ‘Buy’ rating to InterGlobe Aviation (IndiGo), with a target price of ₹6,925, indicating an upside potential of approximately 20.7%. Jefferies’ bullish outlook on IndiGo is supported by the airline management’s guidance for early double-digit capacity growth in FY26. This expansion is driven by a combination of new aircraft deliveries, redeliveries, short-term leases, and a strategic focus on increasing the international route mix, signaling strong growth potential.
Written by Manideep Appana
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