Synopsis:
Motilal Oswal and Sharekhan have issued new buy recommendations on Bharat Electronics, Maruti Suzuki, and Larsen & Toubro. Their targets suggest 14–19% upside, driven by robust earnings outlook and sectoral tailwinds.
Three Nifty stocks have recently received fresh buy calls from top brokerages, highlighting their strong fundamentals and growth prospects. Analysts see potential returns of up to 19% from current levels.
Bharat Electronics Ltd
Bharat Electronics Ltd (BEL) is a leading public sector enterprise under India’s Ministry of Defence, specializing in advanced electronic products and systems for the defence and aerospace sectors. The company has a strong order book, consistent revenue growth, and increasing focus on non-defence segments such as smart cities, space electronics, and healthcare.
With market capitalization of Rs. 2,99,993 cr, the shares of Bharat Electronics Ltd are currently trading at Rs. 411 per share, from its previous close of Rs. 413.25 per share.
Motilal Oswal has given a buy recommendation on Bharat Electronics Ltd, setting a target price of Rs 490, indicating a potential upside of 19% from its current levels.
The brokerage highlights BEL’s robust order book, now exceeding Rs 1 lakh crore after winning a major Rs 30,000 crore order for the Indian Army’s quick reaction surface-to-air missile (QRSAM) project, where BEL will serve as the lead integrator.
Motilal Oswal expects BEL to sustain 15-17% annual revenue growth over the next 5-7 years, with strong operating and free cash flows supported by good working capital management and a cash surplus that enables further capacity expansion.
Maruti Suzuki India Ltd
Maruti Suzuki India Ltd is the country’s largest passenger vehicle manufacturer, known for its wide range of affordable and fuel-efficient cars. With a strong market share, extensive dealership network, and focus on innovation, including electric and hybrid vehicles.
With market capitalization of Rs. 5,06,424 cr, the shares of Maruti Suzuki India Ltd are currently trading at Rs. 16,119 per share, from its previous close of Rs. 15,998 per share.
Sharekhan has given a buy recommendation on Maruti Suzuki India Ltd, setting a target price of Rs 18,400, suggesting a potential upside of 14% from current levels. The rationale includes the stock currently trades at attractive valuations, with a P/E of 27.3x and EV/EBITDA of 18x based on FY2027 earnings estimates.
Growth prospects remain strong, supported by a 14% revenue CAGR and an expected 90-basis-point improvement in EBITDA margin over FY2025–FY2028. The company’s well-diversified portfolio in the sub-1,200 cc segment positions it to capture rising demand fueled by competitive pricing.
Further upside could come from GST rate cuts, festive season demand, and new product launches such as the Victoris (mid SUV) and E Vitara (hybrid and electric drivetrains).
Larsen and Toubro Ltd
Larsen & Toubro (L&T) is a leading Indian multinational conglomerate with expertise in engineering, construction, manufacturing, and technology services. The company has a diversified portfolio spanning infrastructure, heavy machinery, defense, and smart technologies.
With market capitalization of Rs. 5,13,406 cr, the shares of Larsen and Toubro Ltd are currently trading at Rs. 3,729 per share, from its previous close of Rs. 3,737 per share. Motilal Oswal has issued a buy recommendation on Larsen & Toubro (L&T), with a target price of Rs 4,300, indicating a potential upside of 15% from current levels.
Larsen & Toubro’s strong order book of Rs. 6.1T and robust execution momentum, particularly in international projects, are expected to drive sustained revenue growth. Strategic focus on high-potential segments like defence, green energy, semiconductors, real estate, and data centres, combined with a healthy prospect pipeline and consistent win rates, supports long-term expansion. Financially, the company is projected to deliver 16% CAGR in core EPC revenue and 18–21% CAGR in EBITDA/PAT over FY25–28.
Written by Manideep Appana
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