3 weeks ago
Jefferies Backs Six Indian Stocks With 15% To 39% Upside
Jefferies is a big investing research company.
It looked at six companies that do business in India.
These companies sell jewellery, electricity, shipping services, medicines, cars, and home appliances.
Jefferies told investors it thinks buying shares of all six companies is a good idea.
It guessed their share prices could go up by between 15 and 39 percent.
It thinks Kalyan Jewellers, a jewellery store chain, has the best chance of going up.
It likes Torrent Power because the company is building lots of renewable energy, like solar power.
It also really likes LG Electronics, which makes fridges, washing machines, and TVs.
But price guesses like these can be wrong, and share prices can also go down.
This is why the report also talks about what could happen if things go badly.
Jefferies initiated or retained 'Buy' ratings on six Indian stocks spanning jewellery, power, logistics, pharmaceuticals, automobiles and consumer durables, with price targets implying 15% to 39% upside.
Kalyan Jewellers was initiated with a 'Buy' rating and Rs 830 target, implying the highest upside of 39%, driven by India's largely unorganised jewellery market and expansion outside South India.
Torrent Power's target was raised to Rs 1,780 (26% upside), with renewable capacity seen rising at least 3x to a 10 GW target by 2030.
Gateway Distriparks (Rs 74, 23%) and Emcure Pharma (Rs 2,320, 20%) had targets raised after June-quarter results, while Maruti Suzuki India kept a Rs 16,500 target (16% upside) despite margin pressure.
LG Electronics India was named Jefferies' key pick with a Rs 1,810 target (15% upside), citing premium mix, price hikes and market leadership in refrigerators, washing machines and inverter air conditioners.
- Who
- Jefferies, a brokerage, issued the ratings on Kalyan Jewellers, Torrent Power, Gateway Distriparks, Emcure Pharma, Maruti Suzuki India and LG Electronics India.
- What
- Six 'Buy' stock recommendations with price targets implying 15% to 39% upside potential.
- Where
- India.
- When
- Publication dates were not stated; the ratings follow June-quarter results and cover financial year 2026 to financial year 2030 estimates.
- Why
- Jefferies cites growth drivers including jewellery market formalisation, renewable-energy expansion, road-to-rail cargo shift, pharmaceutical export growth, supportive passenger-vehicle demand and consumer-electronics premiumisation.
Key facts
- Brokerage
- Jefferies
- Buy ratings
- 6 Indian stocks
- Upside range
- 15% to 39%
- Highest upside
- Kalyan Jewellers, 39% (target Rs 830)
- Key pick
- LG Electronics India
- Torrent Power renewable target
- 10 GW by 2030
- Emcure Pharma June-quarter revenue
- Rs 25.8 billion (10% above Jefferies' estimate)
- Maruti Suzuki June-quarter EBITDA margin
- 8.2% (down 3.5 percentage points sequentially)
Quotes
Jefferies brokerage analyst
Analyst at Jefferies brokerage
““Regulatory push & rising consumer preference for trusted brands continue to drive formalisation,””
financialexpress.com
““We still believe that margins are the easier problem to solve among the three,””
financialexpress.com
Sources
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