Archive · 23 Aug 2026
Brokerages Back Five Stocks With Up To 41% Upside
Several brokerages have given positive opinions on five Indian companies.
Bharat Electronics and Solar Industries may benefit from India buying and making more defence equipment.
Adani Ports may gain from growing trade and its international business.
Eternal runs businesses including Blinkit and Food Delivery, which are continuing to expand despite strong competition.
ICICI Bank is growing its loans faster and has kept its lending margins relatively strong.
The brokerages have set different target prices for the same companies.
Their estimated potential gains range from about 1.4% to 40.8% where figures are provided.
These are analyst opinions, not guarantees that the shares will rise.
Investors are advised to conduct their own research or consult a financial adviser.
Bharat Electronics is backed by Macquarie and Goldman Sachs on defence spending and domestic manufacturing prospects.
Adani Ports received positive views from Bernstein and PL Capital, citing trade growth, overseas operations and the Vizhinjam partnership.
Bernstein and Emkay favour Eternal as quick-commerce competition remains intense but Blinkit and Food Delivery continue to grow.
Goldman Sachs and Elara Capital see Solar Industries benefiting from expanding defence products, explosives and mining operations.
Goldman Sachs and Anand Rathi recommend ICICI Bank for accelerating credit growth, resilient margins and asset quality.
- Who
- Bharat Electronics, Adani Ports & Special Economic Zone, Eternal, Solar Industries India and ICICI Bank, as assessed by multiple brokerages.
- What
- Multiple brokerages issued Buy or Outperform recommendations on the five stocks.
- When
- The reports’ publication date is not specified.
- Where
- India’s equity market and the companies’ Indian businesses.
- Why
- The recommendations cite defence spending, credit growth, quick-commerce and food-delivery momentum, port infrastructure and expanding business opportunities.
- Stocks covered
- Bharat Electronics, Adani Ports & Special Economic Zone, Eternal, Solar Industries India and ICICI Bank
- Highest stated upside
- Eternal: 40.8% to Emkay’s target price of Rs 400
- Bharat Electronics targets
- Macquarie: Rs 550, or approximately 33.2% upside; Goldman Sachs: Rs 445, or approximately 7.7% upside
- Adani Ports target
- PL Capital: Rs 2,123, or approximately 17.3% upside
- Solar Industries targets
- Goldman Sachs: Rs 20,180, or approximately 1.4% upside; Elara Capital: Rs 15,450, with the article not providing an upside percentage
- ICICI Bank targets
- Goldman Sachs: Rs 1,935, or 37% upside; Anand Rathi: Rs 1,746, or approximately 20.9% upside
- Key operating figures
- ICICI Bank’s credit growth was 19.9% year-on-year and its net interest margin was 4.36%; Eternal’s Blinkit net operating value grew 19.1% quarter-on-quarter.