Archive · 6 Nov 2025
Goldman Sachs Adds 6 Indian Stocks to APAC Conviction List
Goldman Sachs, a big financial company, has picked six companies in India that they think will do really well.
They put these companies on a special list and said people should 'Buy' them because they expect their stock prices to go up a lot.
Companies like PTC Industries, which makes parts for planes, and Solar Industries, which makes important materials for defense, are expected to make much more money.
Havells India and Titan Company are expected to do well because people are buying more electronics and jewelry.
Reliance Industries is growing in many areas like energy and phone services.
MakeMyTrip is doing great because more people are traveling after the pandemic.
Goldman Sachs thinks India is a great place for businesses to grow, but they also warned that things could change in the short term.
Goldman Sachs has included PTC Industries, Solar Industries, Havells India, Titan Company, Reliance Industries, and MakeMyTrip in its APAC Conviction List with a 'Buy' recommendation.
The firm projects up to 43% upside potential for these selected Indian stocks.
Goldman Sachs views India as a strong structural growth story in Asia, driven by industrial, consumption, and digital sectors.
Specific rationales include PTC Industries' aerospace capabilities, Solar Industries' defense orders, Havells India's consumer demand recovery, Titan Company's consistent consumer growth, Reliance Industries' broad-based business expansion, and MakeMyTrip's digital travel recovery.
While bullish on India's long-term prospects, Goldman Sachs cautioned about potential near-term volatility related to execution, input costs, and policy.
- Who
- Goldman Sachs
- What
- Included six Indian stocks in its APAC Conviction List with a 'Buy' recommendation and projected upside potential.
- When
- Latest report (implied recent)
- Where
- India
- Why
- India is viewed as a strong structural growth story in Asia due to industrial capacity expansion, premium consumption, and digital adoption.
Goldman Sachs View
Potential Risks
Overall Market Sentiment
Goldman Sachs View
India is one of the strongest structural stories in Asia, driven by industrial expansion, consumption, and digital adoption.
Potential Risks
Near-term volatility cannot be ruled out, despite a structurally bullish long-term outlook.
Industrial Sector Performance
Goldman Sachs View
Companies like PTC Industries and Solar Industries are poised for multi-year earnings surges due to capabilities, contracts, capacity, and global orders.
Potential Risks
Execution timelines for industrial companies are a key watch point.
Consumer Sector Performance
Goldman Sachs View
Havells India and Titan Company are well-positioned for demand recovery and consistent growth, supported by brand strength and consumer compounding.
Potential Risks
Input-cost swings for consumer names pose a risk.
Energy and Telecom Sector Performance
Goldman Sachs View
Reliance Industries shows broad-based growth across energy, telecom, and retail, with strong cash flows supporting new ventures.
Potential Risks
Policy uncertainty in the energy and telecom sectors is a concern.
- Analyst Firm
- Goldman Sachs
- Report Focus
- APAC Conviction List for India
- Indian Stocks Mentioned
- PTC Industries, Solar Industries, Havells India, Titan Company, Reliance Industries, MakeMyTrip
- Max Upside Potential
- 43%
- PTC Industries Target Price
- Rs 24,725
- Solar Industries Target Price
- Rs 13,889
- Havells India Target Price
- Rs 1,740
- Titan Company Target Price
- Rs 4,350
- Reliance Industries Target Price
- Rs 1,795
- MakeMyTrip Target Price
- $94
