Jefferies Bullish on Indian Stocks with 19% to 35% Upside

Jefferies, a brokerage firm, has kept its 'Buy' recommendations on several Indian companies across different sectors like mining, banking, telecom, IT services, consumer goods, and financial services.

These companies include Coal India, Bharti Airtel, Hindustan Unilever, Coforge, KFin Technologies, AU Small Finance Bank, and IDFC First Bank.

Jefferies believes these companies are well-positioned to deliver strong earnings growth over the medium term due to various positive factors.

For example, Coforge is expected to benefit from a strong order pipeline and the Encora acquisition, while Bharti Airtel is seeing improved margins and free cash flow.

Coal India is anticipated to see earnings improve as electricity demand recovers.

AU Small Finance Bank is noted for its healthy loan growth and stable asset quality.

KFin Technologies is expected to benefit from continued deal wins and stronger profit guidance.

Hindustan Unilever is seen as an attractive entry opportunity despite some margin pressures.

Overall, Jefferies is optimistic about these companies due to their strong execution and long-term growth drivers.