A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as broking, financials, IT, and auto. Analysts are bullish on major names such as Adani Power, Groww, Coforge, Tata Motors, and forecast an upside of up to 72% from current market levels. Here is a list of 8 stocks on which brokerages initiated coverage this week.
Domestic brokerage firm JM Financial initiated coverage on the stock with a ‘Buy’ rating, setting a target price of Rs 178 per share. This implies a potential upside of 20.2% from the current market price of approximately Rs 148. The brokerage’s optimism stems from the company’s strong execution capabilities, dominant position in the thermal power space, and the robust demand outlook for power in India.
Domestic brokerage firm InCred Equities initiated coverage with an Add rating and a target price of Rs 513, implying an upside of over 18% from current market levels. The commercial vehicle (CV) business cycle appears to be turning, with momentum expected to build after a prolonged downcycle that played out over six quarters between April 2024 and July 2025.
Shares of Billionbrains Garages Ventures can rally as much as 19% from current market levels, Motilal Oswal said after initiating coverage with a Buy rating and a target price of Rs 185 per share. Analysts say Groww continues to maintain a strong competitive position in the broking space, with its cash ADTO (average daily turnover) market share holding steady at 23–24%.
Choice Institutional Equities initiated coverage on the stock with a Buy call and a target price of Rs 1,880. That’s an upside of 72% from current market levels. The company is fast-tracking global expansion through strategic partnerships and capability-led acquisitions. Collaborations with Finastra, FIS, Murex, and MasterCard enhance product reach, co-innovation, and client access, driving partnership-led revenue to rise from ~20% in FY22 to over 45% by FY26E.
Nuvama Institutional Equities initiated coverage with a Buy rating and set a target price of Rs 720, forecasting an upside potential of nearly 43%. The agriculture sector is on the cusp of a technological shift towards solar pumps, given the cost economics for the government and farmers. Industry estimates suggest India has over 144 million farmers, but only about 30 million have installed solar pumps so far — indicating a long growth runway for solar pump players such as Oswal Pumps.
Domestic brokerage firm Prabhudas Lilladher initiated coverage on the stock with a Buy rating and a target price of Rs 2,140. That’s an upside of 30% from current market levels. Its executable order book of around $1.6 billion offers revenue visibility of nearly 80%. The company secured 10 large deal wins in H1FY26, compared with 14 wins in the entire FY25, underscoring confidence in sustaining mid-teens organic growth. Meanwhile, the number of clients at the mid and top tiers of the revenue pyramid has expanded at a CAGR of over 20% over the past five years.
International brokerage firm Nomura initiated coverage with a Buy call on the counter and a target price of 105, an upside potential of 23.5% from current market levels. Analysts said growth visibility remains strong, with loans and deposits expected to clock CAGRs of 20% and 22%, respectively, over FY26–28F. The bank’s fee-income profile, at over 2% of average assets, remains superior to peers.
International brokerage firm Jefferies initiated coverage on the stock with a Buy rating and a target price of Rs 320, a 60% upside from current levels, citing strong growth visibility, policy support and attractive valuations. Analysts at Jefferies suggest that India’s annual solar installations grow at a 24% CAGR between FY25 and FY28, largely aided by falling solar tariffs, rising power demand and the increasing adoption of battery energy storage systems.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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