Brokerages initiate coverage on Meesho, Bharti Airtel, 6 other stocks with up to 33% upside. Do you own any?

A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as internet, and power. Analysts are bullish on major names such as Airtel, CG Power, among others and forecast strong upside from current market levels. Here is a list of 8 stocks on which brokerages initiated coverage.

With a Buy call, Elara Capital has initiated coverage on the stock with target of Rs 2,427, upside of 33%. Its disciplined investment in network quality – from dense fiber and submarine cable capacity to robust backhaul infrastructure – has preserved its average revenue per user (ARPU)-premium through periods of hyper competition, and it is now the primary driver of stronger cash generation.

Macquarie initiated coverage with an 'Underperform' rating and TP of Rs 125, a downside of 25% from current levels. The brokerage feels that deflating order values is limiting the company’s economics, despite robust order growth and FCF focus.

With a Buy call, Citi kept a target price of Rs 6,200 per share, implying an upside potential of nearly 26% from the stock’s previous closing price. It said that the firm has strong HVDC and export exposure, with medium-term growth being supported by capacity expansion and parent's global platform.

Citi kept a target price of Rs 1,100 apiece, implying an upside potential of more than 20% from the stock’s previous closing price. It highlighted the firm’s diversified exposure to transmission, railways, industrials and semiconductors, supported by aggressive capacity addition, though increasing competition in motors and railways is limiting margin upside in the segment.

International brokerage firm Jefferies started coverage on Poonawalla Fincorp with a Buy rating and a target price of Rs 490 (27% upside) from current market levels, citing positive levers of growth. Jefferies says the company is well positioned to accelerate growth under its revamped leadership team, expanding product portfolio, wider distribution network and sharper underwriting practices.

With a Buy call, Elara Capital has set a target of Rs 430 (14% upside). Accelerating 5G adoption and rising data use in India would drive sustained demand for network densification, increased equipment loading, small-cell & IBS infrastructure deployment benefitting Indus Towers. A capex revival and improving liquidity at Vodafone Idea should bolster tenancy additions and lower receivables risk, supporting high site-level utilization.

With a Buy call, Motilal Oswal has a TP of Rs 1,266 (upside 29%) from current levels. It said group consolidation could unlock meaningful value, with unlisted Anand Group ventures generating PAT of Rs 230 crore potentially being worth as much as Gabriel India's standalone suspension business. A premium valuation appears justified, supported by restructuring-led earnings growth and Gabriel's emergence as the group's preferred platform for future restructuring and joint venture opportunities.

JM Financial initiated with Buy and a TP of Rs 650 (23% upside). BlueStone’s vertically integrated omni-channel model addresses consumers’ need for trust and physical validation by combining online discovery with offline conversion at its stores, the brokerage said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)