Brokerages initiate coverage on Suzlon, Groww, 5 other stocks with up to 28% upside. Do you own any?

A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as broking, renewable energy and consumer durables. Analysts are bullish on major names such as Groww, Suzlon and forecast strong upside from current market levels. Here is a list of 7 stocks on which brokerages initiated coverage.

BofA Securities initiated coverage on the retail brokerage platform with a Buy rating and a target price of Rs 235, implying an upside of around 20% from the last closing price. The Wall Street firm said Billionbrains Garage Ventures is well placed to benefit from India’s growing retail investor base. It expects the company to deliver revenue growth at a CAGR of 30% over FY26–FY28. The initiation comes after the stock has already gained 31% in calendar year 2026.

Elara Securities has initiated coverage with a Buy call and TP of Rs 54, an upside of 28% from current levels. It is well positioned to benefit from continued cost pressures faced by payers, which are driving outsourcing demand. Its end-to-end capabilities across the payer value chain and the scope for deeper engagement with its top 10 clients further support growth prospects.

JM Financial initiated coverage with a Buy call and TP of Rs 1,755, an upside of 23%. The company is a leading pure-play water technology multinational headquartered in Chennai, India, with over 10 decades of experience in sustainable water and wastewater management. It provides comprehensive solutions across the entire water cycle, spanning desalination, wastewater treatment, water recycling and reuse, ZLD, and waste-to-energy solutions.

The stock has been initiated with a Buy rating by Ambit Capital, setting a target price of Rs 60, an 15% upside from current levels. The brokerage highlighted that 60–70% of wind power generation occurs during the monsoon, a period when solar output is typically weak. It noted that a solar plus battery energy storage system (BESS) setup for round-the-clock supply can support only a single daily discharge or lead to excess generation during summer months. In this context, wind energy plays a crucial role in balancing renewable supply.

The scrip has been initiated with a Buy rating by Investec, with a target price of Rs 1,262, an upside of 17.2%. The brokerage sees Welspun Corp as a de-risked play on a potentially strong earnings upgrade cycle. At its core, the company operates a leading line-pipe franchise with a strong presence across India, the US and Saudi Arabia. These key markets are supported by sustained capex tailwinds in oil and gas, water infrastructure and emerging energy segments, which are expected to drive growth.

The stock has been initiated with a Buy rating by Nuvama Institutional Equities, with a target price of Rs 1,870 (17% upside). The brokerage highlighted that the company is a clear leader across most key product categories, which together contribute about 90% of its revenue. It holds strong market shares in large segments such as washing machines at 34%, refrigerators at 30%, room air conditioners at 18% and panel TVs at 28%.

The stock has been initiated with a Buy rating by HSBC, with a target price of Rs 350 per share (17% upside). The brokerage expects the company’s capacity to expand significantly, with ongoing projects likely to increase overall capacity by 2.7 times over the next two to three years. In addition, ACME has a further 1.8 GW of awarded projects that are yet to be converted into power purchase agreements.


(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)