Eternal, ICICI Bank, DMart among 9 largecap stocks with up to 34% upside. See full list

Domestic brokerage firm Axis has pegged the Nifty target for December 2026 at 27,220, an upside of 13% from current levels. It says the Indian economy remains well-positioned for sustained growth, acting as a relative safe haven amid global economic volatility. Here are 9 largecap stocks that the brokerage is bullish on.

Axis has set a price target of Rs 1,160, a 15% upside from current levels. The company is one of India’s largest NBFCs for consumer finance, with a wide product portfolio comprising loans for two-wheelers, consumer durables, housing, and small businesses, among others.

With a price target of Rs 5,270, the brokerage implies an upside potential of 34.5%. D-Mart is a one-stop supermarket chain that aims to offer customers a wide range of basic home and personal products under one roof. Since the launch of its first store in Powai in 2002, DMart has established a strong presence with 502 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab, and Rajasthan.

With a price target of Rs 2,530, the brokerage has implied an upside potential of 31% from current levels. It is an Indian multinational telecommunications company operating in 18 countries across South Asia, Africa, and the Channel Islands. It is India's second-largest telecom operator, boasting a strong domestic presence and a comprehensive digital services portfolio that includes fibre optic networks, mobile and desktop telephony, and other digital solutions.

With a target price of Rs 1,700, the brokerage implies an upside potential of 21% from current levels. The lender is supported by a strong liability franchise and a healthy retail corporate mix. The bank’s subsidiaries, such as ICICI Venture Funds, ICICI Pru AMC, ICICI Securities, ICICI Prudential, and ICICI Lombard, are among the leading companies in their respective domains.

With a target price of Rs 360, the brokerage implies an upside of 26% from current levels. The company has an asset-light business model based on aggregating demand and supply while enabling efficient last-mile logistics, creating strong network effects, and high user engagement. It consists of four major businesses, namely Zomato, Blinkit, District, and Hyperpure.

With a target price of Rs 630, the brokerage implies an upside of 34% from last close. VBL is a key player in the global beverage industry and the second-largest franchisee of PepsiCo worldwide (outside the US), with operations across 10 countries under franchise rights and an additional 4 countries under distribution rights.

With a target price of Rs 500, Axis predicts an upside of 32% from current levels. It is one of India’s leading diversified financial services groups, offering a broad range of solutions across customer segments and geographies. It serves retail customers (including salaried and self-employed), small businesses, NRIs, institutions, and government entities, supported by a strong focus on convenience, innovation, and digital-first offerings.

With a price target of Rs 1,815, Axis forecasts an upside of 19% from current levels. The company is the market leader in India across major home appliances and consumer electronics. The company holds leadership positions across several key product categories, including washing machines, refrigerators, panel televisions, inverter air conditioners, and microwave ovens.

The brokerage has pegged the target price at Rs 1,640, an upside of 15.3% from current levels. Nestlé India manufactures and markets a wide range of food and beverage products, including milk and milk products, coffee, tea, noodles, chocolates, confectionery, and infant nutrition. Some of its popular brands in India include Maggi, Nescafé, KitKat, MilkyBar, and Nestle Everyday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)