Hot Stocks: 3 stocks that may give returns between 19-34%

Brokerages initiated coverage on Adani Ports, Welspun Corp and Wakefit Innovations with buy ratings. Their price targets imply returns of 19% to 34% based on Thursday’s closing price.

ADANI POWER

BROKERAGE: MOTILAL OSWAL FINANCIAL SERVICES

Price Target: Rs 250


CMP: Rs 209.80 | Upside: 19%

See company as natural winner of India's upcoming thermal capacity build-out.

Valuation premium over peers, NTPC and JSW Energy, is a function of superior capital allocation and strong growth trajectory.

Read more: Banks offer semi-fixed loans to deploy surplus liquidity

WELSPUN CORP

BROKERAGE: JEFFERIES

Price Target: Rs 3,250

CMP: Rs 2,646.15 | Upside: 22.8%

Positioned to benefit from a multi-year upcycle in oil & gas infrastructure spending in US and the Middle East.

Premium valuation is justified by strong earnings growth outlook, robust order book, and high ROEs.

WAKEFIT INNOVATIONS

BROKERAGE: NOMURA

Price Target: Rs 200

CMP: Rs 149.45 | Upside: 33.8%

Attractive valuation of 40 times and 29.5 times FY28 and FY29 Price to Earnings Estimates; risk-reward looks favourable.

Expansion into the home furniture segment, where the Total Addressable Market (TAM) is higher than peers, improves the long-term growth visibility.