SRF, Welspun Living among 12 midcap picks by Systematix Research with upside potential of up to 53%

Brokerage firm Systematix Research anticipates healthy year-on-year momentum across the Indian speciality chemicals sector during Q3FY26, supported by volume-led growth and the commercialisation of strategic capex projects. While pricing in some segments may remain range-bound, companies like SRF are expected to benefit from a seasonal uptick in refrigerant and speciality chemical volumes.

However, blended margins may still face pressure due to weakness in technical textiles. Based on its comprehensive sector view, Systematix has released its updated ratings and target prices for a range of midcap names across speciality chemicals, textiles, and diversified industries. Here are the top 12 midcap picks from the report, with upside potentials of up to 53%.

Aarti Industries has been assigned a ‘HOLD’ rating with a target price of Rs 429, reflecting an upside potential of 18.5%.

With a target price of Rs 6,557, Atul carries a ‘HOLD’ recommendation from Systematix, offering an upside potential of 9%.

The brokerage sees potential in Deepak Nitrite, rating it as ‘HOLD’ with a price target of Rs 1,779 and an upside potential of 13.75%.

A target of Rs 6,199 has been set for Navin Fluorine, which comes with a ‘HOLD’ rating and implies an upside of 2.8%.

SRF is rated ‘HOLD’ by the brokerage, which values the stock at a target of Rs 3,295, indicating an upside potential of 8.75%.

Vinati Organics is expected to rise to Rs 1,599 as per Systematix’s target, though the stock holds a ‘HOLD’ rating, suggesting an upside of 0.35%.

Systematix has kept a ‘HOLD’ stance on KPR Mill, estimating a fair value of Rs 1,030 with an upside potential of 20%.

Gokaldas Exports has been rated ‘HOLD’, with a target price pegged at Rs 914, pointing to an upside of 52.7%.

For Vardhman Textiles, the brokerage recommends a ‘BUY’, forecasting a target of Rs 506 and suggesting an upside potential of 20.2%.

Welspun Living has been issued a ‘BUY’ call with a projected target of Rs 160, indicating scope for upside of 27%.

A ‘BUY’ rating is in place for EPL, with a target price of Rs 301, hinting at an upside potential of 48.4%.

Praj Industries has been tagged with a ‘HOLD’ rating and a price target of Rs 342, which implies an upside potential of 11.3%.

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