In this weak environment, three well-known brokerages have stuck to their buy ratings on three large companies in the Indian stock market, suggesting potential upside between 45% and 54% from current prices. These targets are built on assumptions about future earnings, valuations, and business performance, which means they are informed estimates and not guaranteed returns.
Why Brokerages Are Still Positive Despite the Fall
The latest calls, reported by the Financial Express, come from three different research houses and cover three very different sectors: oil and gas, real estate and pharmaceuticals. Each recommendation rests on company-specific triggers rather than the overall mood of the market, which is why analysts remain comfortable holding a positive view even while the benchmark indices are under pressure.
ONGC Offers the Highest Potential at 54%
Kotak Institutional Equities has retained its buy rating on Oil and Natural Gas Corporation with a fair value of ₹355 per share, which implies an upside of nearly 54%. The brokerage expects the company’s production outlook to improve over the medium term, and it sees ONGC’s western offshore partnership with BP as an important part of that picture. Kotak believes this tie-up could help keep production broadly stable over the next ten years.
DLF Gets a ₹1,000 Target From Axis Capital
Axis Capital has also given DLF a buy rating, setting a target price of ₹1,000, which points to a possible rise of about 49% from the current level. This view comes even though housing activity in the National Capital Region cooled in August and absorption levels declined. The brokerage noted, however, that steady demand in bigger cities is still supporting the broader housing market, and that appears to be the main reason it has not turned cautious on the stock.
Nomura Sees 45% Upside in Dr Reddy’s
Nomura has maintained its buy rating on Dr Reddy’s Laboratories with a target price of ₹1,740, indicating a gain of roughly 45%. The brokerage is closely watching two upcoming milestones for the drugmaker: approval from the US Food and Drug Administration for its biologics facility and clearance for its biosimilar abatacept. If both approvals arrive, Nomura expects the company to launch abatacept in more than 50 countries in the first phase, which could open up a meaningful new revenue stream.
What Investors Should Keep in Mind
Brokerage targets can change quickly if earnings disappoint or if conditions in the market, the sector, or the company shift. Investors would do well to treat these figures as one input among many and to check the fundamentals themselves before acting.
Disclaimer: All the information provided in this article is for educational and infomational purposes only. DateUpdateGo always advises seeking guidance from a certified financial advisor before making any investment-related decisions.
