Several brokerages have identified 10 largecap stocks in India with significant upside potential despite rising oil prices from the US-Iran war. Crude oil has surpassed $125 per barrel, fueling inflation fears and market uncertainty. Stocks like HDFC Bank and Bharti Airtel top the lists from firms including Jefferies and Axis Direct.
The recent US-Iran war has driven crude oil prices above $125 per barrel, reigniting inflation concerns amid heightened geopolitical risks and energy cost pressures. Brokerages remain optimistic about select largecap stocks poised for meaningful returns in this environment, as noted in analyses from Axis Direct, Morgan Stanley, and Jefferies. HDFC Bank leads Jefferies' top picks with a target price of Rs 1,050, implying 35% upside from current levels, supported by improved deposit growth of 14% and loan growth of 12% alongside operating synergies. ICICI Bank also features with a Rs 1,670 target for 32% upside, expecting 15% loan growth from FY27. Axis Bank has seen increased weighting due to low valuations near Covid levels and potential government support, with shares up 8% over the past year. Bharti Airtel carries a Rs 2,266 target from Axis Direct for 20% upside, driven by 5G premiumisation and strengthening free cash flow. Kotak Mahindra Bank targets Rs 500 for 30% upside, backed by double-digit credit growth in SME and retail segments. Fortis Healthcare eyes Rs 1,050 for 14% upside as margins hit 23% through FY23 to 9MFY26, aided by new bed additions. Bajaj Finance and State Bank of India also feature with 22% and 26% upside potentials respectively, while Morgan Stanley rates Maruti Suzuki overweight at Rs 17,895 for 35% upside and L&T overweight after a 21% yearly gain. (248 words)
