Brokerages have started coverage on three Indian companies with positive ratings projecting returns of 16 to 24 percent.
Kirloskar Oil Engines carries a price target that implies a 24 percent upside.
APL Apollo Tubes is viewed as a strong player in building materials.
Union Bank of India is assigned a 16 percent potential return.
These recommendations point to significant future growth prospects for the three firms.
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.
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Shares of Motilal Oswal Financial Services rose sharply on Friday after UBS started coverage with a buy rating and a target price of Rs 1,150. The move came on expectations of strong growth in assets under management and recurring revenue.
Global fund managers are reconsidering exits from Indian stocks as falling oil prices and rupee stabilization reduce key concerns. Daily foreign selling has slowed while inflows into India-focused ETFs have turned positive. Analysts note that attractive valuations could support a market rerating if earnings growth holds.
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More than a dozen companies are preparing to raise around ₹45,000 crore through initial public offerings in July. The offerings are expected to mark a strong return for India's primary market after a quieter period.