Nuvama Top Picks to BUY: At a time when the Indian stock market is going through a tough phase, brokerage firm Nuvama Wealth Management has reiterated BUY calls on select stocks across sectors. These stock recommendations indicate upside potential of up to 16 per cent from current levels.
Alkem Laboratories Share Price Target
Nuvama Wealth Management upgraded Alkem Laboratories to BUY from Hold, with a revised target price of Rs 6,270 compared with Rs 5,800 earlier. The target price implies an upside potential of 12.3 per cent from the current market price.
The brokerage highlighted that Q4FY26 EBITDA margin and PAT missed estimates due to higher R&D, finance and tax costs. However, it said growth prospects remain strong, supported by CDMO and MedTech opportunities in India.
The brokerage also flagged relief from revised tax guidance and raised its FY27 EPS estimate by 11 per cent.
Sky Gold and Diamonds Share Price Target
Nuvama maintained its BUY rating on Sky Gold and Diamonds, while raising the target price to Rs 575 from Rs 472 earlier. The revised target suggests an upside of around 9 per cent.
The brokerage highlighted strong revenue growth driven by robust wedding and festive demand, along with improving margins due to a higher contribution from advanced gold products.
Ashok Leyland Share Price Target
Nuvama maintained its BUY rating on Ashok Leyland with a target price of Rs 182. The brokerage’s target indicates an upside potential of over 16 per cent for the stock.
The brokerage expects MHCV growth momentum to moderate but remain positive, while increasing focus on EVs is seen supporting long-term growth.
PG Electroplast Share Price Target
Nuvama maintained its BUY rating on PG Electroplast, although it reduced the target price to Rs 550 from Rs 650 earlier. The revised target still reflects an upside of over 13.5 per cent.
The brokerage noted that West Asia tensions and raw material inflation weighed on quarterly performance.
However, compressor manufacturing is expected to begin in FY27, while room AC demand is projected to increase from around 11 million units in FY24E to 25 million units by FY29.
Sumitomo Chemical India Share Price Target
Nuvama also maintained a BUY rating on Sumitomo Chemical India, with a slightly lower target price of Rs 571 compared with Rs 575 earlier. The target implies an upside potential of 13.7 per cent.
The company’s results came in ahead of estimates, supported by a richer product mix and discontinued operations of the AND business. Despite industry headwinds, performance remained strong, aided by new product launches driving speciality growth and long-term capex visibility.
