Motilal Oswal Financial Services‘ Head of Research, Wealth Management, Siddhartha Khemka, has picked Titan and Rubicon Research as his top investment ideas, seeing nearly 20% upside in both stocks amid improving market sentiment and resilient corporate earnings.
Khemka remains positive on Titan despite a softer-than-expected jewellery quarter, saying its strong business performance continues to support its long-term growth story. He pointed to strong same-store sales growth, a rising contribution from studded jewellery and good performance from the watches business.
While Titan trades at a premium valuation of about 55 times 2027-28 (FY28) earnings, Khemka believes its market leadership, strong margins and sustained growth justify the valuation. Motilal Oswal has a target price of ₹5,700 on the stock.
His second pick is Rubicon Research, which reported strong quarterly numbers, with revenue growing 40%, earnings before interest, taxes, depreciation and amortisation (EBITDA) rising 53% and net profit increasing 68%.
“Revenue growing 40%, EBITDA increasing 53%, and net profit up 68%,” Khemka said, adding that strong R&D productivity provides visibility for sustained earnings growth. The brokerage has raised its earnings estimates and expects the commercialisation of three new plants to support the business. It has a target price of ₹2,100, implying around 20% upside.
The stock recommendations come as Khemka sees the broader mood in Indian markets improving. Falling crude oil prices, renewed foreign investor buying and resilient corporate earnings have helped lift sentiment.
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Titan and Rubicon Research can yield 20 upside, says MOFSL’s Siddhartha Khemka
Foreign Institutional Investors (FIIs) have invested nearly ₹35,000 crore over five trading sessions, according to Khemka, while crude oil prices have fallen below $100 a barrel. “The domestic corporate earnings is showing a sign of recovery, and valuations, at least in the largecap space and some of these midcap names, are comfortable,” he said.
Khemka expects largecap stocks to lead the next phase of market performance, while opportunities in mid and smallcap stocks are likely to remain selective.
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