IRCTC: Target price: Rs 900
Leading the list is IRCTC, for which Macquarie has set a 12-month target price of Rs 900, with an expectation of further long-term upside.
Uno Minda: Target price: Rs 1,157
Uno Minda is another top pick in this category, with a target price of Rs 1,157. Macquarie is bullish on the company’s diversified revenue mix and its wide-ranging auto components portfolio, which positions it well to ride the momentum in the automotive sector.
Aditya Birla Capital (AB Capital): Target price: Rs 260
AB Capital is considered one of Macquarie’s strongest ideas in the pack. The brokerage expects the stock to double in value over the next three years, with a 12-month target of Rs 260.
Devyani International: Target price: Rs 215
Devyani International, a key player in the quick-service restaurant space, is expected to benefit from rising discretionary incomes and a consumption rebound. Macquarie has a target price of Rs 230 on the stock.
Delhivery: Target price: Rs 380
Delhivery, with a target of Rs 380, is expected to capitalize on the revival in logistics demand and its focus on scale and efficiency.
Lemon Tree Hotels: Target price: Rs 210
Lastly, Lemon Tree Hotels, with a target of Rs 160, is seen as a beneficiary of the ongoing tourism recovery and higher occupancy rates across its properties.
Alongside these high-growth plays, Macquarie has reiterated confidence in six “Star” stocks as core holdings over a 12–24 month horizon.
Here are Macquarie’s long-term core holdings: 6 star stocks
These include TCS, with a target price of Rs 5,620, HDFC Bank, with a target of Rs 2,300 and Sun Pharmaceutical with a target price of Rs 2,100. This is followed by stocks like Mahindra & Mahindra (target: Rs 3,643), Trent (Rs 7,000), and Power Finance Corporation (Rs 660). Notably, Macquarie has initiated coverage on Trent, believing that it is well-positioned to emerge as a leading fashion retailer in India and across Asia.
For investors with a shorter investment horizon, Macquarie has also highlighted six tactical ideas with 6-month upside potential.
6 tactical opportunities: Short-term buys
Reliance Industries leads the group with a target of Rs 1,500, followed by NTPC with Rs 475, and Wipro with Rs 320.
Tata Motors is rated “Outperform” with a target of Rs 826. The brokerage notes confidence in Jaguar Land Rover’s net cash balance position by March 2025 as a key near-term driver.
Meanwhile, Bharat Electronics (BEL), with a target price of Rs 350, and Shriram Finance, with a target price of Rs 800, round out the tactical picks, both expected to deliver double-digit returns in the short term.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
