Adani Power, Suzlon Energy, Tata Steel: Up to 127% rise from 52-week lows - Buy?

Adani Power Ltd, Cummins India Ltd, Shriram Finance Ltd, Hindalco Industries Ltd and The Federal Bank Ltd are among top largecap stocks that have soared up to 127 per cent from their 52-week lows. Tata Steel Ltd, AU Small Finance Bank Ltd and Suzlon Energy Ltd are some other BSE100 stocks delivering solid returns from their one-year lows.  

Adani Power Ltd
In the case of Adani Power, the scrip has jumped 127 per cent over its 52-week low of Rs 101.06 hit on May 9 last year. ICICI Securities in a fresh report said Adani Power has tied up almost all of its operational capacity with PPAs and has signed 14GW out of 23GW of under-construction capacity with PPAs at attractive tariffs. State DISCOMs, it noted are in the process of floating new PPAs for 13GW capacity. As a result, it expects new tenders from state DISCOMs to improve the outlook for untied capacity. 
With a shrinking merchant footprint, it expects improved earnings in FY27. That said, the stock price has seen a sharp run-up recently, following which the brokerage has downgraded the stock to 'Add' from 'Buy' with a target of Rs 233.  

Cummins India Ltd
In the case of Cummins India, the scrip has jumped 100 per cent over its 52-week low of Rs 2,701.65 hit on May 9, 2026. Geojit on Thursday suggested a 'Buy' on the stock with a target of Rs 6,160, hinting at double digit returns. 

Its said Cummins India has re-rated sharply over the past five years, driven by consistent earnings growth, strong return ratios, and its leadership in mission-critical power solutions. 

"While growth moderated in FY25 due to demand normalisation and export softness, the medium-term earnings outlook remains supported by PowerGen scaleup supported by data center growth, export recovery, and a resilient, high-recurring Distribution business," it said.

Shriram Finance Ltd
Shriram Finance has seen its shares rallying 79 per cent over its August 2025 low of Rs 1,108.

Analysts said Shriram Finance Ltd is well positioned to emerge as a dominant leader in the NBFC space, underpinned by structurally superior profitability and robust operational scale. Nuvama Wealth Management suggested a ‘Buy’ on the stock with a target price of Rs 1,300. It expected re-rating benefits from margin pickup, better growth opportunities and improvement in the AUM mix. HDFC Securities said Shriram Finance’s Q4FY26 earnings were largely in line with estimates. With equity capital infusion by Mitsubishi UFJ Financial Group completed in April, the brokerage believed Shriram Finance was geared to drive higher loan growth, led by the new CV segment and a continued focus on customer retention.

Hindalco Industries Ltd 
Hindalco is a consensus 'Buy' with 12 buy or strong buy calls, 10 'Hold' calls and five sell or strong sell calls, as per Trendlyne. This stock is up 75 per cent from its 52-week low. 

Hindalco is yet to announce its quarterly results. Ahead of its results, Systematix suggested 'Hold' on the stock with a target of Rs 1,007. All eyes would be on the impact of West Asia conflict on businesses in US and Europe. India expansion plans and capex guidance, reinstatement of Novelis Ebitda/t guidance will also be keenly followed, it said.

"Overall, given higher LME prices, better volumes sequentially and rupee depreciation, we have marginally increased our estimates but downgrade our rating on the stock to “Hold” with a revised target price of Rs 1,100 (from earlier Rs 1,065), valuing the stock at 6.5 times FY28E EV/Ebitda, given the stretched valuations," B&K Securities said in a recent not.

The Federal Bank Ltd.
Federal Bank shares are up from their last year's low of Rs 301.75. JM Financial said Federal Bank reported a largely steady March quarter. It continue to build in 15 per cent loan growth for the bank over FY26–28, compounded annually. That said, given the average 11 per cent return on equity and 1.2 per cent return on asset against current valuation of 1.4 times FY28 book value, it sees limited room for further re-rating from current levels. 
"We believe the risk-reward has turned less favourable and, accordingly, downgrade the stock to REDUCE (from ADD earlier) with an unchanged TP of INR 290, valuing it at an unchanged 1.4x FY28E BVPS," JM said on April 30.

Tata Steel Ltd.
The Tata Steel stock is up 55 per cent from its 52-week low. MOFSL said driven by safeguard duty-led price hikes, Tata Steel’s domestic business should deliver a better performance in the near to medium term. With imports declining after the duty, domestic steel players could see strong volume, it said. 

"Given its ongoing capacity expansions, Tata Steel is well placed to capitalize on the longer-term opportunity. A gradual turnaround in the EU business, driven by regulatory tailwinds and cost-saving measures, should support the company’s consolidated performance," it said. It maintained 'Buy' rating with a target of Rs 250 on FY28 estimate," it said.

AU Small Finance Bank Ltd.
For AU SFB, ICICI Securities said a risk-averse approach in the MFI and unsecured personal loan segments, combined with strategic initiatives to curb incremental stress, has driven a steady improvement in asset quality over the last four quarters. Reflecting this trend, the gross slippage ratio moderated to sub-2 per cent for AU SFB in Q4FY26, while credit costs fell below 1 per cent for the first time post-merger. Looking ahead, the management has guided for credit costs to remain lean at 90bps in FY27, improving upon the 1 per cent reported in FY26. The brokerage upgraded the stock to 'Buy' from 'Hold' and suggested a target of Rs 1,250. This stock is up 54 per cent from its 52-weel low. 

Suzlon Energy Ltd
Suzlon shares are up 46 per cent from 52-week low. Ambit Capital on April 17 initiated coverage on Suzlon Energy with a 'Buy' rating and a target of Rs 60. It expects sustained 6-8GW annual WTG demand through FY32, led by RE-RTC/FDRE tenders where wind complements
solar. It sees installations exceeding 10GW beyond FY32, with wind’s share in generation rising from 6 per cent to 8 per cent/15 per cent by FY32/47. The brokerage is factoring in Suzlon’s market share increasing from 32 per cent (till FY25) to over 40 per cent from FY27, supported by turnkey capabilities and reduced Chinese OEM price advantage after ALMM. 

JM Financial, which has a target of Rs 64 on the stock said "In recent quarters, Suzlon has been struggling with increasing deliveries/ installations gap. We expect it to report a sharp uptick in commissioning in H1FY27, resulting in cash flow improvement and revival of order inflows," JM said.