Bank of Baroda, Jindal Steel, Ratnaveer Precision: 3 stock to buy for up to 70% upside

Indian stock markets have seen a smart recovery lately, leaving investors with limited opportunities to make smart money. However, select brokerage firms including SMIFS and SMC Global Securities have suggested three fundamentally strong stocks including Bank of Baroda, Jindal Steel and Ratnaveer Precision Engineering for up to 70 per cent upside potential. Here's what brokerage firms say about these stocks:

 

Bank of Baroda | Buy | Target Price: Rs 303 | Upside Potential: 15%

Bank of Baroda is one of India's leading public sector banks, established in 1908 and headquartered in Vadodara, Gujarat. It operates a vast network of over 8,000 domestic branches and international presence in 17 countries, serving retail, corporate, MSME, agriculture, and international banking segments. The business of the bank has increased 11 per cent YoY to Rs 26,42,691 crore by June 2025, driven by 13 per cent surge in advances to Rs 12,07,056 crore. Deposits rose 9 per cent to Rs 14,35,634 crore at end June 2025. The bank outlook remains positive with robust asset quality and digital push which is driving growth, enhancing operational efficiency and expanding customer reach. The bank has full year NIM at 2.85-3 per cent, supported by expected 15-17 bps deposit cost reduction. Advances and deposits growth are targeted in the range of 11 to 13 per cent and 9 to 11 per cent respectively. Thus, it is expected that the stock may see a price target of Rs 303 in 8 to 10 months time frame.

Recommended by: SMC Global

 

Ratnaveer Precision Engineering | Buy | Target Price: Rs 255 | Upside Potential: 70%

Ratnaveer Precision's (RPEL) capex-led expansion, foray into new product line to address rising demand in the economy, provide clear visibility for sustained earnings growth. The company’s Phase I capex of Rs 45.94 crore is set to expand production capacity from 41,000 MTPA to 53,194 MTPA, alongside a 4 MW rooftop solar power plant that will significantly reduce power and fuel expenses. These measures are expected to enhance operating efficiency and lift EBITDA margins from FY26 onwards. Building on this, the Phase II capex of Rs 67.68 crore will introduce high-margin fasteners and circlips, further diversifying RPEL’s product mix and improving realizations. By FY28 the company expects to expand the capacity to ~74,000 MTPA. The backward-integrated steel melting facility and renewable power integration will strengthen cost competitiveness, ensuring steady margin expansion. The upcoming capacity additions, improved product mix, and strong export focus in North America, Southeast Asia, and Latin America are po

Recommended by: SMIFS

 

Jindal Steel | Buy | Target Price: Rs 1,141 | Upside Potential: 13%

Jindal Steel is an integrated steel producer that operates on a robust mine-to-metal model, leveraging captive resources, advanced manufacturing capabilities, and a global distribution network. With state-of-the-art facilities in Angul (Odisha), Raigarh (Chhattisgarh), and Patratu (Jharkhand), the company has a diversified product portfolio catering to infrastructure, construction, automotive, oil & gas, and real estate sectors. Its strategic expansions, including the Angul facility’s rise to 12 MTPA, captive resource integration, and focus on value-added products, ensure cost efficiency and revenue stability. Despite near-term challenges like seasonal demand weakness and global price pressures, early indicators of demand revival in Q2 FY26, particularly in construction and infrastructure, suggest a potential recovery in sales volumes. Thus, it is expected that the stock may see a price target of Rs 1,141 in 8 to 10 months time frame.

Recommended by: SMC Global