Groww, LG India, Orkla among 10 stocks with fresh brokerage interest for upto 41% rise

Select stocks like Gravita India, LG Electronics India, Bluestone Jewellery & Lifestyle, Granules India, Jain Resource Recycling, Canara HSBC Life Insurance, Billionbrains Garage Ventures (Groww), Corona Remedies, Orkla India, Flair Writing Industries have seen fresh interest from the various brokerage firms, who have recently initiated their coverage on these companies.

The host of brokerages including JM Financial, YES Securities, Systematix Institutional Equities, Elara Capital, Motilal Oswal Financial Services, Antique Stock Broking, JP Morgan, Citi, PL Capital. All stocks have positive ratings on them with an upside potential of 20-40 per cent. Here's what brokerage said on these stocks:
 

JM Financial on Gravita India
Rating: Buy | Target Price: Rs 2,010 | Upside Potential: 34%
Gravita India is India’s largest organised recycling company with a diversified presence across lead, aluminium, plastics and rubber, and an expanding footprint in emerging recycling verticals. Gravita’s clearly defined capacity expansion roadmap provides strong multi-year visibility on volume-led growth, said JM Financial.

"Its installed recycling capacity is currently 426ktpa and is targeted to exceed 700ktpa by FY28E. We estimate revenue/adjusted EBITDA/PAT to compound at 23 per cent/25 per cent/24 per cent over FY25–28E. We are initiating coverage on Gravita India with a 'BUY' and target price of Rs 2,010 based on 25 times FY28E P/E," it added.
 

YES Securities on LG Electronics India
Rating: Buy | Target Price: Rs 1,810 | Upside Potential: 18%
We expect revenue/EBITDA/PAT growth of 13 per cent/18 per cent/19 per cent, respectively over FY26-FY28E. LG is expected to maintain its double-digit EBITDA margin despite heightened competitive intensity and RM volatility as LG has a higher share of premium products, increased localization and backward integration will result in higher operating efficiencies.

"We stay bullish on the RAC and the home appliances space in the medium term led by factors like strong realty-infused demand, recent GST rate cuts, growing share of the organized sector, and Govt impetus towards manufacturing and export boost. Its enviable value prop and increased exports should help it outperform the industry in good times," it added with a 'buy' and a target price of Rs 1,810.
 

Systematix Institutional Equities on Bluestone Jewellery & Lifestyle
Rating: Buy | Target Price: Rs 644 | Upside Potential: 35%
Bluestone Jewellery and Lifestyle has built its franchise squarely around this transformation, having derived nearly two-thirds of its revenue from diamond-studded jewellery. Unlike commoditized gold retailing, studded jewellery enables brand differentiation, pricing power, and superior gross margin return on inventory, said Systematix Institutional Equities.

"Bluestone positioning seems structurally advanced to benefit from increased organized penetration and as younger consumers prioritize ‘jewellery for the wardrobe’ over ‘jewellery for the locker’. We initiate coverage on the stock with a 'buy' rating and target price of Rs 644, based on 30 times Mar 2028E preInd AS Ebitda," it adds.
 

Elara Capital on Granules India
Rating: Buy | Target Price: Rs 775 | Upside Potential: 38%
Granules India is an integrated pharma manufacturer with capabilities across APIs, PFIs, and finished dosages, with strong presence in regulated markets, particularly the US. Backward integration, cost efficiency, and scale economics underpin Granules competitive positioning, while increasing contribution from low-competition products is structurally improving the quality of the business, said Elara.

"Remediation of regulatory issues at Gagillapur plant is likely in the near-term. Additional capacity commissioned at Genome Valley plant will also support growth. We project mid-high-teen topline growth with 100bps Ebitda margin expansion for GRAN over the next two years. We initiate coverage with 'buy' and a target price of Rs 775," it said.
 

Motilal Oswal Financial Services on Jain Resource Recycling
Rating: Buy | Target Price: Rs 520 | Upside Potential: 24%
Jain Resource Recycling is one of India’s largest non-ferrous metal recyclers. It operates an integrated platform capable of processing multiple materials at a single location with a total capacity of 287K MT. The group has evolved into a leading recycling enterprise with diversified capabilities across lead, copper, and aluminum, said Motilal Oswal Financial Services.

"We expect Jain Resource to deliver a CAGR of 36 per cent/48 per cent/56 per cent in revenue/EBITDA/PAT over FY25- 28, driven by an increase in capacity of its core products, expansion of its global presence, entry into antimony, and higher value-added copper products. We value the stock at 21 times FY28E, EPS of Rs 24 to arrive at our target price of Rs 520," it added with a 'buy' tag.
 

Antique Stock Broking on Canara HSBC Life Insurance Company
Rating: Buy | Target Price: Rs 190 | Upside Potential: 31%
Canara HSBC Life Insurance (Canara Life) has emerged as one of the fastest growing private life insurance companies with FY15-25 and YTDFY26 individual WPI CAGR of 21 per cent and 20 per cent, respectively versus industry growth of 10-11 per cent. Its individual WPI market share rose to 2.9 per cent in YTDFY26. VNB margins expanded sharply 200bps YoY to 19.7 per cent, said Antique Stock Broking.

"It expects to sustain industry leading growth in the medium term given significant penetration scope in both its key banca partners Canara Bank and HSBC, and via setting up a new agency channel. The stock currently trades at an attractive valuation. We initiate coverage on Canara HSBC Life with 'buy'  rating and a DCF-based target price of Rs 190, implying 1.8 times FY28E P/EV," it said.
 

JP Morgan on Billionbrains Garage Ventures (Groww)
Rating: Overweight | Target Price: Rs 210 | Upside Potential: 41%
Groww is India’s leading digital investment platform, which has disrupted broking with its digital-first approach and achieved market leadership measured on number of users. With consumer friendliness as its core design principle, Groww has captured share among new-to-investing users and displayed a remarkable ability to cross-sell services, said JP Morgan.

"Groww enjoys market leadership in one of the largest and most lucrative profit pools in investment services across cash, derivatives, MF and associated margin trading and lending products. We expect a 33 per cent revenue CAGR and 36 per cent Ebitda/PAT CAGR over FY26-28, helped by underlying market growth and cross-selling of new products," it said with an 'overweight' rating and a target price of Rs 210.
 

JM Financial on Corona Remedies
Rating: Buy | Target Price: Rs 1,866 | Upside Potential: 20%
We project Corona to clock revenue/EBITDA/PAT CAGR of 16 per cent/21 per cent/28 per cent over FY26–28E. Margin is expected to expand from 21 per cent in FY26 to 23.1% by FY28. Despite ongoing capacity expansion and growth investments, it maintains 20 per cent and RoICs and 67 per cent FCF/EBITDA conversion over FY26-28E, said JM Financial.

"Given its superior growth trajectory, strong profitability profile, robust fundamentals including healthy RoCE and cash generation, and credible management, we assign a 35 times PE multiple to arrive at a target price of Rs 1,866 and initiate coverage with a 'buy' rating," it added.
 

Citi on Orkla India
Rating: Buy | Target Price: Rs 750 | Upside Potential: 35%
Orkla India is a key F&B player operating across pure & blended spices and convenience packaged food ready to cook (RTC), ready to eat (RTE), categories under brands MTR and Eastern. Margin expansion to be driven by favorable product mix and operational efficiencies, said Citi, which has 'buy' rating on the stock with a target price of Rs 750.

"It is the market leader in spices in Karnataka & Kerala and has strong position in Andhra Pradesh and Telangana driven by hyper-local brand building, deep distribution and culturally resonant products. Our constructive view is underpinned by strong category tailwinds, market leadership in South India, and effective execution of portfolio expansion & channel diversification," it said.
 

PL Capital on Flair Writing Industries
Rating: Buy | Target Price: Rs 750 | Upside Potential: 27%
Flair has a competitive edge over peers stemming from superior brand recall; cost competitiveness arising from captive manufacturing capabilities of pens, steel bottles & creatives;  diversification advantage beyond the core stationery segment into lifestyle categories like steel bottles & houseware; and unparalleled distribution reach with 3,30,000 retail touch points, said PL Capital.

"Flair is one of the largest pen brands in India with an indicative domestic market share of 16 per cent as of FY25. Backed by the ongoing expansion plan at Valsad for writing instruments and stationery entailing a capex of Rs 80-90 crore, we expect revenue/Ebitda/PAT CAGR of 13 per cent/15 per cent/16 per cent over FY26E-28E," it said with a 'buy' rating and a target price of Rs 413.