Top stocks to buy: Navin Fluorine, Manappuram, Delhivery- Up to 24% upside | Target prices

Amid the rising volatility in the broader markets on back of feeble global and domestic cues, domestic brokerage firm SMC Global Securities has suggested four stocks including Manappuram Finance Ltd, Delhivery, Elgi Equipments and Navin Fluorine International Ltd to make decent gains in the short term. The former two are based on strong technical charts, while the latter two have sound fundamentals. Here's what brokerage firm has to say on these stocks:
 

Manappuram Finance | Buy | Target Price: Rs 335-336 | Stop Loss: Rs 280

Manappuram Finance is exhibiting a transition from consolidation to potential trend resumption on the daily chart. The stock formed a well-defined base in the Rs 250–270 zone, indicating accumulation after a corrective phase. Prices have since moved above the key moving average, reflecting improving trend structure. Currently, the stock is forming a symmetrical triangle on the right shoulder of the base, with higher lows suggesting building buying pressure. The immediate resistance is placed near Rs 300, and a decisive breakout above this zone could trigger fresh momentum. Therefore, one can take a conditional buy into a stock above the breakout level of Rs 300 levels with the expected upside of Rs 335-336 levels with stop loss below Rs 280 levels.
 

Navin Fluorine International | Buy | Target Price: Rs 7,751 | Upside: 14%

Navin Fluorine manufactures  and supplies high-performance products (HPP/refrigerants), specialty chemicals, and CDMO services, with a growing focus on advanced materials for electronics, semiconductors, and related high-tech applications. The company operates through facilities in India and serves global markets in agrochemicals, pharmaceuticals, refrigerants, and emerging sectors like data centers and semiconductors. Navin Fluorine is well-positioned for sustained growth driven by strong capex pipeline, improving product mix, and expansion into high-value segments like CDMO and advanced materials. With structural margin improvement, and participation in emerging themes such as semiconductors and AI-driven applications, the company has sustained business growth ahead. It is expected that the stock may see a price target of Rs 7,751 in 8 to 10 months.
 

Delhivery | Buy | Target Price: Rs 525-530 | Stop Loss: Rs 475

Delhivery Ltd is exhibiting a steady recovery trend on the daily chart, followed by a tight consolidation near higher levels, indicating strength rather than exhaustion. It has formed a rectangular range between Rs 450–480 after a sharp up move, suggesting a classic continuation pattern. This sideways movement reflects absorption of supply, with prices holding firmly above the key moving average. Importantly, the structure shows higher lows within the consolidation, pointing to underlying buying interest. Momentum indicators remain supportive, with RSI holding in bullish territory. A decisive breakout above Rs 475 could trigger fresh upside. Therefore, one can take a conditional buy into a stock above the breakout level of Rs 475 for the expected upside of Rs 525-530 levels with stop loss below Rs 445 levels.
 

Elgi Equipments | Buy | Target Price: Rs 684 | Upside Potential: 24%

Elgi Equipments Ltd is a global air compressor manufacturer with diversified end-industry exposure, positioning compressors as a utility-like product, reducing cyclicality. It follows a long-term 'manufacturing pride of ownership' strategy backed by 25 years of investment in quality and engineering. Its model includes selective backward integration to enhance supply chain control and reliability rather than margin capture. It is transitioning from a product-led manufacturer to a technology-driven and aftermarket-focused industrial player, which structurally improves profitability. Its strong execution, high ROCE & consistent cash generation provide a solid foundation for growth. Management’s FY31 targets of $750 million revenue and 18 per cent Ebitda margins indicate a clear roadmap for margin expansion driven by premium products, Demand=Match adoption, and aftermarket scaling. It is expected that the stock will see a price target of Rs 684 in 8 to 10 months.