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From a positioning standpoint, ICICI Direct advises staying with domestic oriented sectors like Banks, Infra / Cap Goods, Cement, Autos and Auto Ancillaries with lesser export share, Real Estate and Consumer Discretionary. Here are its top stock recommendations in these times.
By Meghna Sen March 6, 2026, 8:16:44 AM IST (Published)
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Brokerage firm ICICI Direct believes that the geopolitical events taking place currently is providing a buying opportunity for investors for a two to three-year time horizon.
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The brokerage has taken geopolitical events over the last three decades and observed that between 1990-2026 an event that ran for four weeks on average saw equity markets see a correction, but the average three and six-month return that the Sensex has delivered after the event, stood at 28% and 38% respectively.
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From a positioning standpoint, ICICI Direct advises staying with domestic oriented sectors like Banks, Infra / Cap Goods, Cement, Autos and Auto Ancillaries with lesser export share, Real Estate and Consumer Discretionary. Here are its top stock recommendations in these times.
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Larsen & Toubro | The brokerage has a price target of ₹5,030 on the stock, which implies an upside potential of nearly 30% from Thursday's closing levels.
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Elgi Equipment | ICICI Direct has a price target of ₹620 on the stock, which implies an upside potential of 24% from current levels.
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City Union Bank | The stock can go up to levels of ₹320, according to ICICI Direct, which implies an upside potential of 23% from current levels.
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Nippon India AMC | A 21% upside potential is in store for the stock, ICICI Direct wrote, ascribing a price target of ₹1,020 to the stock.
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Star Cement | The smaller cement player can see its stock price rise to levels of ₹300, an upside potential of 46%, according to ICICI Direct's note.
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Chalet Hotels | This is the only hotel stock that is part of ICICI Direct's list. The brokerage sees the stock at ₹1,055, indicating an upside potential of 40% from current levels.
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NRB Bearings | In-line with its recommendation on auto ancillaries with a lower export share, ICICI Direct has a "buy" rating on NRB Bearings with a price target of ₹353, which indicates an upside potential of 37%.
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Asian Paints | India's largest paint company also forms part of this list. ICICI Direct has a price target of ₹3,055, indicating an upside potential of 34% from current levels.
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Indo Count Industries | The stock has the highest upside potential in this list with ICICI Direct's price target of ₹400 indicating an upside potential of 60% from current levels.
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