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From Bajaj Finance to Bharti Airtel and State Bank of India, Axis Securities has listed 15 stocks as its top picks for the month of October for up to 30% upside over the next 12 months. Check more here.
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Bajaj Finance | Axis Securities has projected an upside of 10% on Bajaj Finance with a price target of ₹1,100 apiece. The brokerage is of the view that the company is set to witness improved margins, supported by faster transmission of the rate cuts in cost of funds and an optimal borrowing mix. It sees slowdown in credit growth momentum, asset quality challenges in new segments as the two key risks.
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State Bank of India | The brokerage sees a 17% potential upside on the lender with a price target of ₹1,025 apiece. It said SBI remains well-poised to sustain its growth momentum, supported by its comfortable liquidity ratio, providing it with leverage to accelerate credit growth.
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HDFC Bank | Axis Securities has a price target of ₹1,150 per share on India's largest lender, implying a potential 21% upside from its previous close. It said that while near-term pressures on net interest margins will weigh on earnings, the impact of margin compression will be offset by healthy fee income growth, controlled costs and pristine asset quality, which will keep credit costs benign.
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Bharti Airtel | Axis Securities sees a 22% potential upside on the stock with a price target of ₹2,300 per share. Its 'buy' rating on the stock is driven by the company's superior margins, impressive subscriber growth and increased 4G conversions, it said.
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Shriram Finance | As per the brokerage, the stock can rise 22% from its previous close to its price target of ₹750 per share over the next 12 months. It said with demand buoyancy in the rural markets and healthy growth visibility across most of the segment, Shriram Finance is expected to deliver a consistent and healthy 15% CAGR AUM growth over the medium term.
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Avenue Supermarts | Axis Securities has projected an 18% upside on the stock with a target price of ₹5,280 per share. It said the company has taken several initiatives to address challenges such as subdued demand environment, increasing competition from organised players and online platforms, among others. It is of the view that the overall improving consumer demand, supported by stable macroeconomics and a strong festive outlook in the second half of FY26 is expected to further support these initiatives and drive growth in high-margin general merchandise and apparel categories.
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Lupin | Axis Securities sees a 26% upside on the stock with a target price of ₹2,400 per share. It said at its current market price, it trades at 23.5 times and 21.5 times its FY26 and FY27 earnings estimated earnings, respectively.
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Max Healthcare Institute | The brokerage has a target price of ₹1,450 per share on the stock, an upside of 30% from its previous closing price. It said the company's focus remains on scaling oncology and international patient business while maintaining strong return ratios.
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Hero MotoCorp | Axis Securities sees a 14% upside on the stock with a price target of ₹6,245 apiece. It said government initiatives to enhance rural income, higher disposable income and the marriage season are expected to drive two-wheeler industry growth, benefitting the company, particularly in the entry and 125cc segments.
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Prestige Estates Projects | Axis Securities sees a 32% upside on the stock with a target of ₹2,000 per share. It said the company has set FY26 guidance targeting pre-sales of ₹27,000 crore and a robust launch pipeline of ₹43,000 crore in gross development value. The strong Q1 performance, particularly in NCR, establishes a solid base of achieving these targets, it said.
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APL Apollo Tubes | The brokerage sees a 16% upside on the stock with a target of ₹1,686 per share. It added that with the growth drivers intact, it believes APL Apollo Tubes is well-positioned to capture India's infrastructure growth.
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Mahanagar Gas | Axis Securities sees a 19% upside on the stock with a target of ₹1,540 per share. It values the stock on a discounted cash flow basis, with a weighted average cost of capital of 11.6% and a terminal growth rate of 3%.
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Kirloskar Brothers | The brokerage sees a 21% upside on the stock with a target of ₹2,330 per share. With sustained demand from key end markets and a robust order book, the company remains on track to achieve double digit revenue growth in the medium term, it said.
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Sansera Engineering | Axis Securities has a target price of ₹1,580 per share on the stock, a 15% upside from its previous close. It said it expects the company's revenue, EBITDA and PAT to grow at CAGR of 10%, 12% and 18%, respectively, over FY26-28.
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Kalpataru Projects | The brokerage sees a 17% upside on the stock for a target of ₹1,470 per share. It said the company is well-placed to capitalise on its strong order book, favourable sectoral trends in domestic and international T&D and B&F segments, improved performance of international subsidiaries, supportive government initiatives, and anticipated margin gains.
