Jefferies Names Top India Stock Picks Across Sectors
Jefferies has selected eight Indian stocks across sectors including automotive, industrial, metals, energy, defense, and infrastructure as top picks. TVS Motors leads with a 21% domestic market share, driven by growth in motorcycles, scooters, and electric two-wheelers. Bharat Forge's US truck orders surged 104% year-to-date and defense sector represents 18-19% of its revenues.
JSW Steel aims to triple its capacity to 80 million tons and expects earnings per share to triple. Hindustan Zinc benefits from rising zinc prices and projects 44% YoY growth in EBITDA and EPS in fiscal 2027. Siemens Energy India sees 475 basis points margin expansion and 43% EPS CAGR over the next three years. Hindustan Aeronautics boasts a Rs2.5 trillion order book and expects 310 basis points margin improvement.
Adani Ports anticipates 16% EBITDA CAGR driven by 13% port volume growth and could become net cash by fiscal 2031. Emmvee Photovoltaic, with a robust TOPCon cells entry and strong order book, projects a 33% EBITDA CAGR.
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