The Economic Times’ Oct. 23 roundup of eight Indian stocks lists potential gains as high as 39%, above its “up to 30%” headline, across six Buy calls and two Neutral ratings.
The recommendations were reported over several days, from Oct. 12 to Oct. 22, and cover metals, payments, diagnostics, logistics and renewable energy. The percentages depend on the share-price references used in the reports.
Nomura rated Vedanta Aluminium Buy with a Rs 500 target and Hindalco Buy at Rs 1,100; it gave NALCO a Neutral rating and a Rs 320 target. Nomura also rated One97 Communications, Paytm’s parent company, Buy at Rs 2,250, and assigned Buy to Acme Solar at Rs 505 and Neutral to NTPC Green Energy at Rs 100. Axis Direct’s Buy call on Dr Lal PathLabs carries a Rs 2,315 target. JM Financial rated Shiprocket Buy, with a Rs 165 target for Sept. 2027.
The Economic Times reported that Nomura sees a widening difference between aluminum and alumina prices as a potential source of value over the next two to three years. Financial Express said the Paytm target was about 32% above its Rs 1,706 share price on Oct. 15.
Mint reported that JM Financial based its Shiprocket valuation on 32 times estimated adjusted EBITDA for Sept. 2028. The target is for Sept. 2027; Mint put the implied upside at 30% against a recent Rs 127 close, while the later Economic Times roundup listed 34%.
For Dr Lal PathLabs, the roundup pairs its Rs 2,315 target with a Rs 1,934 share price but lists 26% upside. That price pair implies about 19.7% by calculation; Moneycontrol reported about 20%. Moneycontrol also reported that Axis Direct cited the company’s nationwide reach and its consumer-facing business, which accounted for more than 70% of revenue.
On renewable energy, Moneycontrol said Nomura tied its Acme Solar view to storage-backed power that can be supplied more consistently and flagged transmission availability as a risk to NTPC Green Energy’s project execution.
