Indian markets have witnessed eight consecutive weeks of decline, a streak worse than the 2020 Covid crash and the 2008 global financial crisis. Amid this correction, Axis Securities has identified seven large-cap stocks that offer strong value and growth potential, with possible returns of up to 44%.
The brokerage has set a target price of ₹1,305 for Bajaj Finance, implying a 36% upside. The company is among India’s largest NBFCs, with a wide portfolio covering consumer loans, housing, and small businesses.
For Bharti Airtel, Axis sees the highest upside of 44%, with a target of ₹2,530. Airtel is India’s second-largest telecom operator, with operations in 18 countries and a strong digital services portfolio.
ICICI Bank has been given a target of ₹1,800, suggesting a 36% gain. The lender benefits from a strong liability franchise and diversified subsidiaries.
Eternal, which includes businesses like Zomato and Blinkit, has a target of ₹390, reflecting a 22% upside.
Varun Beverages, PepsiCo’s second-largest franchisee worldwide, has a target of ₹530, offering a 23% gain.
Kotak Mahindra Bank is expected to rise 20% to ₹500, supported by its diversified financial services.
Finally, Nestle India has a target of ₹1,765, highlighting its strong consumer presence with brands like Maggi and Nescafé.
Axis believes these stocks combine stability with growth, making them attractive opportunities for investors in the current market.