Amid the ongoing volatility in Indian equity markets, leading domestic brokerage houses have expressed a positive stance on select companies with strong fundamentals, aggressive capex (capacity expansion) and stable revenue growth. Market analysts believe that despite global uncertainties, companies related to domestic consumption, healthcare and financial services sectors can provide great wealth creation opportunities to investors in the long term. ICICI Securities, PL Capital and Motilal Oswal have maintained their 'BUY' ratings on three key companies—One Source Specialty Pharma, Apijay Surendra Park Hotels and HDFC Asset Management Company (HDFC AMC), based on a review of recent research reports. The potential upside of these three stocks from the current market price is estimated to be around 33 percent to 51 percent. ICICI Securities confident on One Source Specialty Pharma: Target of Rs 2400 with 51% potential upside ICICI Securities has strongly maintained its 'BUY' rating on One Source Specialty Pharma shares. The brokerage firm has set a 12-month target price of Rs 2,400 for this stock. This target represents a solid potential upside of about 51 per cent from the stock's current trading price of Rs 1,592.40. According to the report, the company enjoys a highly unique and competitive position as the leading Contract Development and Manufacturing Organization (CDMO) with regulatory approval for generic semaglutide in the G7 developed countries, which protects its future margins. The company's global clients have recorded solid growth in the rapidly growing semaglutide markets of India, Canada and Saudi Arabia. The brokerage expects the company to rapidly expand its footprints in Brazil, Turkey, Latin America and South-East Asian regions in the coming months. To meet the unexpected surge in global demand, the company has increased its DDC capacity by approximately 3.5 to 5 times to the level of 700 to 950 liters in September 2026. Additionally, the management is aggressively working on plans to add additional capacity of 500 to 750 liters by March 2027. The company recently secured five new client partnerships in the biologics and biosimilars vertical, providing multi-year strength to its revenue visibility. PL Capital's bullish report on Apeejay Surendra Park Hotels: Target of Rs 156 and 41% upside estimate PL Capital has reiterated its 'BUY' recommendation on Apeejay Surendra Park Hotels, a leading company in the hospitality and retail F&B sector. The brokerage has given a target price of Rs 156 for this share. Currently trading at Rs 110.55, investors are seeing a strong upside potential of about 41 percent from the current price. Financial analysts at the brokerage believe that the company's balanced and unique business model—which is based on the twin engines of premium hotel properties and retail food and beverage (F&B)—enables it to generate consistent cash flows while avoiding long-term cyclical downturns. As part of the company's long-term expansion plan, the management is working on a concrete strategy to expand its hotel portfolio from the current 42 hotels (2,677 keys/room) to 87 hotels and 6,719 keys by FY2030. This includes a large proportion of the company's own assets as well as 'asset-light' managed contracts, which will allow direct profits to be realized through operating leverage without the need for heavy capital investment. Additionally, the company's historic and popular retail F&B brand 'Flurys' is currently emerging as the company's biggest growth driver. The company aims to open 130 to 140 outlets by FY2027, which will be expanded to 300 outlets in the medium term. The company is partnering with leading mall developers, metro airport operators and multiplex chains for strategic expansion. PL Capital estimates that the company's total sales and EBITDA will register a compound annual growth rate (CAGR) of 17% and 20% respectively during FY 2026 to 2028. Motilal Oswal's buying advice on HDFC AMC: Target price of Rs 3200 Veteran brokerage house Motilal Oswal has given a target price of Rs 3,200 while continuing its 'BUY' call on HDFC Asset Management Company (HDFC AMC), a leader in India's mutual fund and wealth management space. Based on the current market price of the share of Rs 2,408, the brokerage sees a potential rise of about 33 percent in it. The brokerage report underlined that HDFC AMC remains the largest and direct beneficiary of the growing trend of investment in financial assets (Financialization of Savings) and continuous inflow of Systematic Investment Plan (SIP) in the country. According to Motilal Oswal, HDFC AMC's consistently improving financial performance, steady growth in Assets Under Management (AUM), strong equity market share and deep retail penetration across Tier-2 and Tier-3 cities in the country continue to position it as an industry leader. Although the volatility and corrections in the stock market on a short-term basis may have a momentary impact on the company's flows, the company's core fundamentals, zero-debt status and strong return on equity (RoE) remain at very attractive levels. The brokerage believes HDFC AMC will maintain industry-leading margins over the long term, driven by superior digital infrastructure, strategic product diversification and wide distribution network. Portfolio diversification and important strategy for investors According to market experts, these three shares represent three different sectors like Pharma, Hospitality and Asset Management, due to which investors can get direct benefit of sector diversification in their portfolio. While the pharma sector continues to deliver defensive growth driven by global generic and biosimilar demand, the hospitality sector continues to register record occupancy on the back of domestic tourism and corporate travel. On the other hand, long-term structural development of the mutual fund industry is creating a strong foundation for the financial services sector. Investors are advised to adopt a strategy of buying on dips in a systematic manner instead of making lump sum investment in any stock and take investment decisions only as per the advice of their financial advisor.
