Jefferies Reveals Top 10 Stock Picks: Axis Bank, M&M, and More
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Jefferies forecasts Nifty at 28,300 by Dec 2026, driven by equity supply and domestic flows. See their top 10 stock picks, including Axis Bank and M&M.
Jefferies, a global brokerage firm, anticipates the Nifty index will climb to 28,300 by December 2026. This projection is fueled by consistent equity supply and strong domestic investment flows. Jefferies suggests these factors will likely keep Indian equity markets trading within a certain range over the next year.
This target is based on a price-to-earnings (PE) ratio of 20x applied to estimated earnings for December 2027. This implies a slight de-rating of 5% from current levels. Reflecting this outlook, Jefferies has released its list of top 10 stock selections, spanning sectors such as lending, automotive, cement, hospitality, telecommunications, real estate, consumer staples, IT, industrials, and pharmaceuticals.
TVS Motor is also featured among Jefferies’ preferred stocks. The brokerage firm recommends a "BUY" rating for TVS Motor, with a target price of Rs 3,605.25.
