Eight select Indian stocks are drawing fresh attention from prominent brokerage firms, with new coverage indicating significant upside potential for investors. Firms like Choice Institutional Equities, DR Choksey Finserv, Systematix Institutional Equities, Motilal Oswal Financial Services, and ICICIDirect Research have initiated 'buy' or 'accumulate' ratings on these companies, forecasting share price growth from 7% to a high of 84%.
The companies under the spotlight include Tanfac Industries, Anthem Biosciences, Epigral, Emcure Pharmaceuticals, Privi Speciality Chemicals, Fineotex Chemical, and HFCL. Analysts highlight various factors driving their optimistic outlooks, from strategic expansions and market positioning to robust product pipelines and enhanced operational efficiencies.
Tanfac Industries: Choice Institutional Equities
Choice Institutional Equities has initiated coverage on Tanfac Industries with a 'Buy' rating and a target price of Rs 3,750, suggesting a 38% upside. The brokerage emphasizes Tanfac's expertise in Hydrofluoric Acid (HF), a highly corrosive and regulated chemical. With over 30 years of experience, Tanfac has expanded its core HF facility and anticipates improved margins by FY28E, driven by higher realization from R-32 compared to commodity HF.
Anthem Biosciences: DR Choksey Finserv
DR Choksey Finserv has given Anthem Biosciences an 'Accumulate' rating with a target price of Rs 818, indicating a 7% upside. The firm believes Anthem is well-positioned for sustained high growth over the next 2-3 years, supported by increasing demand in Contract Research, Development, and Manufacturing Organization (CRDMO) services. Its extensive pipeline, including 10 Phase III molecules and over 1,100 early-stage projects, provides strong revenue visibility.
Epigral: Systematix Institutional Equities
Systematix Institutional Equities recommends Epigral with a 'Buy' rating and a target price of Rs 1,380, projecting a 19% upside. Epigral's transformation is centered on a strategic shift towards value-added derivatives and specialty chemicals. The company is poised to capitalize on robust domestic demand for new products like epichlorohydrin and chlorinated polyvinyl chloride, bolstered by vertical integration and energy efficiency initiatives.
Emcure Pharmaceuticals: Motilal Oswal Financial Services
Motilal Oswal Financial Services has initiated coverage on Emcure Pharmaceuticals with a 'Buy' rating and a target price of Rs 2,260, forecasting a 20% upside. Emcure's strategy focuses on enhancing differentiated offerings for both domestic and international markets through R&D and acquisitions. The brokerage expects the company to achieve a healthy Return on Equity (RoE) of 20%, with projected revenue and PAT CAGRs of 14% and 22% respectively over FY26-28.
Privi Speciality Chemicals: ICICIDirect Research
ICICIDirect Research has issued a 'Buy' rating for Privi Speciality Chemicals, setting a target price of Rs 4,490, which implies a 26% upside. Privi is undergoing significant manufacturing capacity expansion and aims for substantial revenue and EBITDA growth within 3-4 years. With nearly 67% of its revenue from exports, the company leverages a diversified portfolio of over 75 specialty aroma chemicals and strategic backward integration for superior margins.
Fineotex Chemical: Choice Institutional Equities
Choice Institutional Equities has initiated coverage on Fineotex Chemical with a 'Buy' rating and a target price of Rs 51, indicating a 29% upside. Fineotex's acquisition of a 53% stake in CrudeChem Technologies (CCT) significantly expands its footprint in the North American oilfield chemicals market. The company benefits from healthy margins in its core textile and specialty chemicals business, with a debt-free balance sheet supporting further expansion.
HFCL: DR Choksey Finserv
DR Choksey Finserv has assigned a 'Buy' rating to HFCL, setting an ambitious target price of Rs 362, which represents an 84% upside. HFCL is described as being at an inflection point, transitioning from a domestic EPC telecom contractor to an export-led, product-driven technology platform encompassing AI optical connectivity, defence electronics, and aerospace manufacturing. The brokerage projects robust growth, with a 35% revenue, 70% EBITDA, and 108% PAT CAGR over FY26-28.