Stocks to buy: HDFC Bank, Bharti Airtel, Lupin, among 16 stock picks for December by Axis Securities | Stock Market News

The Indian economy stands at the sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy, said Axis Securities as it continues to believe in the country’s long-term growth story, driven by the favourable structure, thanks to the increasing Capex which is enabling banks to improve credit growth.

This will ensure that Indian equities will easily manage to deliver double-digit returns in the next 2-3 years, supported by double-digit earnings growth. Against this backdrop, the brokerage firm foresees Nifty 50 earnings to post excellent growth of 14% CAGR over FY23-27, with financials remaining the biggest contributors for FY25/26 earnings.

“In our base case, we assume the continuation of the political stability in a coalition government, faster GDP growth rate vs. other emerging markets, stable monsoon, stable oil prices, and one to two rate cuts of 25 bps each in the next one year,” said Axis Securities.

In its base case, Axis Securities rolls over the Nifty 50 target to December 2025 to 26,100 by valuing it at 20x on December 2026 earnings. It believes the current setup of the market is ‘Buy on Dips’.

In its bull case, the brokerage firm values Nifty at 22x, which translates into a December 2025 target of 28,700, while its bear case Nifty target is 23,500.

Axis Securities has recommended 16 stocks to buy as its December top picks, In its report, the brokerage firm recommends 7 large-cap stocks to buy. These stocks are ICICI Bank, State Bank of India, Varun Beverages, HDFC Bank, Bharti Airtel, Cholamandalam Investment & Finance Company and HCL Technologies.

Largecap stock picks for December

ICICI Bank | Target Price: ₹1,500

SBI | Target Price: ₹1,040

Varun Beverages | Target Price: ₹700

HDFC Bank | Target Price: ₹2,025

Bharti Airtel | Target Price: ₹1,880

Cholamandalam Investment & Finance Company | Target Price: ₹1,675

HCL Technologies | Target Price: ₹2,100

Axis Securities’ December stock picks list also includes four mid-cap and five small-cap stocks to buy.

Midcap and Smallcap stock picks for December

Aurobindo Pharma | Target Price: ₹1,730

Lupin | Target Price: ₹2,600

Dalmia Bharat | Target Price: ₹2,040

Prestige Estates Projects | Target Price: ₹2,195

Chalet Hotels | Target Price: ₹1,035

Sansera Engineering | Target Price: ₹1,780

Healthcare Global Enterprises | Target Price: ₹575

Gravita India | Target Price: ₹3,000

J. Kumar Infraprojects | Target Price: ₹950

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.