A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as aluminum, energy and internet. Analysts are bullish on major names such as Paytm, Vedanta Aluminum among others and forecast strong upside from current market levels. Here is a list of stocks on which brokerages initiated coverage.
With a target price of this Rs 500 (39% upside), Nomura started coverage on the stock with a Buy rating. Nomura’s sector outlook is centred on the divergence between commodity prices rather than their absolute direction. The brokerage expects aluminium and its key raw material, alumina, to become increasingly decoupled, with the widening price gap presenting the main value-creation opportunity over the next 2-3 years.
With a target price of Rs 1,100 (23.3% upside), Nomura started coverage on the stock with a Buy rating. LME aluminium prices have risen more than 20% in 2026 following supply disruptions in the Middle East, reaching $3,850 per tonne in June. Nomura said this divergence has significant historical precedent that current market narratives have underappreciated, creating asymmetric investment opportunities.
With a target price of Rs 320 (2.5% upside), Nomura started coverage on the stock with a Neutral rating. LME aluminium prices have risen more than 20% in 2026 following supply disruptions in the Middle East, reaching $3,850 per tonne in June. Nomura said this divergence has significant historical precedent that current market narratives have underappreciated, creating asymmetric investment opportunities.
One97 Communications, the parent company of Paytm, got a Buy rating from global brokerage Nomura which assigned a target price of Rs 2,250, an upside of 36% from current levels. Nomura analysts say Paytm is riding India’s digital payments highway and sees robust growth levers in the coming quarter.