As investors enter Samvat 2083, the landscape calls for selectivity rather than indiscriminate optimism. Global uncertainties, fluctuating capital flows and evolving market expectations continue to influence equity performance. In this environment, sustainable wealth creation is likely to depend less on broad-based market movements and more on identifying businesses capable of delivering consistent earnings growth. Here are 8 stocks PL Capital is bullish on.
PL Capital has set a target price of Rs 490 for Bharat Electronics (BEL), implying an upside of 24% from current levels. The company has a strong order book of Rs 68,720 crore, equivalent to 2.3x its trailing 12-month sales, providing healthy execution visibility. Key programmes, including Electronic Fuses, LCA MK1A, LR-SAM, BMP-2 upgrades, Ashwini Radar and EW Suites for Mi-17, account for around Rs 17,600 crore. The Rs 20,000 crore NGC opportunity is expected to translate into staggered orders from GSL and GRSE, largely by the end of FY27. Orders worth Rs 30,000 crore for QRSAM are also expected shortly, with BEL well positioned to retain its role given its decade-long development experience.
PL Capital has set a target price of Rs 6,579 for Britannia Industries, implying an upside of 37.5% from current levels. The brokerage maintains a high-conviction view on the company, supported by its leadership in the biscuits and bakery segments, sustained growth in signature brands and improving scalability and profitability across adjacencies. Its signature brands grew 3x faster than the rest of the portfolio in FY26. A robust innovation pipeline focused on region- and channel-specific offerings, alongside premiumisation, further supports the growth outlook. The complete resolution of the dual-pricing issue is also expected to restore volume stability and support a recovery in growth.
PL Capital has set a target price of Rs 1,900 for ICICI Bank, implying an upside of 21% from current levels. The brokerage considers ICICI Bank the best-performing bank in terms of earnings quality, supported by a strong balance sheet. Its CET-1 ratio stands at 16%, while the loan-to-deposit ratio is maintained between 86% and 89%, and the liquidity coverage ratio remains adequate at 126%. Sizable fixed-rate funding mobilised through FCNR deposits could support future credit growth amid the rate hike cycle. A revival in credit growth, resilient margins, strong net interest and fee income, improving asset quality and greater operating efficiency are expected to sustain earnings momentum and support industry-leading profitability.
PL Capital has set a target price of Rs 1,200 for Shriram Finance, implying an upside of 25% from current levels. The brokerage sees the company as a compelling long-term investment opportunity, supported by structurally higher AUM growth aided by capital infusion from MUFG Bank. A stronger balance sheet and potential credit rating upgrade could lower its cost of funds, while diversification across vehicle finance, MSME and gold loans is expected to support growth. Gradual improvement in profitability further strengthens the investment outlook.