Stocks to buy: Reliance, L&T, SBI among 12 high conviction large-cap ideas by Mirae Asset Sharekhan for 2025

Stocks To Buy: Bharti Airtel, DLF, ICICI Bank, Jubilant Foods, Larsen & Toubro, Mahindra & Mahindra, Reliance Industries, State Bank of India, Sun Pharmaceutical Industries, Tata Motors, Tata Consultancy Services, and UltraTech are the 12 high conviction large-cap investment ideas by Mirae Asset Sharekhan for 2025.

Large-cap stock ideas

Bharti Airtel: The target price of ₹1870 by Mirae Asset Sharekhan indicates more than 15% upside.

Rationale: Bharti Airtel continues to report industry-leading ARPU for India mobile services, and the recent tariff hikes augur well for the company, whose impact will be seen in the next couple of quarters, said Mirae Asset Sharekhan. The recent tariff hikes, moderation of capex intensity, and improving cash flows would aid in deleveraging the balance sheet, it added.

DLF Ltd: A target price of ₹1010 by Mirae Asset Sharekhan indicates more than 15% upside.

Rationale: DLF’s strong leadership position in Delhi-NCR, a strong residential project pipeline, huge rental portfolio, large land reserves at low carrying costs, and strong housing market tailwinds provide a high-growth opportunity, according to analysts at Mirae Asset Sharekhna.

ICICI Bank: A target price of ₹1500 by Mirae Asset Sharekhan indicates more than 10% upside for the stock.

Rationale: Analysts believe the bank is likely to sustain RoA over ~2% in the near to medium term. The bank has been delivering predictable earnings with healthy growth on a sustained basis, which is a key positive, they added.

Jubilant Foods: A target price of ₹765 by Mirae Asset Sharekhan indicates more than a 10% upside for the stock.

Rationale: The acquisition of DP Eurasia (DPEU) has put JFL on track to become a leading emerging markets’ food service company with 3,000+ stores across six markets and a portfolio of five brands, as per analysts.

Larsen & Toubro (L&T): A target price of ₹4550 by Mirae Asset Sharekhan indicates more than 20% upside for the stock.

Rationale: L&T remains at the forefront to reap benefits from the AtmaNirbhar Bharat scheme with its diversified businesses across sectors such as defence, infrastructure, heavy engineering, and IT and is the best proxy for domestic capex, said the brokerage.

Mahindra & Mahindra (M&M): The target price of ₹3600 by Mirae Asset Sharekhan suggests more than 18% upside for the stock price.

Rationale: Analysts believe the automobile segment would substantially contribute to profitability in the coming period.

Reliance Industries: A target price of ₹1827 by Mirae Asset Sharekhan indicates a strong 48% upside for the stock.

Rationale: Reliance Industries offers a long-term investment appeal, as it is well-positioned to capitalize on both India’s growth trajectory and global trends in energy, digital, and retail sectors, said analysts.

State Bank of India: A target price of ₹1050 by Mirae Asset Sharekhan indicates more than 25% upside for the stock.

Rationale: Credit growth is expected to be broad-based, driven by retail, SME, and corporate segments, as per analysts.

Sun Pharmaceutical Industries: A target price of ₹2,264 indicates more than 24% upside for the stock.

Rationale: The improved outlook across both key geographies - India and the US, and increasing penetration in other geographies would drive growth for Sun Pharma.

Tata Motors: A target price of ₹1099 signals more than 50% upside for the stock.

Rationale: A BUY rating on Tata Motors by analysts is based on expectations of continued improvement in JLR, PV, and CV businesses as well as reduced net automotive debt

Tata Consultancy Services (TCS): A target price of ₹5230 indicates more than 25% upside for the stock.

Rationale: TCS  is one of the leading IT service providers with a broad-based presence across BFSI, communication, manufacturing, retail, and hi-tech. The company continues to deliver consistent organic growth with industry-leading margins

UltraTech Cement: A target price of ₹13,000 indicates more than 13% upside for the stock.

Rationale: UltraTech is well poised to benefit from a strong demand environment, led by government spending on infrastructure and rising demand from the housing sector, according to the brokerage.

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 taking any investment decisions.