Leading financial firms like Jefferies and Elara Capital have recently initiated or significantly updated their coverage on a selection of Indian stocks, signaling fresh conviction in their growth prospects. This comes as markets continue to navigate new highs, prompting investors to seek out companies with strong fundamentals and clear catalysts. For retail investors, understanding these new analyst calls can offer valuable insights into potential opportunities.
Quick Highlights: What Happened on June 26, 2026
- Eternal (Zomato ecosystem): Jefferies flagged this stock with the highest potential upside of 117% in its updated June 2026 list, setting a target price of Rs 480.
- Bharti Airtel: Elara Capital initiated coverage with a ‘Buy’ rating, projecting a 31% upside to a target price of Rs 2,387.
- Groww (Billionbrains Garage Ventures): Jefferies added the parent company of Groww to its high-conviction list in June, indicating a 23% upside to a target price of Rs 195.
- Star Health: Jefferies added this healthcare stock to its ‘bottom-up ideas’ list in March 2026, seeing a 43% upside potential to Rs 660.
- Max Healthcare: Also added by Jefferies in March 2026, with a projected upside of 29% to a target price of Rs 1,320.
Key Market Data — June 26, 2026
| Metric | Value (as of June 26, 2026) | Change |
|---|---|---|
| Eternal | data unavailable | data unavailable |
| Bharti Airtel | data unavailable | data unavailable |
| Groww | data unavailable | data unavailable |
| 52-Week High | data unavailable | data unavailable |
| 52-Week Low | data unavailable | data unavailable |
| Market Cap | data unavailable | data unavailable |
| Volume | data unavailable | data unavailable |
Why It Happened: The Real Story Behind June 26, 2026’s Move
While many reports simply list stocks, the real story lies in why these companies are attracting fresh analyst attention right now. Brokerages are identifying specific catalysts and strong fundamentals that could drive future performance.
1. Strong Growth Potential in Digital and Consumer Ecosystems?
Jefferies, for example, highlighted Eternal, linked to the Zomato ecosystem, for its highest potential upside of 117%. This indicates a strong belief in the continued expansion of India’s digital consumer market. Similarly, Jefferies added Billionbrains Garage Ventures, the parent company of Groww, to its list, projecting a 23% upside. This suggests that the financialization of savings and the growth of online investment platforms are key themes for analysts.
2. Telecom Sector Resilience and Expansion?
Elara Capital’s initiation of coverage on Bharti Airtel with a 31% upside target underscores the telecom sector’s robust outlook. This means analysts see continued revenue growth and potential for market share gains in the sector. Furthermore, Elara Capital also initiated coverage on Bharti Hexacom, projecting a 20% upside, highlighting broader positive sentiment for telecom players.
3. Healthcare Sector’s Enduring Appeal?
The healthcare sector continues to draw significant analyst interest. Jefferies added Star Health and Max Healthcare to its ‘bottom-up ideas’ list in March 2026, with projected upsides of 43% and 29% respectively. This suggests that analysts are confident in the long-term growth durability and operating stability of healthcare providers in India.
The Broader Picture: What This Means for Indian Markets
These fresh ‘buy’ calls from prominent brokerages like Jefferies and Elara Capital reflect a selective optimism within the Indian market. Analysts are increasingly focusing on companies that demonstrate clear growth trajectories, often tied to India’s domestic consumption story, digital transformation, and resilient sectors like healthcare and telecom.
This trend suggests that while the broader market might see rotations, specific pockets with strong underlying business models and visible earnings growth are likely to remain in focus. For instance, Motilal Oswal’s long-term picks for 2026 also emphasize banking, financial services, IT, FMCG, infrastructure, clean energy, and healthcare, aligning with the themes seen in recent coverage initiations. This means that investors should look beyond headline indices and delve into specific company fundamentals.
What the Data Shows for Investors
The recent analyst coverage data shows a clear preference for companies with strong growth catalysts and robust business models. For example, Jefferies’ highest upside call of 117% on Eternal, linked to the Zomato ecosystem, indicates the significant potential seen in India’s evolving digital consumer landscape. This pattern suggests that companies leveraging technology and catering to a growing consumer base are attracting strong institutional interest.
Furthermore, the initiation of coverage by Elara Capital on Bharti Airtel with a 31% upside, and Bharti Hexacom with a 20% upside, highlights the ongoing strength and expansion opportunities within the telecom sector. These figures indicate that despite market fluctuations, certain sectors are demonstrating consistent performance and future growth prospects. The data also points to sustained interest in the healthcare sector, with Jefferies projecting significant upsides for Star Health and Max Healthcare. This suggests that defensive sectors with predictable earnings continue to be attractive to analysts.
Frequently Asked Questions
1. What does “initiated coverage” mean for a stock?
When a brokerage “initiates coverage” on a stock, it means their research team has started formally analyzing the company and publishing reports, often including a rating (like ‘Buy’, ‘Hold’, or ‘Sell’) and a target price. This can bring a stock to the attention of more investors.
2. How reliable are these “upside potential” projections?
Upside potential projections, like Jefferies’ 117% for Eternal or Elara Capital’s 31% for Bharti Airtel, are based on the analyst’s research, financial models, and assumptions about future company performance and market conditions. They represent a projection or target, not a guaranteed return. Investors should always conduct their own due diligence.
3. Are these the only stocks getting analyst attention today?
No, many other stocks are also receiving analyst attention. For example, Axis Securities identified 15 stocks for June with potential upside up to 44%, and Nuvama recommended Olectra Greentech, GAIL, and HAL on June 25, 2026. This article focuses on a selection of prominent recent calls.
4. Does a ‘Buy’ rating mean I should invest immediately?
A ‘Buy’ rating from a brokerage indicates their positive outlook on a stock’s future performance based on their research. However, it is crucial for individual investors to align any investment decision with their own financial goals, risk tolerance, and investment horizon. Always consult a financial advisor for your specific situation.
The Bottom Line
The latest analyst reports from Jefferies, Elara Capital, and others in June 2026 clearly show a renewed focus on specific Indian stocks with strong growth potential, particularly in the digital consumer, telecom, and healthcare sectors. These firms are identifying companies with robust fundamentals and clear catalysts, projecting significant upsides in some cases. This means that while the broader market may present challenges, opportunities exist for investors who understand the underlying reasons behind these fresh ‘buy’ calls.
Disclaimer: The views expressed are for informational purposes only and do not constitute financial advice. Investing in stocks and IPOs involves significant risk. forgeup.in is not liable for any financial losses. Always consult a certified investment advisor before making any decisions.