Nomura, Axis initiate coverage on 8 stocks with up to 30% upside potential. See full list
Nomura, Axis Direct and JM Financial start coverage of 8 stocks, including Vedanta Aluminium, Hindalco and One97 Communications.
· Economic Times Markets, ET Stocks
Market analysts have recently initiated coverage on a selection of Indian stocks, highlighting significant growth opportunities. Nomura has issued Buy ratings for Vedanta Aluminum, Hindalco, and Paytm, driven by diverse growth vectors. Similarly, Axis Direct and JM Financial have endorsed Dr. Lal Path Labs and Shiprocket, suggesting a promising trajectory.
The analysis
Where the names start from: Dr Lal PathLabs is 5% below its 52-week high, +1.5% over three months; One97 Communications (Paytm) is 12% below its 52-week high, +22.6% over three months; Hindalco is 23% below its 52-week high, -8.8% over three months; Vedanta Aluminium is 28% below its 52-week high, -22.0% over three months. A rating is set against the price on the day the note is written, so how far a stock has already run is the part of the case the headline upside leaves out.
Market context
- Brokerage calls from Nomura, Axis Direct and JM Financial, starting coverage of 8 stocks. Of these, the 4 we track are below: Vedanta Aluminium, Hindalco, One97 Communications (Paytm) and Dr Lal PathLabs.
- The “up to 30% upside” is the brokerages’ own estimate: the gap between the share price when the note was written and their target price, usually set a year out. It is a forecast by the brokerage, not a move that has happened.
- On the day, 1 of 4 are higher: Vedanta Aluminium leads at +2.1% and One97 Communications (Paytm) trails at -3.1%.
- Over three months: Vedanta Aluminium -22.0% against Metals & Mining -9.5% (12.5 points behind); Hindalco -8.8% against Metals & Mining -9.5% (0.7 points ahead); One97 Communications (Paytm) +22.6% against Financial Services -14.9% (37.5 points ahead); Dr Lal PathLabs +1.5% against Pharma & Healthcare -0.9% (2.4 points ahead).
- At least 25% below the 52-week high: Vedanta Aluminium (28%).
- Vedanta Aluminium: 52-week and period figures are measured since it listed on 15 Jun 2026.
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Vedanta AluminiumVAML · Metals & Mining · Listed 15 Jun 2026 | ₹356.45 | +2.1% | -13.7% | -22.0% | -28.1% | 1.2× | — |
| HindalcoHINDALCO · Metals & Mining | ₹884.70 | -0.2% | -6.1% | -8.8% | -23.0% | 0.8× | — |
| One97 Communications (Paytm)PAYTM · Financial Services | ₹1,634.30 | -3.1% | -2.6% | +22.6% | -11.7% | 0.5× | — |
| Dr Lal PathLabsLALPATHLAB · Pharma & Healthcare | ₹1,906.40 | -0.3% | -4.1% | +1.5% | -4.9% | 1.1× | — |
Metals & Mining
1M -9.3% · 3M -9.5%
Vedanta Aluminium, Hindalco
Financial Services
1M -8.8% · 3M -14.9%
One97 Communications (Paytm)
Pharma & Healthcare
1M -0.6% · 3M -0.9%
Dr Lal PathLabs
Prices as of 30 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
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