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The brokerage remains constructive on financials, telecom, consumer and industrial names, citing healthy earnings outlook and attractive upside potential across its key stock picks.Bajaj Finance | Axis Securities expects Bajaj Finance to sustain its growth trajectory, with assets under management likely to grow at a 24-25% CAGR over the medium term. Growth is expected to resume from FY27, driven by core products and an increasing contribution from new product lines. The brokerage has a 'Buy' rating on the stock with a price target of ₹1,200, implying an upside of about 22% from current levels.State Bank of India | Axis Securities said SBI has delivered the strongest performance among large banks and remains well-placed to sustain this momentum. The outlook is supported by the bank's focus on strengthening its liability franchise, allocating capital to higher RoRWA assets, disciplined pricing, and greater use of technology to improve operating efficiency. The brokerage recommends a 'Buy' with a price target of ₹1,135, indicating a potential upside of 16%.HDFC Bank | With its loan-to-deposit ratio below 100%, HDFC Bank is expected to accelerate loan growth in FY26 to align with system-wide growth. Growth could strengthen further in FY27, while healthy deposit mobilisation should help bring the LDR down to below 90%. Margin pressure seen in the first half is likely to ease in the second half, supported by deposit repricing and a CRR cut. Axis Securities believes net interest margin pressures will be offset by controlled operating costs and stable credit costs, enabling HDFC Bank to deliver RoA of 1.8–1.9% and RoE of 15-16% over FY26-28E. The brokerage has a 'Buy' rating with a price target of ₹1,170, implying an upside of 18%.Bharti Airtel | Axis Securities has maintained its 'Buy' rating on Bharti Airtel, citing strong margins, robust subscriber additions, and higher 4G conversions. The brokerage has set a price target of ₹2,530, which implies an upside of 20% from current levels.Avenue Supermarts | Axis Securities expects improving consumer demand, supported by stable macro conditions and a strong festive season outlook in H2FY26, to drive growth in high-margin general merchandise and apparel segments. The brokerage also said that a reduction in GST rates has supported consumption and discretionary spending. It has maintained a 'Buy' rating on the stock with a price target of ₹4,960, implying a potential upside of 31%.Inox Wind | After adjusting for the minority stake in Inox Green Energy Services and Resco Global, Axis Securities has arrived at a price target of ₹190 per share for Inox Wind. This suggests an upside potential of 54% from current levels.Kirloskar Brothers | Axis Securities said sustained demand across key end markets and a strong order book position Kirloskar Brothers for double-digit revenue growth over the medium term. The current order book offers healthy revenue visibility, with execution cycles ranging from a few weeks to 18 months. Order inflows are expected to remain strong. The brokerage has retained a 'Buy' rating with a price target of ₹2,330, implying an upside of 45%.Ujjivan Small Finance Bank | As operational challenges ease, Axis Securities expects Ujjivan Small Finance Bank to see a stronger recovery in the second half, supported by steady margins and declining credit costs. The brokerage projects RoA and RoE to improve to 1.7-1.9% and 15-18%, respectively, over FY27-28E. It has set a price target of ₹65, indicating an upside of 23%.APL Apollo Tubes | With growth drivers intact, Axis Securities believes APL Apollo Tubes is well-positioned to benefit from India's infrastructure push. The brokerage expects EBITDA to grow at a 29% CAGR over FY25-27E and has maintained a 'Buy' rating with a target price of ₹2,100.Mahanagar Gas | Axis Securities has added net cash and investments at a 30% discount to arrive at a target price of ₹1,540 per share for Mahanagar Gas. This implies an upside of 36% from current levels.Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.