1 / 11Motilal Oswal is ‘overweight’ on sectors like IT, healthcare, BFSI, consumer discretionary, industrials, real estate, and themes such as capital markets, EMS, digital e-commerce, and hotels for 2025. Their top 10 stock picks reflect this outlook, with strong growth potential and significant upside. With strategic positions in key sectors, these stocks are poised to deliver robust returns, making them top investment opportunities for the year ahead.
2 / 111. ICICI Bank | ICICI Bank continues to show robust growth, with a target price of ₹1,550, indicating a potential upside of 19.4% from the current market price of ₹1,298.95. The bank has reported an impressive 17% CAGR in its loan portfolio from FY22 to FY24, driven by retail, business banking, and SME segments. ICICI Bank’s revamped strategy, coupled with its strong performance in business banking, positions it well to continue expanding its loan book over the coming years. Analysts have high expectations, with Motilal Oswal reaffirming its ‘buy’ recommendation for the stock.
3 / 112. HCL Technologies | HCL Technologies has a target price of ₹2,300, implying an upside of 21.6% from current market price of ₹1892.05. The company’s revised FY25 growth forecast of 3.5%-5% reflects its strong deal wins and leadership in next-gen platforms. HCL’s continued focus on AI-driven services positions it for long-term growth despite market challenges.
4 / 113. Larsen & Toubro Ltd | Larsen & Toubro’s target price of ₹4,300 reflects an 18.3% upside from ₹3,633 closing price on Tuesday, December 24. With strong order books and a diversified focus on new sectors, including semiconductors, L&T’s consistent growth trajectory and expanding infrastructure portfolio make it a solid pick for investors in 2025.
5 / 114. Zomato Ltd | Zomato’s target price of ₹330 suggests a 20.2% upside from today’s ₹274.50 closing price. The company’s strong growth across food delivery, grocery, and dining-out segments positions it well for the future. Zomato’s increasing market significance, highlighted by its inclusion in the Sensex, further underscores its potential.
6 / 115. NAM India | Nippon Life India AMC, a strong player in the asset management industry, has a target price of ₹900, implying a 19.6% upside from ₹753. Motilal Oswal’s ‘buy’ call highlights the company’s strong market share gains in the equity segment, which have risen to 7.6% from 7% in 2022. As it attracts more offshore funds, driven by its parent company’s support, Nippon India AMC is poised for significant growth. The company’s solid performance in 2023, along with its focus on expanding its equity business, makes it a promising investment for the long term.
7 / 116. Mankind Pharma | Mankind Pharma’s target price of ₹3,140 presents a potential upside of 8% from its current price of ₹2,909. The company delivered impressive results for Q2 FY25, driven by strong growth in its consumer and export businesses. With a niche portfolio and superior execution in chronic therapies, Mankind has outperformed the industry in the Rx-prescription segment. Despite some pressure on pricing for certain brands, the company’s future growth prospects, particularly in consumer healthcare, remain strong, making it a solid pick for investors looking for sustained growth.
8 / 117. Lemon Tree Hotels | Lemon Tree Hotels, operating in the tourism and hospitality sector, is trading at ₹151.25 with a target price of ₹190, suggesting an upside of 25.5%. The hospitality sector, particularly the wedding and MICE segments, is poised for strong growth, and Lemon Tree Hotels stands to benefit from this momentum. With strong demand in the second half of FY25, driven by the stabilisation of key properties and favourable supply-demand dynamics, the company is well-positioned to deliver a 33% PAT CAGR over the next few years. Motilal Oswal’s ‘buy’ recommendation reflects confidence in its growth trajectory.
9 / 118. Polycab India | Polycab India, a key player in the consumer durables sector, has a target price of ₹8,340, indicating an upside of 17.8% from ₹7,077. Despite lower margins in Q2 FY25, Polycab’s revenue growth of 30% YoY highlights its resilience. The company is optimistic about its growth in the cables and wires segment and anticipates a stronger second half of FY25. Polycab is also targeting ₹20,000 crore in revenue ahead of schedule, thanks to robust demand from the real estate sector. Motilal Oswal’s ‘buy’ rating reflects confidence in its ability to meet these ambitious targets.
10 / 119. Macrotech Developers | Macrotech Developers, the real estate company behind the Lodha brand, has a target price of ₹1,770, reflecting an upside of 26.7% from ₹1,397. Despite the typically slow monsoon season, Macrotech reported strong growth, with a 50% YoY increase in topline for Q2 FY25. The company’s solid performance in the residential sector, alongside an impressive net profit increase, positions it well for continued growth. Macrotech’s diversification and strong market presence in luxury real estate make it an attractive investment for 2025.
11 / 1110. Syrma SGS Technology | Syrma SGS Technology, with a target price of ₹750, offers a potential upside of 25.2% from its current price of ₹599.50. The company has a strong order book of ₹4,800 crore, ensuring growth visibility. As a leader in EMS, serving sectors like automotive, healthcare, and consumer products, Syrma is well-positioned for sustained growth. Its strategic investments in facilities and the potential utilisation of unutilised IPO proceeds align with its revenue guidance of ₹4,500 crore for FY25. Motilal Oswal’s ‘buy’ call reflects confidence in Syrma’s future prospects.
