In spite of the sudden market crash in equity markets prompted by global trade tensions, leading brokerage houses have found exciting opportunities in specific Indian stocks. Companies such as Antique, Emkay Global, and InCred Equities have published positive outlooks on Trent, Delhivery, and Ashok Leyland, highlighting their strong fundamentals, aggressive growth strategies, and beneficial industry dynamics.
The Indian market crashed sharply on Monday in accordance with the international panic created by increasing trade tensions and recession fears. The BSE Sensex fell over 3,000 points, while the Nifty50 lost over 1,000 points, momentarily slipping below the key 22,000 mark within the initial 15 minutes of trade.
However, amid turmoil, senior analysts are urging investors to take a step back and look at the larger picture and target quality stocks with robust growth prospects.
Antique Retains ‘Buy’ on Trent Even After Target Reduction
Antique Broking has reaffirmed its ‘Buy’ recommendation on Trent, reducing its target price to ₹6,801 from ₹7,363, still commanding an upside of 22% over the previously traded price of ₹5,561.
The brokerage cut FY25–FY27 EPS estimates by 2% 10%, with Trent’s 28% YoY Q4 revenue growth marginally short of expectations. Nonetheless, the store expansion continues unabated. Trent opened 130 new Zudio stores and 10 new Westside stores in Q4 alone. The majority of these were opened toward the end of the quarter, and Antique anticipates their full impact to be felt in Q1 FY26.
“While the high base effect will moderate Trent’s growth momentum in the near term, the company continues to be well-placed to strongly outperform its peers over the medium to long term,” the brokerage added.
The report also highlighted that Trent is expected to continue its aggressive growth trajectory with a strategy to open about 200 new Zudio stores within the next two years.
Emkay Sees 55% Upside in Delhivery After Ecom Express Acquisition.
Emkay Global has reiterated its ‘Buy’ recommendation on Delhivery with a target price of ₹400, which implies a 55% return from the current price of ₹258.
The major in logistics recently hit the headlines by acquiring Ecom Express, the country’s second-largest B2C 3PL player, for ₹14 billion. The acquisition makes Delhivery a market leader in the industry with a 55–60% market share in the B2C express logistics segment—more than double the size of its nearest rival.
Together, the combined network already serves 97% of India’s pin codes, positioning the company for major cost synergies in the next 12–18 months. Analysts also anticipate enhanced last-mile utilization, which represents about 50% of linehaul cost now, to further boost profitability after integration.
Although the valuation seems compelling, the acquisition won’t be short-term earnings accretive. Yet, given high customer overlap and experience with the Spoton acquisition, Emkay expects easier sales retention and network integration,” the report said.
The report, however, also pointed to issues related to Meesho insourcing logistics increasingly, which would affect volume growth in the short term.
InCred Recommends ‘ADD’ in Ashok Leyland, has a Target of ₹265
InCred Equities has provided Ashok Leyland with an ‘ADD’ rating and a target price of ₹265, which indicates a possible 29% increase from its previously traded price of ₹205.
The brokerage views high growth potential in the medium and heavy commercial vehicle (MHCV) segment, specifically in the first half of FY25, due to a low base effect. This is likely to aid a 6% growth in FY26.
Along with core commercial vehicle volume sales, Ashok Leyland is also gaining traction in diversifying its revenues. The company is stepping up its play on exports, light commercial vehicles (LCVs), and spare parts, which is likely to cushion EBITDA volatility due to truck demand fluctuations.
“With early demand recovery signs, InCred continues to remain bullish on the stock,” the report continued.
Underlying Investment Themes Remains Unscathed
These tips are part of a wider optimism among analysts in some areas: fashion retail’s speedy store roll-out, consolidation in the logistics market, and diversified automotive revenue streams. All of these spaces offer promising upside potential even amid near-term volatility.
As global uncertainties continue to weigh on Indian markets, brokerage firms advise investors to target high-quality stocks with convincing long-term stories—such as Trent, Delhivery, and Ashok Leyland.
