Winning Bets for 2026: 10 Stocks with Upside Potential of Up to 36%
After delivering nearly 10% returns in 2025, the outlook for the Nifty in 2026 appears increasingly optimistic. The benchmark index is projected to rise 13% to 29,731, supported by improving macroeconomic indicators, stronger Q2 GDP growth, easing inflation, and a slowdown in corporate earnings downgrades, according to Nilesh Jain, Head VP – Equity Research at Centrum Broking.
Against this backdrop, Centrum Broking has identified 10 fundamentally strong stocks that could deliver up to 36% upside over the next year.
Belrise Industries
Buy at ₹185 | Target: ₹240 | Upside: 30%
Belrise Industries is Centrum Broking’s sole pick from the auto sector. The company is a leading manufacturer of automotive components in the two-wheeler segment. Its acquisition of H-One India is seen as a strategic move that strengthens core manufacturing capabilities and enhances long-term growth prospects.
Bharat Electronics (BEL)
Buy at ₹403 | Target: ₹520 | Upside: 29%
The Navaratna PSU commands a 37% market share in India’s defence electronics space. BEL’s outlook for FY26 remains strong, backed by a robust order book of ₹74,453 crore as of October 1, 2025, ensuring solid revenue visibility and sustained growth.
BSE Ltd
Buy at ₹2,667 | Target: ₹3,300 | Upside: 24%
Asia’s oldest stock exchange plays a crucial role in India’s financial ecosystem. BSE is focusing on expanding institutional participation in equity derivatives, which is expected to boost liquidity and support long-term growth in index futures trading.
CAMS
Buy at ₹755 | Target: ₹930 | Upside: 23%
CAMS continues to dominate the mutual fund RTA industry, holding a 68% market share. Nearly 70% of its operating revenue comes from this segment. Assets under management serviced by CAMS have grown at a 19% CAGR between FY20–FY25, while equity AUM has expanded at an even faster 21% CAGR.
Eureka Forbes
Buy at ₹624 | Target: ₹846 | Upside: 36%
Eureka Forbes is the market leader in electric water purifiers and vacuum cleaners, with market shares of 45% and 60%, respectively. The company is well-positioned to benefit from strong industry tailwinds, continued margin expansion, and significant growth potential in its after-sales services segment.
HBL Engineering
Buy at ₹937 | Target: ₹1,093 | Upside: 17%
HBL Engineering operates across specialised batteries, railway electronics, defence electronics, and EV charging infrastructure. The company’s technology-focused approach and approval as a supplier for Kavach 4.0 strengthen its long-term growth outlook.
Himadri Speciality Chemical
Buy at ₹494 | Target: ₹550 | Upside: 11%
Himadri is India’s largest manufacturer of coal pitch and the only domestic company producing advanced carbon materials. Strong financial performance, capacity expansion, and entry into higher-value products are expected to drive steady revenue growth.
Hindustan Aeronautics (HAL)
Buy at ₹4,418 | Target: ₹6,000 | Upside: 36%
HAL is India’s largest aerospace and defence PSU and a key pillar of the Atmanirbhar Bharat initiative. With a strong competitive moat and an order book of ₹1.8 lakh crore at the end of Q2 FY26, the company offers exceptional long-term visibility.
Hindustan Copper
Buy at ₹542 | Target: ₹650 | Upside: 20%
One of the top-performing metal stocks of 2025, Hindustan Copper is engaged across the entire copper value chain—from mining to finished products. hindustan copper share price The company enjoys a monopoly in copper mining in India, offering strategic importance and earnings stability.
KFin Technologies
Buy at ₹1,084 | Target: ₹1,330 | Upside: 23%
KFin Technologies is a leading technology-driven financial services platform providing solutions to asset managers and corporate issuers. Its RTA business continues to maintain market share, while strong financial performance supports a positive growth trajectory.
