Axis sets Nifty 27,220 target, backs nine Indian largecaps
Axis Securities has set a December 2026 Nifty target of 27,220, betting that India's domestic consumption and financial sectors will shield the market from global volatility.
Axis Securities has set a December 2026 target of 27,220 for India’s Nifty index, implying a 13% upside from current levels. The brokerage expects the Indian economy to act as a relative safe haven amid ongoing global economic turbulence. This macro view underpins a newly released list of nine large-cap stocks the firm expects to outperform.
The selection leans heavily on India’s internal demand drivers, specifically financial services and consumer spending. For international investors, the picks highlight where domestic brokers see the most durable earnings growth in a shifting global landscape. Retail lending, telecom infrastructure, and daily consumer goods dominate the recommendations.
Lenders form the core of the financial bets. ICICI Bank carries a target price of Rs 1,700, representing a 21% upside, supported by its strong liability franchise. Kotak Mahindra Bank has a target of Rs 500, translating to a 32% potential gain, while Bajaj Finance is pegged at Rs 1,160 for a 15% rise.
Consumption plays feature prominently in the outlook. Avenue Supermarts, operator of the DMart grocery chain, received the highest implied upside at 34.5% with a Rs 5,270 target. Telecom giant Bharti Airtel is pegged at Rs 2,530 for a 31% upside. Fast-moving consumer goods are represented by Nestle India, with a 15.3% upside to Rs 1,640, and LG Electronics India, targeting a 19% rise to Rs 1,815.
The recommendations also include asset-light and franchise models. Eternal, which aggregates demand and supply across platforms including Zomato and Blinkit, has a target of Rs 360 for a 26% upside. Varun Beverages, the second-largest PepsiCo franchisee globally outside the US, rounds out the selection with a target of Rs 630 and a 34% implied upside.
