- Axis Securities names Bharti Airtel as top pick with 40% upside to Rs 2,530 target
- Broker raises December 2026 Nifty target to 27,360 based on 19.5 times earnings
- September strategy favors growth at reasonable price, overweight on key sectors
Axis Securities has named Bharti Airtel as the standout pick in its September Top Picks list, projecting a 40% upside to a target price of Rs 2,530 from the current Rs 1,812, the steepest gain forecast among the 15 stocks the brokerage is backing this month.
The brokerage has also raised its December 2026 Nifty target to 27,360, based on 19.5 times December 2027 estimated earnings, after a 0.3% upgrade to its Nifty EPS estimates for FY27 and FY28. In a bull case, where markets re-rate to 20.5 times earnings, Axis Securities sees the index at 28,770. In a bear case, valued at 16.5 times, its target falls to 23,155.
Axis Securities said its September strategy leans towards a "growth at a reasonable price" (GARP) approach, favouring quality businesses and market leaders. It remains overweight on banking, financial services and insurance (BFSI), telecom, capital goods, healthcare, auto, and power and energy, while turning more selective on midcap and smallcap stocks given stretched valuations in the broader market.
A quick look at the top stock picks for September 2026 by Axis Securities.
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Bharti Airtel apart, the brokerage's other high-conviction calls include Varun Beverages and CCL Products (India), both seen rallying 32%, followed by ICICI Bank (24%) and Bajaj Finance (23%). Dalmia Bharat and City Union Bank are each pegged for 22% gains, while Kotak Mahindra Bank and Eternal are seen rising 19%.
The remaining names on the list are Nestle India (18%), LG Electronics India (16%), Minda Corporation (14%), APL Apollo Tubes and Healthcare Global Enterprises (12% each), and Chalet Hotels (11%).
The report has flagged geopolitical tensions, elevated crude oil prices and high US bond yields as the key risks to its constructive outlook on Indian equities.
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