Independent market expert Ambareesh Baliga has recommended five stocks which he said are ripe picks at their current levels even while the Iran war keeps investors unnerved. The buy calls are part of his contrarian investing strategy that involves going against prevailing market trends by investing in shares when they are underperforming or when market sentiment is negative.
Himadri Speciality Chemicals | Target: Rs 630
Himadri Speciality Chemical Ltd. is a leading integrated carbon and specialty chemical manufacturer which has built a full-stack carbon value chain — from coal tar distillation to downstream offerings like carbon black, advanced pitch, and specialty oils. Himadri has steadily shifted focus from bulk industrial products to high-margin value-added solutions.
The company also has a strong presence in export markets, contributing 30% of overall revenue. The on-going Iran war has minimal effect on Himadri since most of the raw material is sourced domestically. Himadri's balance sheet strength with Rs 371 crore net cash, high return profile of 34%, and diversified end-market exposure offer downside protection in the current market environment.
The stock is down 8% year-to-date. Ambareesh Baliga's target price of Rs 630 indicates an upside potential of nearly 40% over the previous close.
Shakti Pumps | Target Rs 900
Shakti Pumps (India) Ltd. is a leading manufacturer of solar and electricity-operated submersible pumps. The company supplies to agriculture, building services, industrial users, OEMs, and households, supported by over 500 dealers and 400 service centres in India. It also exports to more than 100 countries.
The company has a 25% market share in PM Kusum Scheme and healthy order book position of Rs 2,000 crore. It is moving from being a pure solar pump manufacturer to a diversified clean-tech solutions provider.
Baliga's target price of Rs 900 implies an upside potential of 78%. The stock has nearly halved in value from it 52-week high in June.
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Sagility | Target Rs 54
Sagility Ltd. provides operational and technology services to the healthcare industry, mainly serving health insurance companies and healthcare providers. The company handles a wide range of processes that sit behind the functioning of health plans.
Growth has picked up sharply over the past year and longer-term outlook remains encouraging. Revenue is expected to cross Rs 10,000 crore by FY28.
After a 27% correction from the 52-week high, Baliga expects the stock to have a comparable upside with the target price of Rs 54.
EMS | Target Rs 380
EMS Ltd. is an infrastructure company that builds and manages projects mainly in the water and wastewater space. Around Rs 1,100 crore worth of orders are currently in early-stage design and engineering and Rs 4,000 crore are in the pipeline.
According to Baliga, if execution holds and billing catches up as expected, the numbers should start reflecting the scale already visible beneath the surface.
His target price of Rs 380 for EMS implies a potential upside of 31%. The stock is down 58% from its recent peak.
Orkla | Target: Rs 756
Orkla India Ltd. is a packaged foods company that sells spices and convenience food products across India and several international markets. Its portfolio is built around well-known brands such as MTR and Eastern.
Around 70% of revenue comes from South India, a region with high income levels and strong packaged food consumption. South India contributes roughly 30% of India's gross domestic product and records some of the highest per-capita spending on packaged foods. The company is entering a phase where incremental improvements in distribution, product mix and channel strategy can steadily compound earnings over time.
Baliga pegged a target price of Rs 756, which shows a potential upside of 24%. The stock is down 15% since listing in November.
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