- Jefferies issued a report with 23 bullish stock picks amid market turmoil in March 2026
- Nifty fell 8% in one month due to the ongoing Middle East conflict impacting markets
- Seven new companies, including SBI and Max Healthcare, were added to Jefferies' 'buy' list
The markets have been in a nosedive and amidst this turmoil Jefferies has come out with a report on 23 stocks they are bullish on. Their India Strategy report for March 2026 curates bottom-up ideas when the Nifty has fallen 8% in one month, courtesy the ongoing conflict in the Middle East.
Jefferies' latest portfolio restructuring features 23 top 'buy' recommendations and eight "underperform" calls, with the brokerage firm injecting fresh momentum into its buy category by adding seven new companies.
State Bank of India (SBI), Star Health, Groww, Bharat Forge, JSW Steel, Eternal, and Max Healthcare. These fresh inclusions join heavyweight stalwarts already favoured by the brokerage, including HDFC Bank, Bajaj Finance, and Hindustan Aeronautics.
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Logistics firm Delhivery was notably upgraded from an "Underperform" to a "Buy" rating, while pharmaceutical company Laurus was bumped up to a "Hold."
On the other hand, the brokerage identified new headwinds for several major players. Jefferies initiated "Underperform" ratings for automaker Hyundai Motors, tech giant Wipro, and drugmaker Cipla. These new additions join five other companies, including Tata Power and Tech Mahindra, in the underperform tier.
Here is the complete list of Jefferies' top bottom-up analyst ideas.
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