Jefferies Adds Major Players to India Equity Strategy: A New Growth Trajectory

Jefferies incorporates nine key companies into its India Equity Strategy, expecting substantial growth. Reliance Industries is projected for double-digit EBITDA growth by FY26, while HDFC and Mahindra & Mahindra show promising trends. The report outlines optimistic forecasts for these corporate giants, forecasting industry rebound and valuation enhancements.

Devdiscourse News Desk | Updated: 11-09-2025 18:37 IST | Created: 11-09-2025 18:37 IST

Jefferies Adds Major Players to India Equity Strategy: A New Growth Trajectory — Representative Image. Image Credit: ANI

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Jefferies has revamped its India Equity Strategy buy list by adding nine influential companies from various sectors. The esteemed American investment bank now highlights Reliance, Coforge, Siemens Energy, Adani Ports, AWL Agri, Sun Pharma, Mankind, and GMR Airports as pivotal buys.

Reliance Industries, boasting a market cap of USD 214 billion, is set for double-digit EBITDA growth in FY26. This forecast is driven by a Jio tariff hike pre-IPO, robust retail growth from GST reductions, and lucrative performance in its Oil-to-Chemicals division. The company anticipates an 11% consolidated EBITDA CAGR from FY25 to FY28.

Meanwhile, HDFC reveals a promising return to lending with improved loan-to-deposit ratios and strong asset quality. Mahindra & Mahindra eyes a resurgence, particularly within its farm division, expecting a sustainable CAGR in tractor market growth. Rate cuts, tax reductions, and enhanced liquidity are predicted to boost the auto sector.

(With inputs from agencies.)