Stock Market: Nuvama recommends buying these 3 stocks, forecasting gains of up to 34%

News Topical, Digital Desk :While the stock market has seen volatility this week, experts are increasingly confident in the market's direction and strength. Amidst this positive sentiment, if you're looking to invest, consider three buy recommendations from Nuvama. The brokerage firm has issued investment recommendations on Mahindra & Mahindra (M&M), Vedanta, and APL Apollo Tubes.

Vedanta Nuvama has maintained its 'Buy' rating on Vedanta and set a target price of ₹686, implying a 34% upside from current levels. The brokerage believes Vedanta's restructuring plan (demerger of five listed companies) will be a major value trigger, especially since the final approval order is expected soon. Nuvama also says the company's focus on reducing debt and the benefit of strong commodity prices will support its earnings. APL Apollo Tubes Nuvama has a target price of ₹2,093 for APL Apollo. The stock is currently trading at around ₹1,718, implying a 21.8% upside potential. The report highlights the company's increasing focus on value-added products (VAP), expansion at key plants, and improved product mix as key positives. The brokerage stated that APL's increasing emphasis on VAP and a strong balance sheet are key positives for the company. Nuvama has also reiterated its 'Buy' recommendation on Mahindra & Mahindra and given a target price of ₹4,200. The current price is around ₹3,665, implying a potential upside of 14.6%. Nuvama estimates that both the automotive and farm machinery segments of the company could show strong growth over the next three years. The report states, "We estimate automotive segment revenue to grow at a CAGR of 15% during FY25–28, supported by strong demand for SUVs and the launch of new models." 

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