Stock Picks: Goldman Sachs selected 5 best stocks in India, including Titan, and explained why you will get returns of up to 50%.

News Topical, Digital Desk : Global brokerage giant Goldman Sachs has released its new 'Conviction List' for the Asia Pacific (APAC) region, which includes several major Indian companies. Reliance Industries, Titan, Havells, MakeMyTrip, and PTC Industries are included in this list. The brokerage believes these stocks could see upside ranging from 14% to 54% over the next 12 months.
 

Goldman Sachs' Top 5 Indian Picks

Titan | Target ₹4,350 | Upside: 14.6%- According to Goldman, Titan is a big bet on India's affluent customers and the formalization of the jewelry sector. Growth will be sustained by the company's brand, network, and consumer upgrading trends.

Havells India – Target ₹1,740 | Upside: 18.8%- The report says that Havells is showing signs of margin expansion and growth re-acceleration. The company's FMCG-style business model and demand recovery in electric cables are expected to improve performance. 

MakeMyTrip (NASDAQ) – | Target $123 | Upside: 53.8%- Growth triggers are ready for the online travel platform. Goldman believes that EBITDA growth will accelerate, which will reduce the valuation discount. 

PTC Industries – | Target ₹24,725 | Upside: 44.1%- Goldman's biggest 'conviction' in the defense sector is on PTC. The company holds a unique position in aerospace-grade metals and titanium castings. Its earnings are projected to grow at a 123% CAGR by FY28, while EBITDA margins could reach 40%+. 

Reliance Industries (RIL) | Target ₹1,795 | Upside: 20.2% - Goldman Sachs says the company's EBITDA growth is picking up pace, and new ventures (Jio, retail, new energy) could reduce the NAV discount. 

Defense sector becomes a major theme for Goldman Sachs - Goldman Sachs has described India's defense sector as its strongest theme. According to the report, India's defense market could grow six-fold to reach ₹10 trillion in the next 20 years. Indigenization, or domestic production, will accelerate. The government targets exports worth ₹50,000 crore by FY29 (₹23,600 crore in FY25). PTC Industries and Solar Industries are projected as the two biggest winners in this theme, with high margins and a strong demand structure. 

Analyst View - Goldman Sachs analyst Amit Dixit believes that PTC Industries' "3C Strategy" (Capabilities, Contracts, Capacity) makes it a world-class player in the defense and aerospace supply chain. By FY26, the company will commission the world's largest recycled titanium capacity, which will boost both exports and profits in the long run. Five leading Indian companies are now included in Goldman Sachs' APAC Top Convictions list - a sign that global investors are showing greater confidence in India's growth story. 

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