From HDFC Bank, TCS to Bajaj Finance— InCred Equities reveals its high-conviction ideas for July; do you own any?
In its "high-conviction idea" report, InCred introduced NTPC with an additional recommendation. However, it removed Petronet LNG, Birla Corporation, and Ultratech Cement from the list.
The brokerage firm pointed out that macroeconomic high-frequency data shows weak IIP growth, credit growth and investments. However, better-than-expected progress in monsoon rains is a key positive.
"India received above-normal southwest monsoon rainfall in Jun 2025, with cumulative precipitation being 8.9 per cent higher than the long-period average (LPA). The pick-up in rain momentum helped the monsoon to cover the entire country nine days ahead of the normal date of coverage. This marked the earliest full coverage since 2020 and helped kharif crop sowing to rise by a strong 11 per cent year-on-year," InCred observed.
On the other hand, the brokerage firm highlighted that the growth in India's industrial production moderated to a nine-month low of 1.2 per cent in May 2025.
In the June quarter (Q1FY26), new investment proposals in India stood at just ₹ 4 lakh crore, a 70 per cent QoQ dip but a 38 per cent year-on-year growth on a low base, InCred said.
HDFC Bank, TCS, Bajaj Finance, Maruti Suzuki, Axis Bank, NTPC, Bajaj Auto, Shriram Finance and Lupin are the nine largecap stocks InCred Equities has "add" recommendations.
From the midcap space, InCred has 'add' recommendations on UPL, Concor and Ajanta Pharma.
Similarly, Deepak Fertilisers, Clean Science and Technology, Ethos, Skipper, Thyrocare Technologies, Camlin Fine Sciences, TCPL Packaging and Globus Spirits are the seven smallcap stocks which InCred Equities recommend adding.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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