Stocks to buy: Axis Bk, NTPC among high conviction picks by Incred Equities

Stocks to buy, July 2025: Amid market consolidation, InCred Equities has suggested 19 stocks to 'Add'; here are largecap, midcap, and smallcap stock ideas

Stocks to buy, July 2025: In the first half of the calendar year 2025 (H1CY25), Sensex and Nifty delivered around 7 per cent returns, despite looming trade tariffs worries and geopolitical tensions between Iran and Israel. 

 

Broader market indices mirrored the headline index and also provided investors with positive returns in the same period. In H1CY25, the Nifty Midcap 100 has gained 4 per cent, while the Nifty Smallcap rose 0.39 per cent. Given this, domestic brokerage Incred Equities remains cautious about Indian equities and prefers selected stocks for good yields. 

 

As the second half of the calendar year 2025 (H2CY25) begins, InCred Equities has adopted a 'cautious' approach.  ALSO READ | DIIs pour record ₹3.5 trillion into Indian equities in H1 CY25

Market outlook

According to the brokerage, a good monsoon so far has helped kharif crop sowing, which has risen by 11 per cent year-on-year (Y-o-Y).

 

India received above-normal southwest monsoon rainfall in June 2025, with cumulative precipitation being 8.9 per cent higher than the long-period average (LPA). The pick-up in rain momentum in the later part of the month 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. 

 

In May 2025, system loan growth moderated across most segments to 9.5 per cent Y-o-Y. The most impacted were large corporate loans (down 1 per cent) and consumer durable loans declining by 4 per cent  (Y-o-Y). 

 

The growth in India’s industrial production moderated to a nine-month low of 1.2 per cent in May 2025 owing to a slowdown in manufacturing growth along with a contraction in the mining and electricity sectors. The consumer non-durables sector contracted 2.4 per cent, the fourth consecutive month of contraction, on a relatively low base. 

 

Meanwhile, in the quarter ended June 2025, new investment proposals in India stood at just ₹4 trillion, a 70 per cent quarter-on-quarter (Q-o-Q) dip but a 38 per cent Y-o-Y growth on a low base. 

Investment ideas for July 2025 

For July 2025, Incred Equities has recommended adding 19 stocks while reducing three. Here is a list of its high-conviction ideas for July 2025: 

Largecap ideas

Axis Bank and Bajaj Auto are among the stocks with an "Add" rating by the brokerage.  

Stock	Rating	Target price(₹) per share
Axis Bank	ADD	1,430
Bajaj Auto	ADD	10,400
Bajaj Finance	ADD	1,050
HDFC Bank	ADD	2,200
InterGlobe Aviation	REDUCE	3,030
Lupin	ADD	2,400
Maruti Suzuki	ADD	13,621
NTPC	ADD	385
Shriram Finance Limited	ADD	830
Tata Steel	REDUCE	82
Tata Consultancy Services	ADD	3,589

Midcap ideas 

InCred has recommended three stocks to buy in July 2025. 

Stock	Rating	Target price(₹) per share
Ajanta Pharma	ADD	3,100
Container Corp. of India	ADD	970
UPL	ADD	1,289

Smallcap ideas

Seven smallcap stocks were given an 'Add' rating by the brokerage including names such as Ethos, and Skipper.  

Stock	Rating	Target price(₹) per share
Deepak Fertilisers & Petrochemicals Corp.	ADD	2,051
Ethos	ADD	3,400
Skipper	ADD	612
Thyrocare Technologies	ADD	1,010
Clean Science and Technology	REDUCE	683
TCPL Packaging	ADD	4,530
Camlin Fine Sciences	ADD	428
Globus Spirits	ADD	1,646