Yes Securities has unveiled its top stock picks for July 2025, emphasizing structurally strong businesses with high earnings visibility and favorable macro tailwinds. Indian equity markets continued their recovery through June, supported by easing macro volatility, declining oil prices, positive trade developments, and improved investor sentiment. As of June, the Nifty 50 rose 15 percent since February 2025 lows, while Midcap and Smallcap indices surged 25 and 29 percent respectively, signaling broad-based bullish momentum.
Amber Enterprises: A High-Conviction Bet on Electronics and Green Tech
Yes Securities said Amber Enterprises remains a compelling buy with a 12-month target price of ₹9,187, implying a 25 percent upside from its previous close of ₹7349.25. The company is a leading contract manufacturer for room air conditioners (RACs), serving top brands like LG, Voltas, and Blue Star. It operates 23 manufacturing facilities and has aggressively diversified into backward integration, electronics, and green technology.
According to Yes Securities, Amber’s acquisition of Power-One Micro Systems strengthens its presence in EV charging, solar inverters, and battery energy storage. The company is also investing in India’s first HDI PCB manufacturing unit through a JV with Korea Circuit. Despite temporary macro headwinds, management expects demand normalization by Q3FY26, supported by festive tailwinds and industry outperformance. Amber’s disciplined capital allocation, net debt control, and plans for demerging its electronics vertical further strengthen its investment appeal, Yes Securities said.
IndiGo: Dominance in Indian Skies with Global Ambitions
Yes Securities has a “Buy” rating on InterGlobe Aviation (IndiGo) with a target of ₹6,903, indicating a 20 percent upside. IndiGo commands a dominant 64 percent market share in India’s domestic aviation sector and operates a lean, cost-efficient model with one of the youngest fleets in the world.
Yes Securities said that IndiGo is well-positioned to ride India’s aviation supercycle, with increasing passenger demand, government support for airport infrastructure, and a massive 955-aircraft order book. The company is rapidly scaling its international presence and aims to increase international ASK share from 30 percent in FY25 to 40 percent by FY30. With limited competition and secure aircraft deliveries, IndiGo stands to benefit from improved pricing power. Ancillary revenues now contribute 15 percent of its topline and are expected to grow faster than passenger revenues, making the airline a high-growth, high-moat opportunity.
Mahindra & Mahindra: Rural Demand and EV Ambitions Drive Growth
Mahindra & Mahindra (M&M) also features on Yes Securities’ July buy list with a target of ₹3,796, offering a potential 20 percent upside from the previous close of ₹3161.75. The company delivered a strong FY25 performance with standalone revenues of ₹1.18 lakh crore and EBITDA of ₹18,416 crore, driven by its leadership in tractors, utility vehicles, and LCVs.
Yes Securities highlighted M&M’s growing market share across segments and its 17-model product pipeline by FY30, including five new SUVs. The company is aggressively ramping up EV production with capacity for 1.2 lakh units at Chakan and aims to expand its CV business via its stake in SML Isuzu. With strong internal accruals, a declining debt profile, and strategic investments, M&M is well-positioned for sustained growth in both domestic and international markets, Yes Securities said.
Caplin Point: Niche Pharma Player with Global Reach
Caplin Point Laboratories rounds out Yes Securities’ top picks for July, with a 12-month target price of ₹2,422, implying a 20 percent upside from previous close of ₹2017.30. The company operates in over 23 countries and has a strong presence in Latin America and Africa, complemented by a growing foothold in regulated markets like the US and Canada.
Yes Securities said Caplin Point’s subsidiary, Caplin Steriles, is expected to receive 10-12 ANDA approvals and launch over 15 own-label products in FY26. The company is investing over ₹1,000 crore to deepen integration, scale API capacity, and enhance its high-value product pipeline, including GLP-1s and oncology drugs. With strong FY25 earnings, 36.5 percent EBITDA margins, and ₹1,180 crore in cash reserves, the company remains debt-free and fundamentally robust. Its minimal reliance on Chinese APIs provides further resilience.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
