Stocks to buy for the long term: The domestic market has been witnessing a range-bound movement in December so far. Benchmark Nifty 50 is down by more than 1% for the month, looking set to snap its three-month winning streak. The Nifty 50 is up about 9% year-to-date.
Experts believe that the market may remain lacklustre until the December quarter earnings start coming out and an India-US trade deal is announced. However, the market may see healthy growth in the next year due to expected earnings growth and healthy growth-inflation dynamics.
Vinit Bolinjkar, the head of research at Ventura, said for 2026, the Nifty 50 outlook remains constructive, supported by a combination of steady tax revenues, a stable GST regime, rising disposable income and an anticipated US trade deal that should sustain both consumption and corporate earnings.
On the technical and valuation front, Bolinjkar believes a close above 26,300 will be a very important technical trigger and is likely to confirm a fresh upward trend for the index over the next 12 months, which coincides with a healthy earnings yield and strong domestic institutional and retail flows.
“Assuming continued policy continuity and no major global shock, Nifty can reasonably work its way towards the 29,000 level by the end of FY26, implying mid‑teens upside over the next 12 months. This upside would likely be driven more by earnings growth than by re‑rating, which keeps the risk‑reward profile favourable for long‑term investors,” said Bolinjkar.
Top value stocks to buy for the long term
Vinit Bolinjkar lists 10 value stocks to buy for the next two years below. Let’s take a look at their two-year target prices and investment rationale:
Adani Power | Previous close: ₹143.15 | Target price: ₹850 | Upside potential: 494%
Bolinjkar recommends Adani Power for robust power demand, capacity expansions, and margin improvements.
Thermal and renewables mix benefits from energy security policies, with earnings turnaround projecting strong FY26 growth and attractive valuations, Bolinjkar said.
Adani Green Energy | Previous close: ₹1,021.25 | Target price: ₹2,142 | Upside potential: 110%
Adani Enterprises is Bolinjkar’s long-term pick due to Vision 2028, targeting 140 MTPA capacity, green energy at 60%, and EBITDA/ton of ₹1,500 via capex of ₹9,000-10,000 crore in FY26.
Airport and infra expansions drive revenue diversification, leveraging India’s growth story for multibagger potential amid stable macros, said Bolinjkar.
One 97 Communications (Paytm) | Previous close: ₹1,268.25 | Target price: ₹2,074 | Upside potential: 64%
Ventura sees Paytm as a fintech turnaround with FY28 P/E of 36.9 times, driven by regulatory clarity, user growth, and monetisation.
Royal Orchid Hotels | Previous close: ₹384.40 | Target price: ₹600 | Upside potential: 56%
Royal Orchid Hotels is benefiting from strong demand, higher room rates and an asset‑light expansion strategy.
The broader thesis rests on sustained growth in domestic tourism, improving occupancy across its managed and owned properties, and operating leverage as fixed costs are better absorbed, said Bolinjkar.
Capri Global Capital | Previous close: ₹178.75 | Target price: ₹274 | Upside potential: 53%
Ventura has a buy call on CGCL at 2.8 times FY28 P/ABV for NBFC growth in lending, asset quality improvements, and yield enhancements amid a consumption uptick.
Ambuja Cements | Previous close: ₹541.15 | Target price: ₹794 | Upside potential: 47%
According to Bolinjkar, capacity expansion under the Adani Group’s push towards 140 MTPA by 2028, and cost‑optimisation (especially on power and fuel) are expected to lift EBITDA/ton, improve net margins and drive a meaningful improvement in return ratios over the medium term.
V-Mart Retail | Previous close: ₹757.35 | Target price: ₹1,069 | Upside potential: 41%
Ventura forecasts 16% revenue CAGR to FY28 via store expansions and margin gains in value retail. Rural focus thrives on disposable income rises for DCF-based 41% upside.
Adani Ports and Special Economic Zone | Previous close: ₹1,485.90 | Target price: ₹1,900 | Upside potential: 28%
Adani Ports and Special Economic Zone is in Bolinjkar’s long-term list due to volume growth, tariff hikes, and port expansions. Strategic acquisitions enhance throughput, supported by trade recovery and infra capex for 20%+ CAGR in a logistics boom.
Bajaj Finserv | Previous close: ₹2,021.20 | Target price: ₹2,200 | Upside potential: 9%
Ventura tracks Bajaj Finserv’s strength in top gainers, with NBFC lending, insurance cross-sell, and deposit growth projecting 20% upside from GST efficiencies and rural revival.
SBI | Previous close: ₹975.90 | Target price: ₹1,050 | Upside potential: 8%
Ventura picks SBI for deposit mobilisation, NIM stability, and retail lending surge. PSB (public sector banks) consolidation and digital push yield profitability gains, undervalued with upside from economic recovery, said Bolinjkar.
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert, 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.
