Stocks to buy for the long term: Relentless foreign capital outflow, caution ahead of Q3 earnings, geopolitical uncertainties, and a delayed India-US trade deal are keeping the domestic market in a range. The equity benchmark Nifty 50 declined for the second consecutive session on Tuesday, slipping below the 26,200 level.
Experts expect the market to remain in a range in the short term due to global factors and ahead of the Q3 FY26 results. However, for the medium term, the outlook has improved due to anticipated earnings recovery and hopes of a trade deal with the US.
Experts say the Indian stock market will remain a stock-pickers market in 2026, and betting on quality stocks with healthy fundamentals will be key to navigating volatility and uncertainty.
Vinit Bolinjkar, the head of research at Ventura, recommends five stocks for the long term. Bolinjkar sees an up to 76% upside potential in these stocks. Let’s take a look:
Stock picks for the long term
Royal Orchid Hotels | Previous close: ₹397.85 | Target price: ₹700 | Upside potential: 76%
Bolinjkar highlighted that India’s hotel industry is evolving with increased domestic travel, a demand-supply gap, and business-oriented stays.
Royal Orchid Hotels aims to expand its portfolio from 115 hotels to 345 by 2030, adopting an asset-light model with minimal initial capex through franchisee properties.
The company has a structured brand portfolio targeting all traveller segments, with a focus on upscale and budget options.
“Over FY25-28E, Royal Orchid Hotels’ revenue, EBITDA and net earnings are projected to grow at a CAGR of 24.8%, 26.2%, and 23.8%, respectively. Our FY28 price target is ₹700 (FY28 P/E of 12.6 times),” said Bolinjkar.
One 97 Communications (Paytm) | Previous close: ₹1,332.10 | Target price: ₹2,074 | Upside potential: 56%
Bolinjkar underscored that Paytm has significantly improved its business position in the past 12-15 months.
The merchant-based growth grew from 40.7 million in Q1FY25 to 47 million in Q2FY26, with payment GMV (gross merchandise value) rising from ₹4.21 trillion to ₹5.67 trillion over the same period.
Device penetration also increased from 10.9 million to 13.7 million.
The company is targeting 25-30% revenue growth and 15% EBITDA margin by FY28.
“Favourable revenue mix, cost optimisation (by using technology and AI) and operating leverage to drive profitability. Our FY28 price target is ₹2,074 (FY28 P/E of 62.8 times),” said Bolinjkar.
V-Mart Retail | Previous close: ₹695.45 | Target price: ₹1,069 | Upside potential: 54%
As per Bolinjkar, V-Mart Retail plans to expand its network from 510 to 660 stores by FY28, with a Capex of ₹350 crore.
“We project V-Mart’s revenue to grow at a CAGR of 16.1%, reaching ₹5,094 crore by FY28, driven by a 14.6% CAGR in sales volume, stable ASP (average selling price) of ₹232-241, and improved sales per square foot,” said Bolinjkar.
This growth aligns with V-Mart’s strategy of boosting sales volume while maintaining competitive pricing.
“EBITDA and net profit are expected to grow at a CAGR of 16.6% and 33.7%, respectively, with EBITDA margin rising to 12% and net margin increasing to 2.1%. Our FY28 price target is ₹1,069 (FY28 P/E of 77.6 times),” said Bolinjkar.
CESC | Previous close: ₹170.77 | Target price: ₹243 | Upside potential: 42%
Bolinjkar said CESC is entering a high-growth phase, supported by power sector reforms and a diversified portfolio across regulated distribution, thermal generation and renewables.
The company targets 3.2 GW renewables by FY29 and 10 GW by FY32, alongside a 3 GW integrated solar manufacturing facility by 2027.
Backed by ₹320 billion capex over five years, CESC aims to double PAT to ₹3,000 crore by FY30 (nearly 16% CAGR).
“We forecast strong revenue and EBITDA growth, margin expansion and sustained long-term value creation. Our FY28 price target is ₹243 (FY28 EV/EBITDA of 9 times),” said Bolinjkar.
DCB Bank | Previous close: ₹182.50 | Target price: ₹228 | Upside potential: 25%
Bolinjkar highlighted that DCB Bank is a niche, well‑capitalised private bank.
“As much as 95% of the loan book is secured and hence defaults and credit costs are expected to remain minimal, ensuring low vulnerability to credit risk, even amidst market fluctuations,” said Bolinjkar.
Bolinjkar believes the bank’s total deposits may grow at 18.9% CAGR to ₹1 trillion, while advances are expected to reach ₹85,736 crore (CAGR of 19%).
Asset quality is comfortable with GNPA around 3% and NNPA near 1.2%, while RoA is trending towards 1% with improving cost ratios and lower credit cost.
“One should buy DCB for its combination of high‑teens loan growth, improving operating leverage and risk‑adjusted profitability, still available at sub‑1 time FY26E book, offering favourable risk‑reward versus larger peers. Our FY28 price target is ₹228 (FY28 P/B of 1 time),” 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.
