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Macquarie Recommends Four Capital Market Stocks with Up to 39% Upside
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CNBC TV18•24-09-2026, 08:05
Macquarie Recommends Four Capital Market Stocks with Up to 39% Upside
- •Macquarie initiated coverage on five capital market names, recommending four with "outperform" or "buy" ratings.
- •Groww shows the highest upside potential at 39%, while others range from 11% to 22%.
- •Macquarie rates NSE as "The Dominator" due to its market share and comprehensive services, projecting an 11% upside.
- •BSE, dubbed "The Challenger," receives an "outperform" rating with a 22% upside, driven by its pivot to index options and platform expansion.
- •MCX, called "The Phoenix," is rated "outperform" with a strong price target, while Angel One receives a "neutral" rating due to competitive challenges.
Key Questions Answered
Macquarie assigned an outperform rating to Billionbrains Garage Ventures, the parent company of trading platform Groww, with a price target of ₹260, which implies an upside potential of 39%—the highest among the five covered capital market stocks.
Macquarie initiated coverage on Angel One with a neutral rating and a price target of ₹285, anticipating challenges such as heightened competition, high earnings sensitivity to lower volumes, and a substantial proportion of float income.
Macquarie considers the National Stock Exchange (NSE) to be the lynchpin of India's financialization due to its leading market share, full service offering, robust technology stack, deep liquidity, industry-leading profitability, and strong cash generation.
