Best Stocks to Buy Now in India (December 11, 2025): Top Picks and Market Outlook for 2026

Updated: December 11, 2025 – Educational, not investment advice.

1. Indian Stock Market Today: Context You Can’t Ignore

Indian equities are trading higher on 11 December 2025 after the US Federal Reserve cut rates by 25 bps overnight. Mid‑session, the Sensex hovered around 84,700 (up ~0.4%) and the Nifty 50 around 25,900 (up ~0.5%), with most sectors in the green. ^[1]

This follows yesterday’s mild correction, where the Sensex closed near 84,391 and Nifty 50 at 25,758 , while mid‑caps and small‑caps fell around 1% and 0.9% respectively—reminding investors that underneath the headline indices, the ride is still bumpy. ^[2]

Two big trends define today’s backdrop:

• Cautious near term, constructive medium term
  • Brokerages expect the market to trade in a range as investors digest the Fed move, monitor FII flows and track US–India trade developments. ^[3]
  • Yet domestic mutual fund SIP flows remain strong (equity SIPs near ₹29,400 crore in November), and sectorally, autos, banks and metals continue to attract buying interest. ^[4]
• A narrow, heavyweight‑driven rally
  • Analysis from Samco shows about 65% of Nifty’s 2025 rally has come from just 10 stocks , led by Reliance Industries, HDFC Bank, Mahindra & Mahindra, Larsen & Toubro and Bharti Airtel . ^[5]
  • Mid‑caps and small‑caps, in contrast, have seen much weaker participation, which explains why many retail portfolios are lagging the indices.

In other words, India is in a bull market led by a few giants , with the rest of the market still digesting past gains.

2. Nifty Forecasts for 2026: What the Street Is Pricing In

Several big brokerages have updated their India outlook this week, and they broadly agree on one thing: India remains one of the strongest growth stories globally , even if returns may moderate from here.

Kotak Securities: Nifty 32,000 in bull case

• Base case Nifty target: ~ 29,120 by December 2026 (20x FY28E EPS of ₹1,456).
• Bull case:32,032 (22x FY28E EPS) if earnings and macros surprise positively. ^[6]
• Assumptions include:
  • Nifty EPS growth: ~8% in FY26E, ~18% in FY27E, ~15% in FY28E.
  • India GDP growth around 7.8% in FY26E with strong consumption and capex.
  • CPI inflation easing towards the lower end of RBI’s band, enabling an accommodative policy (repo already cut to about 5.25% , with scope for one more cut in early 2026). ^[7]

Axis Securities: Bullish on domestic sectors

Axis Securities projects that under a “Goldilocks” scenario, the Nifty 50 could approach 29,500 by December 2026, with Nifty earnings growing at about 13% CAGR over FY23–28 , driven mainly by financials. ^[8]

Their favored themes right now:

• BFSI, telecom, consumption, hospitals and capex‑driven cyclicals
• Preference for quality domestic leaders and monopolies
• Cautious stance on export‑oriented sectors given global trade and tariff risks ^[9]

InCred Research: Overweight on Nifty, large-caps preferred

InCred maintains an Overweight view on India, with a Nifty target near 28,433 , arguing that forward P/E is only slightly above the 10‑year average. ^[10]

Key points:

• Macro backdrop: Q2 FY26 GDP growth at 8.2% , supported by ~7.9% private consumption growth and a strong festive season. ^[11]
• Style view: Large‑caps look more attractive than mid/small‑caps after the latter’s outperformance and valuation stretch.
• Sector leaders: IT, autos and pharma led gains in November, while realty, commodities and FMCG lagged. ^[12]

Bottom line on the market:
The consensus is for moderate upside (10–15% over 12–18 months) , driven by earnings rather than big re‑rating, with higher volatility and stock‑specific opportunities dominating index calls.

3. How This “Best Stocks to Buy Now” List Was Built

For this article, we’ve focused on stocks with fresh “Buy/ADD/Accumulate” calls or high‑conviction mentions from major brokerages and research desks between 8–11 December 2025 , including:

• Axis Securities, InCred Research, Kotak Securities
• Economic Times / ET Markets, LiveMint, NDTV Profit
• Business Standard, Times of India, GoodReturns and Samco

We’ve grouped ideas into:

1. Large‑cap leaders suitable as core portfolio holdings
2. Mid‑cap and sector plays backed by recent brokerage notes
3. High‑upside small‑caps for aggressive, long‑term investors

⚠️Important:This isnotpersonalized advice. “Best stock” depends on your risk profile, time horizon, asset allocation and tax situation. Treat this asresearch input, not a buy list you must copy.

4. Large-Cap Leaders: Best Blue-Chip Stocks to Consider Now

4.1 HDFC Bank (Banking – Large Cap)

Why it’s on radar

• Features in both Axis Securities’ December high‑conviction list and InCred’s large‑cap conviction basket, with InCred seeing ~18% upside to a target around ₹1,180 . ^[13]
• A key contributor to Nifty’s 2025 rally and one of India’s most valuable companies by market cap. ^[14]

Bullish thesis

• Beneficiary of strong credit growth, rising retail penetration and a benign credit cycle.
• As per large‑cap screeners, trades just above 20x earnings and around 3x book , which is rich vs PSU banks but reasonable for a market‑leading private bank. ^[15]

Key risks

• Integration and execution risk post merger, regulatory scrutiny and competition in retail & SME lending.
• Any macro slowdown that hits credit growth or asset quality.

4.2 TCS (IT Services – Large Cap)

Why it’s on radar

• Part of InCred’s high‑conviction large‑cap list with an ADD rating and ~15% upside to a target around ₹3,663 . ^[16]
• Among the top 5 Indian companies by market cap, with a long track record of dividend payouts and high ROE. ^[17]

Bullish thesis

• Beneficiary of global cloud, AI and digital transformation spending.
• Strong balance sheet, wide client base, and high-margin business support even resilience during global slowdowns.

Key risks

• US and Europe tech budgets are cyclical; a deeper global slowdown could delay deal ramp‑ups.
• Currency movements can swing reported earnings.

4.3 Bajaj Finance (NBFC – Large Cap)

Why it’s on radar

• High‑quality lender that appears in both Axis Securities’ December picks and InCred’s large‑cap conviction basket , with InCred estimating ~22% upside. ^[18]

Bullish thesis

• Strong franchise in consumer, SME and housing finance with deep data analytics and cross-sell capabilities.
• High growth in AUM and profitability; a favorite structural “compounder” for many analysts.

Key risks

• Valuation is elevated (P/E above 30x on some estimates), leaving less room for disappointment. ^[19]
• Sensitive to regulatory changes on NBFCs and any uptick in delinquencies.

4.4 Maruti Suzuki (Autos – Large Cap)

Why it’s on radar

• InCred maintains an ADD rating with a target near ₹17,677 , implying about 10% upside. ^[20]

Bullish thesis

• Market leader in passenger vehicles with a strong pipeline in SUVs and hybrids.
• Benefits from rising incomes, urbanization and replacement demand.

Key risks

• Competition from Tata Motors, M&M and new EV entrants.
• Cyclicality: demand could soften if interest rates or fuel prices spike again.

4.5 Axis Bank (Banking – Large Cap)

Why it’s on radar

• Another ADD‑rated bank in InCred’s large‑cap list, with ~18% upside potential. ^[21]

Bullish thesis

• Improving asset quality and profitability after a multi‑year clean‑up.
• Leverage to corporate capex recovery and retail credit growth.

Key risks

• Competition from other private banks and PSU banks in both deposits and advances.
• Macro or credit shock could slow the turnaround.

4.6 Tata Steel (Metals – Large Cap, Cyclical)

Why it’s on radar

• InCred assigns an ADD here too, with one of the highest upside estimates in its large‑cap universe—around 34% potential. ^[22]

Bullish thesis

• Leveraged to both India’s infra build‑out and global steel cycles.
• Deleveraging progress and volume growth can support earnings if steel prices remain firm.

Key risks

• Highly cyclical: global slowdown, China overcapacity or price corrections can hurt.
• Environmental regulations and capital intensity.

4.7 Bharti Airtel (Telecom – Large Cap)

Why it’s on radar

• Named in Axis Securities’ December large‑cap picks alongside HDFC Bank and Bajaj Finance. ^[23]
• Among the top 5 most valuable Indian companies by market cap. ^[24]

Bullish thesis

• Beneficiary of tariff hikes, rising ARPU, 4G/5G upgrades and data consumption growth.
• Leading position in India plus African operations for geographic diversification.

Key risks

• Competitive intensity (especially pricing moves by Jio or Vodafone Idea).
• High capex needs and regulatory changes in spectrum/AGR.

4.8 State Bank of India (PSU Bank – Large Cap)

Why it’s on radar

• Included in Axis Securities’ list of high‑conviction large‑caps for December. ^[25]
• FE large‑cap screener shows SBI trading at a P/E near 11x and P/B under 2x , cheaper than most private banks despite being India’s largest lender. ^[26]

Bullish thesis

• Cleaner balance sheet, improving return ratios and strong market share in deposits and advances.
• Leverage to India’s credit cycle and capex upturn.

Key risks

• As a PSU, it is exposed to policy‑driven lending at times.
• Asset quality pressures in SME/agri segments during downturns.

5. Mid-Cap & Sector Plays with Fresh “Buy” Calls

5.1 Eicher Motors (Two-Wheelers – Large/Mid Cap)

Why it’s on radar

• Bank of America (BofA) has turned bullish on India’s two-wheeler space and calls Eicher Motors its strongest growth pick , retaining a Buy rating with a target around ₹7,750 . ^[27]
• Religare Broking (via Business Standard) also lists Eicher as a Buy today with a target near ₹7,900 , highlighting its strong up‑trend and fresh all‑time highs. ^[28]

Bullish thesis

• Premium motorcycle demand (Royal Enfield) aided by GST cuts on premium bikes and rising affordability.
• BofA expects two‑wheeler industry volumes to grow around 8% YoY into FY26, with premiumization and exports supporting margins. ^[29]

Key risks

• Sector has already rallied 45–50% YTD (ex‑Bajaj Auto), so valuation comfort is not huge. ^[30]
• Rural slowdown or competitive launches could impact demand.

5.2 ICICI Prudential Life & Cholamandalam Investment (Financials – Mid/Large Cap)

Both stocks are in focus today across multiple trading desks:

• ICICI Prudential Life Insurance
  • Nuvama and Religare have fresh Buy calls, with Business Standard citing a target around ₹705 after a breakout from a multi‑month consolidation. ^[31]
  • Technical setup shows a move above key moving averages and a stronger RSI, reinforcing the uptrend view. ^[32]
• Cholamandalam Investment & Finance
  • Nuvama’s Aakash Hindocha (via Times of India) recommends it as a Buy with a bullish flag breakout on the charts, targeting further upside from current levels. ^[33]

These sit at the intersection of structural growth + favorable technicals , but are still more trading‑oriented than slow‑and‑steady compounders like HDFC Bank.

5.3 Siemens & Coforge (Capex + IT – 12-Month Ideas)

In a fresh ET Markets slide‑show titled “Stocks to buy for 2026” , brokerages highlight five stocks with double‑digit 12‑month return potential, including: ^[34]

• Siemens – JM Financial has an ADD rating with a target around ₹3,480 , implying ~10% upside.
• Coforge – Elara Capital has an Accumulate call with a target near ₹2,120 , about 13% upside from current levels.

Themes

• Siemens: Plays on industrial automation, electrification and India’s capex & manufacturing push.
• Coforge: Mid‑tier IT services player with domain strength in BFSI, travel and insurance.

Risks

• Cyclical capex slowdown could hit Siemens.
• Global IT spending cycles, currency and mid-cap volatility could impact Coforge.

5.4 Neuland Laboratories & JSW Infrastructure (High-Growth Niche Plays)

The same ET Markets piece flags two higher‑upside ideas: ^[35]

• Neuland Laboratories – Nuvama reiterates Buy with a target around ₹22,130 , implying roughly 32% upside.
• JSW Infrastructure – Nuvama has a Buy with a target near ₹360 , ~ 35% potential from current levels.

Why they matter

• Neuland Labs: Specialty pharma / APIs with operating leverage if global demand holds up.
• JSW Infra: Port and logistics play on India’s trade and infrastructure growth.

Risks

• Regulatory and pricing pressures in pharma.
• Project execution, regulatory and trade‑cycle risks in infrastructure.

5.5 Container Corporation of India, Apollo Tires & Ajanta Pharma (InCred Mid-Cap Picks)

InCred’s December note highlights three mid‑caps: ^[36]

• Container Corporation (Concor) – strongest mid-cap idea with upside above 50% , linked to logistics modernization and dedicated freight corridors.
• Apollo Tires – beneficiary of auto demand recovery and replacement cycle.
• Ajanta Pharma – supported by strong technicals and improving fundamentals with ~19% upside potential.

These fit growth‑plus‑value mid‑cap buckets but will typically be more volatile than the large‑cap ideas.

6. High-Upside Small-Cap Stocks (For Aggressive Investors Only)

In the small‑cap space, InCred Research flags several names with eye‑popping upside estimates — but these come with higher business and liquidity risk. ^[37]

6.1 Thyrocare Technologies

• Rating: ADD
• Estimated upside: about 223% , the highest in InCred’s universe.
• Theme: diagnostics and preventive healthcare, benefiting from rising health awareness and penetration.

6.2 Camlin Fine Sciences

• Rating: ADD
• Estimated upside: roughly 200% .
• Theme: niche specialty chemicals with potential operating leverage if demand scales up.

6.3 Deepak Fertilizers, Globus Spirits, TCPL Packaging, VRL Logistics

• Expected upside ranges roughly 19–78% across these small‑caps, covering fertilizers, alcobev, packaging and logistics. ^[38]

⚠️Important small‑cap caveat:
These stocks can be illiquid, volatile and highly sensitive to quarterly newsflow. Brokerage upside numbers arescenarios, not guarantees. For most investors, such names should form only asmall, satellite portionof an otherwise diversified portfolio.

7. Short-Term Trading Ideas in Focus Today (December 11, 2025)

If you’re a short‑term trader rather than a long‑term investor, several intraday/positional ideas are circulating today:

• Eicher Motors & ICICI Prudential Life – Buy ideas from Religare (Business Standard) with defined stop‑loss and targets. ^[39]
• Cholamandalam Investment & ICICI Prudential Life – Buy calls from Nuvama (Times of India) for today’s session, and Ambuja Cements as a sell with a breakdown noted on the charts. ^[40]
• Earlier this week, SBI Securities highlighted AB Capital and Indus Towers as top picks for the week of 8–12 December, alongside a bullish technical view on Nifty and Bank Nifty. ^[41]

These are tactical calls , typically for days or weeks, and require disciplined risk management and close monitoring.

8. How to Use These “Best Stocks” in a Real Portfolio

Given today’s environment— narrow rally, elevated valuations, strong domestic inflows but weak breadth —a sensitive approach might be:

1. Build a core around quality large‑caps
   • Names like HDFC Bank, TCS, Bajaj Finance, Bharti Airtel, SBI, Maruti Suzuki and Axis Bank can anchor the portfolio if they fit your risk profile.
2. Add selective sector/mid‑cap exposure
   • Consider Eicher Motors, Siemens, Coforge, Neuland Labs, JSW Infra, Concor, Apollo Tires or Ajanta Pharma in moderation for growth.
3. Treat small‑caps as satellite, high‑risk bets
   • Ideas like Thyrocare or Camlin Fine Sciences may be interesting only if you:
     • Have a multi-year horizon
     • Can tolerate 40–60% drawdowns
     • Keep position sizes small
4. Stagger entries instead of going all in
   • With Nifty near all‑time highs and heavyweights driving most of the gains, SIP‑style staggered buying or buying on corrections can help manage risk.
5. Diversify across sectors and market caps
   • Don’t overload on a single sector (for example, only banks or only autos) just because that’s where most “buy” reports are coming from.

9. Final Word & Disclaimer

India’s stock market on December 11, 2025 looks like a textbook case of a mature bull market :

• Macros and earnings are supportive.
• Brokerages see decent, but not spectacular, upside over the next 12–18 months.
• Large‑cap leaders continue to dominate index gains while mid/small‑caps are trying to catch their breath.

The stocks highlighted above are “best ideas” as per leading brokerages right now , not a guaranteed winning formula. Before buying anything:

• Match ideas to your time horizon (trader vs long‑term investor)
• Check valuation, sector exposure and diversification
• Consider consulting a SEBI‑registered investment adviser for personalized allocation and risk management.

References

1. www.business-standard.com, 2. www.goodreturns.in, 3. www.goodreturns.in, 4. m.economictimes.com, 5. www.samco.in, 6. m.economictimes.com, 7. m.economictimes.com, 8. www.livemint.com, 9. www.livemint.com, 10. www.livemint.com, 11. www.livemint.com, 12. www.livemint.com, 13. www.livemint.com, 14. www.samco.in, 15. www.financialexpress.com, 16. www.livemint.com, 17. www.financialexpress.com, 18. www.livemint.com, 19. www.financialexpress.com, 20. www.livemint.com, 21. www.livemint.com, 22. www.livemint.com, 23. www.livemint.com, 24. www.financialexpress.com, 25. www.livemint.com, 26. www.financialexpress.com, 27. www.ndtvprofit.com, 28. www.business-standard.com, 29. www.ndtvprofit.com, 30. www.ndtvprofit.com, 31. www.business-standard.com, 32. www.business-standard.com, 33. timesofindia.indiatimes.com, 34. m.economictimes.com, 35. m.economictimes.com, 36. www.livemint.com, 37. www.livemint.com, 38. www.livemint.com, 39. www.business-standard.com, 40. timesofindia.indiatimes.com, 41. timesofindia.indiatimes.com