Stocks to buy for long term: Bharti Airtel to M&M— Prashanth Tapse recommends 5 stocks to buy today, sees 32-59% upside

Stocks to buy for the long term: The Indian stock market is experiencing a rough phase due to various factors, including heavy foreign capital outflow, heightened concerns over a major trade war, and signs of weakness in the domestic economy.

The benchmark Nifty 50 index is now 14 per cent below its peak of 26,277.35, reached on September 27 last year. However, the index recovered in March, gaining about 2 per cent month-to-date after five consecutive months of losses.

However, experts expect the domestic market to remain volatile in the short term, given the ongoing uncertainty over the impact of US President Donald Trump's policies on the global economy.

The upcoming Q4 earnings season, key macroeconomic data, and Trump's tariff moves will shape market trends for the rest of the year.

Buying quality stocks at attractive valuations is a proven way to build long-term wealth. With uncertainty still high, Prashanth Tapse, Senior VP of Research at Mehta Equities, suggests investing in quality stocks for the long term. Here are five stocks he recommends buying today:

Stocks to buy today

Bharti Airtel | Previous close: ₹1,662.95 | Target price: ₹2,000 and ₹2,200 | Stop loss: ₹1,450 | Upside potential: 32%

"We are very optimistic about Bharti Airtel as it is a leading global telecommunications company operating in 18 countries serving over 352 million customers in India and more than 210 million globally," said Tapse.

In Q3FY2025 Bharti delivered best average revenue per user (ARPU) at ₹245, which was the highest among its competitors and ARPU is expected to continue to grow as the full impact of the tariff hikes takes place in company months.

In the near term the company may also explore possible updates on direct-to-home (DTH) business which can be the next big trigger in the space.

Mahindra & Mahindra (M&M) | Previous close: ₹2,645.60 | Target price: ₹3,200 and ₹3,500 | Upside potential: 32%

Tapse said M&M has best in class diversified business portfolio operating in various sectors, including automotive, farm equipment and financial services complementing each other to market fluctuations.

Newly introduced electric SUVs, the BE 6e and XEV 9e, are capturing a significant share of India's growing compact EV SUV market.

"We believe this can be a game changer in the electric vehicle market due to its combination of futuristic design, powerful performance, advanced technology with competitive price point, setting a new standard in the segment," said Tapse.

"With robust financial performance, strategic focus on electric mobility along with diversified business operations present a strong rationale for long-term investment," Tapse said.

SBI Cards and Payment Services | Previous close: ₹838.60 | Target price: ₹1,050 and ₹1,150 | Stop loss: ₹750 | Upside potential: 37%

"We believe SBI Cards offers a lucrative investment opportunity, driven by its position as India’s second-largest credit card issuer with 1.96 crore cards in force. We think the company's consistent growth of over 9 lakh cards per quarter highlights its robust market presence," said Tapse.

Leveraging its affiliation with SBI, a trusted banking brand, SBI Cards benefits from reduced customer acquisition costs and unparalleled access to a vast and growing customer base, particularly in underpenetrated tier-2 and tier-3 cities.

Tapse believes India’s credit card penetration, at just 4.62 per cent of the population, offers significant growth potential as digital payments and cashless transactions rise.

SBI Card is a pure play in the credit card issuer business, which is now in a sweet spot to garner a rise in consumption trend opportunities lying ahead post-income tax change in FY 25-26.

"In industry growth, we have also seen spending per credit card increase the highest in the recent few months amid rise in net card additions, which is also at a four-month high; hence, future growth looks very optimistic," Tapse noted.

JSW Infrastructure | Previous close: ₹265.05 | Target price: ₹350 and ₹400 | Stop loss: ₹215 | Upside potential: 51%

Tapse underscored JSW Infrastructure is well-positioned to capitalise on the country's infrastructure growth.

From a 170 MTPA capacity, the company aims to become India’s leading integrated ports and logistics player by 2030, increasing its cargo handling capacity to 400 million tonnes per annum (MTPA).

Key initiatives company has pencilled down an estimated capex of ₹30,000 crore for FY25-30, including brownfield projects with capacity enhancements at Jaigarh, Dharamtar, and Goa.

"With these rationales, JSW Infra presents a convincing case for long-term investment from current levels," said Tapse.

Lemon Tree Hotels | Previous close: ₹126.05 | Target price: ₹175 and ₹200 | Stop loss: ₹105 | Upside potential: 59%

"We are bullish on the hospitality sector, which is experiencing a favourable high demand, limited supply scenario and continue to expect the trend to continue, benefiting companies like Lemon Tree as it is the best in class asset-light hospitality stock available with the best valuation parameter," said Tapse.

In the near term, Lemon Tree also plans to list its subsidiary, Fleur Hotels, which will help Lit become debt-free. This move is expected to improve Lemon Tree's financial stability and enhance shareholders' value.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.