The markets are relatively muted, but investors are keen about potential opportunities to invest in. Leading international brokerage house, Jefferies, has a ‘Buy’ rating on some key stocks in focus, projecting up to 28% upside from current levels.

Here is a detailed analysis of the top 4 picks from Jefferies at this hour, and the investment rationale

Jefferies on Indian Oil Corporation: ‘Buy’

Jefferies maintained its ‘Buy’ rating on Indian Oil Corporation and raised its price target to Rs 180 from Rs 160, indicating a 20% potential upside from Rs 150. The brokerage said the company’s September-quarter EBITDA at Rs 14,600 crore was 33% above its estimate, helped by strong refining margins. Reported gross refining margins averaged $10.7 per barrel, nearly $6.8 above the Singapore benchm

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