Swiggy, Delhivery, IndiGo, To V-Mart: Motilal Oswal Rejigs Model Portfolio, Backs THESE 3 Themes For Growth

Driven by expectations of a domestic economic rebound, the impact of developments like GST 2.0, and earnings season, Motilal Oswal Financial Services has reshuffled its model portfolio. The brokerage has removed famous names like HCL Technologies, Angel One, and trimmed allocations in stocks like ICICI Bank and Kotak Mahindra Bank.

Swiggy, Delhivery, IndiGo, V-Mart, Max Financials, Happy Forgings, Lupin, VIP Industries, etc are among the recent additions in Motilal Oswal's model portfolio.

Motilal Oswal Portfolio: Top Exits And Additions

"Our model portfolio broadly reflects our preference for growth visibility and domestically focused plays in a still-strained global environment. We anticipate a gradual recovery in earnings by FY26, and we marginally raise our weights in domestic names," noted the brokerage in its report on Monday, October 6. Here are the full details about the recent additions and exits in MOSL's model portfolio.

IndiGo

The company is likely to benefit from the festive surge in travel demand. Given its stronghold in the market and resilience through cost control, and steady passenger growth, it is on track to see growth in the next quarter.

"Backed by early double-digit capacity growth, stable yields, a rising international mix (currently ~30% of ASKs), and improving operating leverage (from reduced damp leases and expanding wide-body routes), INDIGO is well-positioned to sustain healthy profitability," noted MOFSL.

Swiggy

Swiggy is likely to see acceleration in growth due to easing competition, moderating dark store expansion, and other factors.

"Swiggy is a beneficiary of improved execution and rising QC AOV, which strengthens growth visibility while easing competition and moderating dark store expansion, accelerating the path to breakeven," stated the brokerage in its report.

Delhivery

"Delhivery is a beneficiary of capacity additions through organic and inorganic routes, market leadership position, increasing share of high-margin part-truckload (PTL) business, and cost efficiency driven by higher scale of operations."

V-Mart

V-Mart is in demand among investors after its latest Q2 update related to store expansion and revenue growth. "V-Mart remains a formidable beneficiary of the unorganized-to-organized shift and rising preference for one-stop shops, which provide a wider assortment at competitive prices in Tier 2+ towns."

Top Themes To Dominate H2FY26

Major themes which are likely to dominate the second half of financial year 2025-26 are financials and IT services, consumption and new-age companies. The financial services firm sees that banks may see growth in H2FY26, driven by NIM expansion and higher credit growth. Meanwhile, the consumption sector is likely to expand given the impetus due to GST 2.0, income tax exemptions and festive season demand. New-age themes have remained strong with the surge of platforms like e-commerce, renewable energy, etc.

"Many new-age themes have cropped up in the past few years, and we recommend strong overweight in some of these themes, such as quick commerce, renewable energy, mobile app ecosystem-based business models, etc," as mentioned in MOSFL October Strategy.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.