TOP 15 Stocks to Buy in July 2026: Axis Securities Picks Bajaj Finance, ICICI Bank, Bharti Airtel and More

Indian equities made a strong comeback over the past month despite near-term market volatility.

While the Nifty 50 gained 1.35% during the month, broader markets outperformed. The Nifty Smallcap 250 rose 4.3%, while the Nifty Microcap 250 advanced 6.35%. Brent crude also cooled to around US$73 per barrel after briefly approaching US$100, easing concerns over inflation and India's import bill.

quarter results, citing weaker outlooks for sectors such as FMCG, IT, oil & gas, financials and cement.

Axis Securities released its list of top stock picks for July 2026 across large-cap, mid-cap and small-cap segments.

Large-Cap Picks

Financial stocks are in the list with Bajaj Finance, Kotak Mahindra Bank and ICICI Bank

Axis expects Bajaj Finance to maintain healthy loan growth while keeping asset quality under control. The brokerage also believes Kotak Mahindra Bank is entering a phase of stable, high-quality growth as stress in its unsecured loan portfolio eases.

Among banks, ICICI Bank remains one of Axis Securities' top convictions, backed by steady credit growth & healthy profitability.

Consumer and Retail Stocks

In the consumer space, the brokerage has recommended Varun Beverages, DMart (Avenue Supermarts), Nestle India and Eternal.

Telecom and Consumer Durables

Bharti Airtel is one of the brokerage's highest-conviction ideas, with the highest upside among its large-cap recommendations. Axis expects higher average revenue per user (ARPU), continued data consumption and expansion of its data centre business to support earnings growth. The brokerage is also positive on LG Electronics India.

Mid-Cap Picks

Among mid-cap stocks, Dalmia Bharat offers the highest upside in the report. APL Apollo Tubes, a new entrant to the July list.

Small-Cap Recommendations

The brokerage's small-cap basket includes Ujjivan Small Finance Bank, Chalet Hotels, Minda Corporation and Healthcare Global Enterprises (HCG). Chalet Hotels is expected to ride India's hospitality recovery, while Minda Corporation. The brokerage has also added Healthcare Global Enterprises (HCG).

Risks to Watch

Despite its positive outlook, Axis Securities said, "investors should monitor several risks, including the possibility of El Niño affecting the monsoon, continued foreign institutional investor (FII) selling and any fresh escalation in geopolitical tensions in West Asia.

According to the brokerage, Indian equities are now entering a phase where earnings growth, rather than valuation expansion, is likely to be the major catalyst of market performance.