Indian equity markets commenced Monday’s session on a subdued note, with negative global cues exerting pressure on investor sentiment. In early trading, the Sensex declined by nearly 280 points to hover around 84,989, reflecting a drop of approximately 0.33 per cent. Similarly, the Nifty opened lower, trading near 25,966, down 81 points or 0.31 per cent.
Despite the cautious market opening, specific high-growth technology stocks are attracting strong institutional interest based on long-term growth forecasts and strategic positioning.
ICICI Securities Initiates Coverage on Netweb Technologies with ‘Buy’
ICICI Securities has issued a ‘BUY’ call on Netweb Technologies (Netweb Tech), setting a target price of ₹4,110. The firm highlights Netweb as India’s leading provider of High-end Computing Solutions (HCS), offering a diverse portfolio that spans High-Performance Computing (HPC), private cloud/Hyper-Converged Infrastructure (HCI), AI systems, data centers, High-Performance Storage (HPS), and related software services.
The report emphasizes that HPC, private cloud, and AI systems are Netweb’s high-growth segments, demonstrating a strong 77% CAGR from FY22–25. Netweb’s competitive advantage stems from its presence in both hardware and software, offering comprehensive capabilities in hardware design, manufacturing, and software stack implementation, affording it a “sole-mover advantage” in the domestic market.
The company is strategically positioned to benefit from significant sectoral tailwinds, including robust domestic demand for computing and data centers, coupled with strong government support through initiatives like the IndiaAI Mission and the National Supercomputing Mission. Netweb’s unique selling proposition (USP) lies in being India’s only full-stack hardware provider, supported by design capabilities, implementation services, and strong partnerships with global Original Equipment Manufacturers (OEMs) such as NVIDIA, AMD, and Intel.
ICICI Securities projects robust financial growth for the company, modeling a revenue/PAT CAGR of 59%/58% for FY25–28E. The target price of ₹4,110 is based on a 56x target multiple applied to December 2027 estimated EPS of ₹73, a multiple aligned with industry peers like Dixon Technologies. The model includes a substantial ₹21.8 billion fillip expected from the IndiaAI Mission order.
United Spirits Showing Resilience
Separately, ICICI Direct recommends a ‘BUY’ call for United Spirits Limited (UNISPI) in the range of ₹1,451–₹1,458, targeting ₹1,540. The brokerage notes that the stock has shown “significant resilience to the recent market volatility” and has held its gains firmly. Continued long positions and delivery-based accumulation suggest market expectations of further upside. Technically, the highest option base for both Call and Put strikes is situated at the ₹1,500 strike, with ATM Call strikes already showing closure, indicating anticipation that the stock will move higher beyond the ₹1,500 level in the coming sessions.
