SMC Global, in their latest stock recommendations, highlighted two fundamental and two technical picks. The brokerage’s selections include HCL Technologies and Welspun Corp for their strong business fundamentals, alongside Samvardhana Motherson (SAMIL) and Bajaj Finserv as technical picks, based on notable chart patterns and market momentum observed as of 12 September 2025.
HCL Technologies, which closed at Rs 1,466 on 12 September, features as a key fundamental pick. The company operates in over 60 countries, employing more than 223,000 people. Its digital transformation, engineering, cloud, and AI-powered services cater to sectors such as financial services, manufacturing, life sciences, healthcare, and public services. HCLTech’s robust order book continues to drive positive sentiment, with a total contract value (TCV) of new deal wins in Q1 FY26 amounting to $1.8 billion, the global brokerage said.
Welspun Corp, closed at Rs 880.90, is another fundamental recommendation. As part of the $5 billion Welspun World, the company has executed some of the most challenging pipeline projects globally, SMC Global said. The Anjar, Gujarat facility manufactures ductile iron pipes, supporting the company’s ambition to capture a 5 per cent share of the Rs 85,000 crore total addressable market by FY30. With a strong Rs 19,000 crore order book, Welspun Corp aims for continued expansion in India and abroad.
For technical strategies, SMC Global points to Samvardhana Motherson International (SAMIL), which closed at Rs 104.69. The stock has displayed a decisive breakout above the Rs 100 level, supported by a W pattern formation and an ascending triangle on the short-term charts. Positive price action, coupled with higher volumes, underpins the uptrend, with the 200-day Exponential Moving Average (DEMA) at Rs 98.35. The recommendation suggests accumulation between Rs 103 and Rs 104, with an expected upside towards Rs 112–115 and a stop loss below Rs 98.
Bajaj Finserv, closing at Rs 2,081.50, is also identified as a technical pick by SMC Global. The stock has exhibited a clear bullish signal following a breakout above the Rs 2,060–2,080 range and holds well above its 200-day DEMA at Rs 1,909. With the Relative Strength Index (RSI) trending upwards, buyers appear to be gaining control. SMC Global recommends the stock for accumulation between Rs 2,060 and Rs 2,080, targeting an upside of Rs 2,220–2,250, and a stop loss below Rs 1,960.
Supporting its HCL Technologies selection, SMC Global said the company’s recent strategic alliances. Collaborations, such as the global alliance with Thought Machine for AI-driven banking system modernisation and with SailPoint for identity security, have bolstered client acquisition in financial services and cybersecurity. These initiatives utilise HCLTech’s certified delivery teams and Centres of Excellence, enabling faster client onboarding and custom solutions.
Regarding Welspun Corp, the company’s recent foray into green technology is significant. With capital expenditure of Rs 5,500 crore planned for FY26 (40–45 per cent already invested), Welspun is commissioning new LSAW plants in the US and Saudi Arabia, and a ductile iron pipe facility in Saudi Arabia, the brokerage said. These moves are expected to be supported by anti-dumping measures and increase the company’s global footprint.
The management of HCL Technologies said the order pipeline continues to remain strong. This reflects confidence in the company’s ongoing ability to secure significant digital business contracts, particularly in engineering-led and AI-driven services.
SMC Global said, according to the management, the company has become the first Indian pipe mill to produce an API grade X65 ERW pipes for transporting hydrogen. This milestone positions Welspun as a leader in the growing hydrogen and carbon capture infrastructure market, with future growth anticipated from major public sector undertakings in India and robust export potential in Southeast Asia, Latin America, and the Middle East.
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