‘Momentum is on their side’: Amnish Aggarwal’s big bets for 2026

Amnish Aggarwal, Director–Institutional Research at PL Capital, shared his key investment ideas for 2026, highlighting select fast-moving consumer goods and defence stocks. He also weighed in on the recent fraud case at Kajaria Ceramics.Aggarwal has been positive on Britannia Industries for several quarters, given the strong momentum, easing raw material pressures and benefits from the Goods and Services Tax changes. ‘Momentum is on their side,’ he said adding that the company could deliver 15–18% profit after tax (PAT) CAGR in the next couple of years. Aggarwal believes there is room for gains in the stock, with “scope for nearly 15% upside from current levels over the next 12 to 15 months.”

Aggarwal advised investors to also consider select defence sector names such as Hindustan Aeronautics and Bharat Electronics, which have corrected from recent highs but continue to benefit from strong order books and a steady inflow of new contracts. While growth may not be very fast, he sees them as a steady set of stocks that can offer compounding returns even with current valuations.

Also Read: Gold price could hit $10,000 by 2029 end, says Ed YardeniOn Kajaria Ceramics, Aggarwal said the reported fraud case is a headline risk but not unprecedented in the ceramics and tiles industry. He stressed that the long-term impact will depend largely on how the company responds. “A lot depends on how the company handles it,” he said, pointing to the need for improvements in internal systems and processes. In his view, if the financial impact is not significant relative to the size of the company and corrective steps are taken promptly, the issue could turn out to be a passing phase rather than a long-term concern.

For the entire interview, watch the accompanying video

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