MakeMyTrip, Bharti Airtel, Infosys, Persistent Systems: JPMorgan's four high conviction ideas for this correction

In 2025, the benchmark Nifty 50 has cracked 7 percent.

International brokerage JPMorgan shared four high conviction stock ideas that could offer solid returns, following the ongoing market correction. So far in 2025, the benchmark Nifty 50 index has cracked seven percent, with a 16 percent fall from its all-time high recorded in September 2024.

MakeMyTrip

Travel aggregator MakeMyTrip is likely to be a key beneficiary of the Maha Kumbh-related travel during the March quarter, as devotees flocked to Prayagraj to offer their prayers. Shares of MakeMyTrip are listed on the Nasdaq index, and over the past 12 months, the stock has defied the sour market sentiment to rise around 57 percent in trade.

Persistent Systems

The brokerage believes the mid-tier IT services firm is one of the best Albrun plays. Further, the stock's 18 percent YTD correction provides a good entry point.

In February, the brokerage advised buying the dip, calling Persistent Systems a high-quality growth compounder. It expects a 21 percent revenue and 29 percent PAT CAGR over FY25-27, supported by record-high deals driving high-teens revenue growth in FY26. Persistent has set a $5 billion revenue target by FY31, implying a strong 26 percent CAGR over FY27-31. Margin expansion is also likely, aided by lower subcontractor costs and operating leverage.

Bharti Airtel

Bharti Airtel's healthy free cash flow generation increases chances of higher dividend payout, noted the broking firm. Further, last year, JPMorgan had noted that the lack of relief from the Supreme Court on the Adjusted Gross Revenue (AGR) dues case indicates room for further tariff hikes.

JPMorgan said it was baking in a 15 percent tariff hike in FY27, which would lead to a 5 and 6 percent bump in Airtel's wireless revenues and EBITDA, respectively, while margins would likely see a 50 bps uptick in FY27.

Infosys

JPMorgan said this primary recovery play is supported by solid free cash flow yields and an impressive deal pipeline. The brokerage remains 'overweight' on Infosys shares, believing it to outperform the IT pack.

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