Deven Choksey anticipates market growth driven by stock rotations and sectoral dynamics. Promising opportunities lie in banking stocks like Axis and ICICI, along with strong performers such as Reliance and HDFC Bank. Infrastructure spending and election outcomes expected to influence market trends. Choksey also says metals is one area which would possibly drive for the next five to seven years.
Against this backdrop, the valuation where it is and also given the fact that the rural portfolio is still not really growing fast and because the rural India spend is still slow, against a combination of these factors I would stay away from the stock.