Dipan Mehta of Elixir Equities shares insights on HDFC Bank s positive outlook amidst sectoral churn. Market resilience due to bull market dynamics with various sectors compensating. Mehta further observes the real estate stocks performance, AB Birla group s strategic moves, and anticipates earnings peak with stock-specific volatility. He says it is very difficult to make out a case for the top banks like HDFC, ICICI, or Kotak underperforming for an extended period.
“Take some profits off on companies where price to earnings multiples are beyond 50-60 times trailing 12 months could be private sector defence contractors. It could be some of the newly listed stocks as well which are engaged in different businesses trading at very rich multiples. You could even consider adding specialty chemicals to that list where trading multiples are quite rich.”
“I really do not understand the global setup, the way it is, and why FII selling continues despite India shining and despite so much positive news globally on India. That is a difficult phenomenon to understand. And yet domestic flows remain extremely strong. So this is the time to focus on individual stocks rather than the market as a whole. ”