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Hemang Jani says: “ if one is looking to participate at current levels, I would have banks as my top-most recommendation, particularly State Bank of India and BOB. These are the two names where we think that there is a larger comfort in terms of valuations and risk reward. Apart from them, we are seeing relative strength in metal stocks and we like NMDC.” ....
Two-wheeler stocks, which have gained up to 23 percent in the last month, are already fairly valued due to its sharp rally and margins in electric 2Ws may remain a challenge in the near term, CLSA has said ....
“Typically when we see this kind of an exuberance and when the IPO listing happens at a much higher price than what people would have thought, this kind of a momentum is not great news for people who are looking to buy into the market having some sort of a missed out feeling. I would certainly say that let us not get too gung-ho on what is happening in the IPO market.” ....
“One of the best performing sectors has been the capital goods and engineering companies. The second sector where the numbers have been pretty good has been the automobile sector because the volumes which were expected to be good and the benefits of low raw material prices and operating leverage have come. The third, is the largest segment – banks. A major outperformance has come in numbers on account of lower provision of NPAs.” ....