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“We could see Jio Financial stock for a long time not doing anything. And then, if they are able to establish a business which is seen as sustainable and profitable, then at that time, the stock will perform. But I do not think it is going to happen in the near future.” ....
Sandip Sabharwal suggests that stocks like Voltas and Aditya Birla Retail are in the value zone on the consumer side and can be accumulated on dips. He believes these stocks have limited downside and expects a 25-30% return over the next one and a half years. Sabharwal also says SBI will have the lowest net interest margin (NIM) compression among PSU banks. Sabharwal mentions that the banking space may see a comeback if non-performing assets (NPAs) remain stable and do not increase. ....
Analyst Sandip Sabharwal believes that 2024 might be a tougher year than 2023, contrary to what most analysts are predicting. He warns investors to be cautious about stocks that have seen a decent run-up in anticipation of performance improvement. Sabharwal also expresses skepticism about the IT sector, stating that while some specific companies may do well, larger diversified IT firms are facing significant challenges. ....
Sandip Sabharwal suggests adding positions in the auto largecaps and capital goods stocks on dips, as well as in the financial sector. He specifically mentions Bajaj Auto as a good opportunity due to their recent buyback indicating that the stock may be undervalued. He also mentions ICICI Bank and Axis as financials that he is positive on, while expressing caution towards PSU banks. ....
"The growth visibility for IT companies is expected to worsen due to cut in discretionary spending, leading to a decline in margins. Analysts should not be too optimistic about order bookings as many of these projects have uncertain start dates. The macroeconomic picture, with central banks trying to control inflation, suggests that next year s growth improvement is unlikely. Domestic-focused companies are performing well, especially in the market-focused sector, such as asset management companies (AMCs). " ....