HDFC Securities Head of Research-Institutional Equities, Varun Lohchab, suggests that their top investment ideas span across various sectors. They are positive on pharma, power, and real estate, with names like DLF and Sobha in the real estate sector, and L&T and NCC in the construction sector. In terms of financials, they favour Axis and ICICI Bank. Lohchab also warns of the possibility of a further 4-5% market fall due to global volatility and advises investors to stay cautious and selective.
With order books at probably the highest levels in recent years, market participants are willing to ignore record-high valuations in many of these stocks. L&T remains the top pick of analysts. Others include KNR Infra, NCC, Ashoka Buildcon, KEC International, and Kalpataru.
"United Spirits is one of our top picks in the consumption space and then in discretionary space we like Crompton Consumer which is part of our model portfolio along with United Spirits. We are positive on hotels as a theme . We have a positive rating on both Indian Hotels and Lemon Tree. I would say there are fewer names on the consumption side compared to on the investment and infra side."
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