HDFC Bank, Reliance Industries, Infosys among 9 bottom-up ideas in Bernstein India Model Portfolio

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HDFC Bank, Axis Bank, Infosys, Larsen & Toubro, NTPC , Bharti Airtel , Reliance Industries, Cipla, Adani Ports and Special Economic Zone . Also Read- Hindustan Aeronautics share price jumps over 4% to a record high; market cap surpasses ₹2 lakh crore for first time Analysts at Bernstein continue to remain positive on financials, which is further helped by its lagging performance in 2023 and they believe it will be a key sector which is also an enabler of the current capex cycle for India.

Overall credit growth will, as a result, continue to be resilient even growth though small ticket loans may be hit for some time due to the RBI regulation, said analysts at Bernstein. HDFC Bank and Axis Bank continue to be in their portfolio.

L&T and NTPC are other winners from this cycle, where L&T as per the Bernstein analysts is a great proxy for infra growth in both India and the Middle East and continues to see strong order inflows. NTPC as per Bernstein analysts is the only large thermal player investing in solving the evening power shortage crisis, besides its thermal operations, generating enough cash flow to sustain capex in the renewable segment.

Infosys as per Bernstein has been pioneering the age of Artificial Intelligence deals in India and will be a key driver of growth in IT services. While near-term growth for Infosys, even in the December quarter, is not strong, Bernstein analysts do see a bottoming emerging.

Also Read- Stock split 2024: Nestle India share price dips as stock trades ex-split in 1:10 ratio Bharti Airtel, Reliance Industries, Cipla, Adani Ports, are the new additions to Bernstein's model Portfolio. The portfolio additions are dominated by large, tried and tested players from sectors liked by Bernstein.