Infra, mfg, commodity stocks may gain in 2025 on demand revival
investment demand in 2025, according to ICICI Securities.
There are signs of bottom formation and recovery in commodity prices such as cement, metals and oil, along with gross refining margins of oil companies, the brokerage said in a note to clients.
«Apart from the traditional sectors, the current capex cycle may have additional drivers in the form of new-age sectors such as data centres, AI (artificial intelligence) infrastructure, EVs (electric vehicles), EMS (electronics manufacturing services) manufacturing, green energy, etc,» said the note.
Stocks such as L&T, NTPC, JSW Steel, Ambuja Cements, Tata Power, GAIL (India) and Jindal Steel & Power are some of the top picks of ICICI Securities.
Along with the private capex revival, the re-leveraging cycle may pick up, which will benefit large banks, where valuations remain reasonable due to scepticism, and other financial services players, including capital market players.
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