L&T, HAL, UltraTech, among 32 top stock picks of PhillipCapital after state elections; check full list
Hindustan Aeronautics (HAL), GET&D, UltraTech Cement, ACC, JSW Steel, Maruti, Tata Motors, Hero MotoCorp, ICICI Bank, Bajaj Finance, Axis Bank, PFC, Shriram Housing Finance, Muthoot Finance, Havells, Kaynes, PG Electroplast, Dr. Reddy, Zydus Life, LTIMindtree, SBI Life, ICICI Lombard, Nippon Asset Management, Coromandel, Deepak Fertilisers, Gateway Distriparks, Mahindra Logistics, and PNC Infra.
In its report, the brokerage expressed optimism about the industrial (defence and capital goods), cement, metals/pipes, automotive, and EMS sectors, while maintaining a well-diversified position in other industries (financials, pharmaceuticals,, discretionary, and staples). It expects this segment to fare better as the BJP is expected to gradually focus more on welfare schemes in the run-up to the union elections.
Rural demand has been weak due to inflationary pressures and a lack of incremental growth triggers. “We expect a balanced approach between revenue and capital expenditure, retaining fiscal math," PhillipCapital said in its report.
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