Stock market strategy: Emkay Global adds SBI, ONGC, TVS Motor; trims exposure to HDFC Bank, ITC in model portfolio
Also Read: Stocks to buy: Maruti Suzuki, M&M, TVS Motor among top picks in auto sector by HDFC Securities “Our overall stance remains biased towards Manufacturing, and we keep our Underweight call on Financials intact for now. We are staying with most of our winners – Zomato/ Delhivery/ Motherson Sumi, as we still see an upside from current levels.
From the PSU space, we add SBI and ONGC, where we still see value and potential trigger," Emkay Global said. Emkay’s Underweight (UW) stance on staples is enhanced with an increase in Industrials, in line with the ITC-to-Indigo shift.
The rest of its sector exposures are intact. Also Read: ICICI Bank, Honasa Consumer, Zomato and more: Jefferies lists 26 ‘buy’ ideas for Indian markets “Apart from staples, we are Underweight on BFSI, as we see long-term EPS growth and ROE challenges – the current liquidity tightness aids our position.
We are Overweight (OW) on Materials and Consumer Discretionary (expressed largely through autos/ancillaries), to help us play the manufacturing and capex themes," said the brokerage house. It is also Underweight on the IT sector, as it believes that entry valuations should be better for long-term outperformance.
Catch Stock Market Live Updates here Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.Milestone Alert!
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