Want to create a lot of wealth? Look at these 5 PSU gems for next 6 months: Sanjiv Bhasin
Sanjiv Bhasin, Director, IIFL Securities, says “very bullish on Hindustan Copper. We think numbers and the outlook will be very bullish and if China is back, which is evident from the type of government stimulus, then non-ferrous is going to do very well. Hindustan Copper is our top pick there. We are also bullish on HPCL. We like ONGC which is our top pick over there. To sum it up, IRCTC and Concor as well. If you have these five gems, you will create a lot of wealth. ”
Bhasin further says they have trimmed exposure in PSU banks and some of the railway stocks.
What is the takeaway for small and midcaps for viewers who have not been listening to you the last couple of days, the advice is to maintain caution there?
Sanjiv Bhasin: It was clearly evident and as we have been saying, HDFC Bank will be the leader in largecaps. Most of the selling pressure has abated and yesterday we saw a huge amount of short interest get cut over there. I am very bullish on the banking space purely because inflation is moderating, rate cuts are maybe in the next few months in the offing and the US dollar is easing.
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In midcaps, yes, there has been a lot of froth and that has been unbundled. We got a call from the regulator and mutual funds have also reacted to that. This is one space
