Welcome to Santa rally; stay put & go for these 3 bank stocks: Sanjiv Bhasin
Sanjiv Bhasin, Director, IIFL Securities, says “I would stick with the largecap banks. ICICI and Kotak are looking very good on the largecap stocks and in the midcaps, AU Bank is making a fresh move. AU Bank has arguably become one of the fastest growing small scale MFSI, which has got the license and now growing very rapidly. Their cost of money has fallen. And now with bond yields moderating, I think their MSME book will expand very fast. So I would go with ICICI, Kotak and AU Bank where I feel that there is a lot of value at these prices.”
Seems like celebration for equity markets almost on a daily basis! It was no different yesterday and in fact was quite a stunning move. One of the laggard sectors like IT made a comeback, across-the-board in largecaps, smallcaps and midcaps. Any opportunities here?
Welcome to Santa Claus rally. So no complaints and enjoy the party as it stands and take advantage of any weakness in the stocks because 2024 is going to herald a very strong equity market, at least till we have volatility of the elections.
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Offering CollegeCourseWebsiteIIM LucknowIIML Chief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Technology OfficerVisitIIM KozhikodeIIMK Chief Product Officer ProgrammeVisitLike you rightly pointed out, the poster boy IT was supposed to be weak on cloud and XYZ. It is the biggest gainer of the rupee weakness. Plus, the underlying strength is that if yields over there are weaker, the dollar is topping out and inflation is on its way down, then IT becomes very big for gaining on the outsourcing side.
Indian companies are moderated and rectified themselves greatly with AI and cloud computing. So I have been
