Samvat 2079 now looks much brighter and more promising and the Indian economy is at a sweet spot of growth and remains a land of stability against the backdrop of a volatile global economy, domestic brokerage and research firm Axis Securities shared its Diwali Chooses the said Muhurta in a note.
The brokerage house believes that the outperformance relative to the Indian market will likely continue Samvat 2079 It will also be led by more favorable macroeconomic factors and better-than-historic fundamentals of Indian corporates.
Based on these topics, Top Diwali Stock Picks Are ITC in line with the target price? 380, Ashok Leyland (TP: 175), Polycab India (TP: 2,860), Sundaram Finance (TP: 2,490), Indian Hotels Company (TP: 375), IDFC First Bank (TP: 70), Westlife Development (TP: 870), nozzle (TP: 300) and Aptus Value Housing Finance (TP: 350).
“Although inflation remains a major challenge in the developed world, inflation in the domestic economy appears manageable. Good monsoons, high reservoir levels, a cool-off in commodity prices and healthy job/labor markets cumulatively indicate that the domestic economy Will adjust smoothly to prevailing inflation. Majority of the high-frequency indicators are trending up and showing a pick-up from pre-Covid levels, indicating the resilience of the Indian economy,” the note said.
Since last Diwali, the Indian market has outperformed other global and emerging markets by a notable margin, owing to the country’s strong economic outlook despite several adverse conditions such as volatile macroeconomic growth, sharp regime change and volatile FII inflows. .
Since Diwali, the benchmark index Nifty is down only 5% (as of 11 October 2022), while the S&P500 and Emerging Markets indices are down 22% and 29% respectively in the same period.
Axis Securities said, “Indian investors have indeed shown a good deal of maturity over the past year, a key reason not to see adverse panic reactions (such as the market’s rapid recovery due to persistent FII selling in 2008). “
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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