Domestic brokerage firm PhillipCapital has identified 43 stocks, including ICICI Bank, SBI, Axis Bank, GAIL, and HAL, that are likely to perform well as the BJP potentially returns to power. Despite weaker than expected poll results, the possibility of the NDA forming the government for a third term is seen as a positive for the market.
Other top picks by PhillipCapital include Shriram Finance, Muthoot Finance, Infosys, LTIMindtree, UltraTech, L&T, Siemens, Reliance, Sun Pharma, JSW Steel, Hero MotoCorp, HUL, Zomato, SRF, and Aarti Industries. The brokerage firm believes that a stable government with consistent BJP policies is crucial for the economy and equity markets.
PhillipCapital notes that as the government formation becomes clearer and market corrections occur, they will consider buying equities. They also highlight the importance of domestic investor response and liquidity, which have driven the market’s rise since Covid. While market valuations remain high, further corrections could make them more attractive, according to Research Analyst Anjali Verma.
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