Yes Securities Picks 24 Winning Stocks, Including Hindalco and HUL, as Market Resumes Northward Rally
Yes Securities, a domestic brokerage firm, has identified 24 stocks across 8 sectors that they believe could perform well as the market resumes its upward trend. According to the brokerage, historical data suggests that markets tend to do well after election results.
Here are some of the stock ideas they’ve suggested:
- Auto: Samvardhana Motherson
- Building Materials: Greenply, APL Tubes
- Durables: Voltas, Amber, Symphony
- Consumer Staples: Dabur, Hindustan Unilever, Marico, Britannia, Gille
- Metals: Hindalco, JSW Steel
- Oil & Gas: Oil India, GAIL, HPCL, BPCL
- Pharma: Alkem, Torrent Pharma, Indoco Remedies
- SFBs and NBFCs: LIC Housing, Shriram Finance
Hitesh Jain, Lead Analyst at Yes Securities, mentioned that while there might be a further 10% correction in the market, the adjustment due to the election results is now complete. He also stated that historically, markets have performed well in the 6-12 months following elections.
The recent election results, which saw the NDA forming a coalition government, were not initially favored by the stock market. However, despite adjustments, Yes Securities believes that this doesn’t mark the end of the bull market. They caution against paying high premiums for stocks or investing solely based on hopes for future reforms.
Factors such as historical market trends, the continuity of PM Modi’s regime, productive government expenditure, FII investments, and market corrections paint an encouraging picture for the Indian equity markets.
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