Top picks: Axis Securities recommends these 15 stocks to buy
Premium- Once the dust over Russia- Ukraine conflict settles, the market is expected to refocus on earlier key events, Axis Securities said
The direction of the oil prices, bond yields, and Dollar Index along with the development of the current geopolitical events will drive the market fundamentals. Once the dust over Russia- Ukraine conflict settles, the market is expected to refocus on earlier key events such as inflation and the central bank's view on the number of rate hikes in the current calendar year, said brokerage Axis Securities in a note.
Sharing its top stock picks for the month of March, the brokerage said it has made a few changes to its top picks portfolio by booking profits in Amber Enterprises and Mold-Tek packaging and adding Nalco and Praj Industries to the basket.
Axis Securities' top stock picks includes ICICI Bank with target price of ₹990, Bajaj Auto (target price: ₹4,250), Tech Mahindra (TP: ₹2,060), Maruti Suzuki India (TP: ₹9,800), State Bank of India (SBI) (TP: ₹720), Hindalco Industries (TP: ₹630), Bharti Airtel (TP: ₹810), Federal Bank (TP: ₹125).
Varun Beverages (TP: ₹1,080), Ashok Leyland (TP: ₹160), National Aluminium Company (Nalco) (TP: ₹150), Bata India (TP: ₹2,200), Krishna Institute of Medical Sciences (TP: ₹1,600), Equitas Small Finance Bank (TP: ₹80), Praj Industries (TP: ₹477), CCL Products (India) (TP: ₹585), are also part of its recommendations.
"We maintain a Nifty target of 20200. We continue to hold a positive long-term view on the market supported by the emerging favourable structure as increasing Capex spending is enabling banks to improve credit growth. Moreover, the overall boost in the Union Budget 2022- 23 expenditure will help deliver broad-based growth in FY23," the brokerage said in a note.
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The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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