Investment expert, Sanjiv Bhasin, suggests including defense stocks like Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) in your portfolio as defense building has become a booming industry in India. He also recommends buying these stocks on declines or doing a Systematic Investment Plan (SIP) as they are must-haves for your portfolio.
Bhasin believes that the recent market decline is due to over-pessimism and that there is potential for an upside now. He points out that crude oil prices have been weak and bond yields are pricing in the Fed being on hold. Bhasin also mentions that the dollar is on a weaker wicket with crypto hitting $35,000.
He expects positive results from large-cap banks, such as Axis, ICICI, Kotak, and HDFC. Bhasin suggests buying HDFC at its current level. He predicts a 10% upside on the Bank Nifty by the end of the year.
Regarding Maruti Suzuki, Bhasin expects their quarterly results to be the highest ever in the history of the company. He believes that market sentiment could push the stock to reach 12,000 by the end of the year.
The collapse in mid and small caps is attributed to capital protection as investors seek better returns from large-caps. Bhasin points out that midcaps have a higher impact cost and tend to fall more during market corrections.
Bhasin remains optimistic about both the Nifty and Bank Nifty indices, stating that Reliance, HDFC Bank, HUL, and UltraTech are giving good entry points. He expects mid-caps to retrace themselves after consolidation.
Regarding Asian Paints, Bhasin acknowledges a slight delay in the festive season but believes that maintaining and growing at 18% will not be easy for them. However, he sees them as a good proxy play for the festive demand in the housing sector.
In conclusion, Bhasin advises including defense stocks, large-cap banks, and stocks like Reliance, HDFC Bank, HUL, and UltraTech in your portfolio. He remains optimistic about the Nifty and Bank Nifty indices and sees potential for a rebound in mid-caps after consolidation.
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