Brokerages initiate coverage with a buy rating on these top 10 stocks which may return 11-62%
Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote, feels investors should now start adding top quality stocks to their portfolio at lower levels
The Nifty closed moderately lower-to-flat for the third consecutive month in February after a spectacular run in November 2018. This indicates that the market, after pricing in many events, is eagerly awaiting the Lok Sabha Elections.
In fact, the market has been rangebound, amid mixed December quarter earnings, slower economic growth, easing geopolitical tensions, mixed automobile sales data, fears of a global slowdown and change in the Goods & Service Tax (GST) rates on several segments. The market has been supported by inflows from domestic institutional investors (DIIs), renewed buying by foreign institutional investors (FIIs) in February, lower crude oil prices and hope of trade deal between US and China.
Slowly the market's focus will shift to the general elections to be held in April-May, followed by January-Mary earnings, experts said. They see the possibility of a pre-election rally, which could take the Nifty beyond 11,200 levels amid volatility. In the short-run, the geopolitical situation, elections or US-China trade war may make the market volatile. But in the long-run, the market will perform irrespective of these factors. Long-term investors should ignore such factors and focus on business with strong and consistent earnings growth and prudent and experienced management, After the near-term volatility, Shibani Kurian, Senior Vice-President and Head of Equity Research, Kotak Mahindra AMC, also believes that the market's focus would then shift to fundamentals and valuations. "The pace of improvement in domestic earnings growth would assume importance for the remainder of the year. Welspun Enterprises (WEL) is an asset recycling infrastructure model, offering investors a margin of safety and growth opportunity at an attractive valuation.
Unlike other companies in the road sector, where burgeoning order backlog and new project bids could possibly stretch balance sheets, WEL is a company that has developed assets, even beyond roads, sold them, and bid for new projects.
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