Buy ICICI Bank: There's been a lot of correction in the stock and consolidation has occurred. Given the bank's size, it is likely that with its overall credit growth, it should be able to manage net NPAs (non-performing assets) percentage.
Buy SBI: Currently, State Bank of India is the best bet among PSU banking space. In view of its size, it is better placed in terms of NPA management than other lenders in the space.
Buy Axis Bank: There has been a lot of selling in the stock and therefore, very little downside is seen in it. Axis Bank valuations look attractive and the stock now finds strong support at Rs 400. There's possibility of ups and downs in view of news flow with the RBI policy, but overall, it's an attractive buy from a 1-2 year perspective.
Avoid PNB: Except SBI, asset quality remains a big question for PSU lenders such as Punjab National Bank. Declared NPA accounts are expected to grow over next 1 year. Increased competition is also seen coming to the PSU banking space with entry of smaller, payments banks.
Buy HDFC Bank: Despite entry of smaller banks coming in, HDFC Bank is expected to gain market share going ahead.
Buy IGL: Overall sentiment is positive for the PNG segment, on the back of positive news-flow. The company is expected to benefit from the government's focus on CNG, LNG consumption. IGL shares have shown a good breakout and look good from a technical perspective.
Avoid Shoppers Stop: The stock has not made much money for investors over the last many years. The recent rebound has happened as the company is modifying its business model to some extent. E-commerce models are preferred instead where better growth is expected going ahead.
Avoid Adani Power: Investors should avoid power producers for now. There are lots of issues in the power generation space, such as huge debt and low profitability.
Buy GAIL: The power transmission company is expected to benefit from the government's moves to clean up the segment and improve the balance sheets of SEBs (state electricity boards). Direct beneficiaries of improved SEB balance sheets will be the funders of power-generation plants.
Buy Godrej Consumer, Marico: These FMCG firms have niche brands and are expected to benefit from a pick-up in rural demand going ahead.
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