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Business News/ Markets / Stock Markets/  Nifty target upgraded by Axis Securities. Here are its top stock picks for the month
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Nifty target upgraded by Axis Securities. Here are its top stock picks for the month

The brokerage is overweight on sectors like information technology (IT), metals and mining, specialty chemicals

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While Q1FY22 earnings were a mixed bag, Nifty 50 earnings have seen further upgrades on account of an encouraging performance by metals, IT, and cement sectors. Brokerage firm Axis Securities has revised its December Nifty target upwards to 17,700, based on the earnings upgrade. It continues to remain optimistic on the market, and said focus on earnings sustenance will be a key, moving forward.

Axis Securities' top stock picks for the month of September includes ICICI Bank with target price of 810, State Bank of India (SBI) with 555 target price, Federal Bank (TP 100), Equitas Small Finance Bank (TP 76), Varun Beverages (TP 960), Camlin Fine Sciences (TP 215), Mold-Tek Packaging (TP 585), Amber Enterprises India (TP 3,330), Minda Corporation (TP 148).

Steel Strips Wheels (TP 2,122), Krishna Institute of Medical Sciences (TP 1,570), Tech Mahindra (TP 1,600), Bharti Airtel (TP 740), HCL Technologies (TP 1,300), Orient Cement (TP 180), and Ashok Leyland (TP 155) are also among its list of stock recommendations for the month.

Axis Securities has also noted that even in the Mid and Small Cap space, quality stocks have outperformed the non-quality stocks by a significant margin. “Moreover, this divergence is quite significant in the Small Caps as compared to the Large Caps, clearly indicating that the allocation will increasingly shift towards Quality stocks across the board. In conclusion, attractive opportunities continue to remain in the Small and Mid Cap space," it said in the note.

The brokerage is overweight on sectors like information technology, metals and mining, specialty chemicals whereas it has an equalweight stance on auto, banking, and cement, consumer staples, oil and gas sectors.

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Published: 02 Sep 2021, 02:15 PM IST
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