Indian Stock Market Hits Record Highs: SBI Securities Reveals Top Picks for Investors
The Indian stock market is currently experiencing a historic high, with both the Sensex and Nifty 50 indices reaching new peaks. This surge in market sentiment can be attributed to strong domestic macros and increasing optimism surrounding central banks easing monetary policies and potentially cutting interest rates in the near future.
On March 7, the Sensex reached a new all-time high of 74,245.17, while the Nifty 50 also hit a fresh record high of 22,525.65 during intraday trading. Despite the premium valuation, analysts at SBI Securities believe that the Indian market is still trading at a cheaper valuation compared to developed markets like the USA and Japan.
SBI Securities has identified 14 stocks as their top picks based on Q3FY24 results, with potential upside ranging from 15% to 26%. These stocks are recommended for investment over a 12-month horizon. Some of the top picks include Mahindra & Mahindra, Ambuja Cements, Cipla, Tata Consumer Products, and JSW Infrastructure.
The stock selection philosophy of SBI Securities focuses on companies with strong management, solid corporate governance, supportive industry outlook, business growth visibility, attractive margins, return ratios, healthy balance sheets, and a strong historical track record.
Investors are advised to consult with certified experts before making any investment decisions. Stay updated on all stock market news for more insights and recommendations.
