Deven Choksey Lists Out His Top Picks For Samvat 2073
The tone for the Indian equity markets is set and it will be the large-cap stocks that will lead the benchmark indices higher says Deven Choksey, managing director of KR Choksey Securities.
Choksey believes that investors should focus on individual stocks that have potential going forward.
The large-cap stocks have been neglected for quite sometime now in the name of uncertainty and volatility. However, my sense is that it will be these large-cap stocks that will drive the markets to newer highs going forward.Deven Choksey, Managing Director, KR Choksey Securities
Betting On Reliance Industries
Reliance industries beat analyst estimates in the second quarter and according to Choksey, their almost-complete capex program will add to the existing market capitalisation of Rs 3.5 lakh crore.
Reliance is promising to give you 60-80 percent returns going forward. With all the capex program over and the feed-stock gasification projet likely to bring down raw material costs, I think Reliance can be the one that will drive index to newer levels going forward.Deven Choksey, Managing Director, KR Choksey Securities
Optimism On The Transmission And Distribution Space
The transmission and distribution space has seen huge investments in the recent past and coupled with UDAY and the state-financing schemes has resulted in these companies leaving the worst behind them.
Choksey believes that companies like ABB India, Schneider Electric Infrastructure and GE T&D (Earlier Alstom T&D) can look forward to better days going ahead. Deven adds that investors holding positions for the next two-three years can see Compounded Annual Growth Rate of 25-30 percent.
Expect Good Returns From Jain Irrigation
India finally saw a good monsoon after two years of drought and the need for water conservation has grown larger than ever before. Choksey believes that the micro-irrigation section is likely to see good traction going ahead as the removal of subsidies will directly benefit the companies.
Jain Irrigation is in a smarter position than it was before. Subsidy is still an overhang but they are likely to overcome that barrier. Investors with a two-three year horizon can fetch 25-30 percent returns in the micro-irrigation, crop protection and seed businesses.Deven Choksey, Managing Director, KR Choksey Securities
The Next ‘NBFC-Like' Theme For Samvat 2073
Non-banking financial companies were the shining start of Samvat 2072. According to Deven, the insurance companies can prove to be a similar theme this year as the impetus towards the sector is increasing.
India being an under-insured country in the non-life as well as the life insurance segment can see a smarter run over the next ten years. Deven believes that the insurance companies are in a position similar to those of the private banks in the decade of the 90s. A large part of the money can be made through these companies going forward, Deven added.
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