Titan, Maruti, M&M, SBI And More: These Are Motilal Oswal's Bets After Delhi Election Results
Market will take the Delhi verdict positively as it 'provides further impetus to the policy momentum', Motilal Oswal said.
Motilal Oswal Financial Services Ltd. listed the stocks it prefers in the aftermath of the Bharatiya Janata Party's victory in the Delhi assembly elections, in a note on Monday.
"The market will take the Delhi verdict positively, as it provides further impetus to the policy momentum and helps allay residual concerns, if any, over the stability of the coalition government at the Centre," the brokerage stated.
With the Union Budget now behind, and the Reserve Bank of India providing monetary relief with 25 basis points rate cut, the Delhi verdict "will lift sentiment at the margin", Motilal Oswal said. The note came two days after the BJP won 48 of the 70 assembly seats in Delhi, whereas the ruling Aam Aadmi Party was restricted to 22 constituencies.
Following the Budget, RBI rate cut and Delhi poll results, the brokerage sees consumption as a "key theme that can do well". A broad swathe of sub-segments of consumption could be key beneficiaries, namely, discretionary, retail, jewellery, hotels, apparels, two-wheelers, entry-level four-wheelers, and also capital market plays to some extent, it added.
Among the large-caps, Motilal Oswal is betting on the following stocks —Titan Co., Mahindra And Mahindra Ltd., Maruti Suzuki India Ltd., ICICI Bank Ltd., State Bank of India, HCL Technologies Ltd., Bharti Airtel Ltd., Larsen & Toubro Ltd., Sun Pharmaceutical Industries Ltd., Trent Ltd., Hindustan Unilever Ltd. and Dixon Technologies (India) Ltd.
From midcaps and smallcaps, its picks include Indian Hotels Ltd., Page Industries Ltd., Cummins India Ltd., BSE Ltd., Godrej Properties Ltd., Coforge Ltd., Metro Brands Ltd., IPCA Laboratories Ltd., Angel One Ltd., and JSW Infrastructure Ltd.
Motilal Oswal also noted that one of the key reasons for the swing in BJP’s fortunes in Delhi "is the return of middle-class voters" to its fold, given the "disenchantment with the prevailing urban infrastructure" in the region.
All the key parties involved in Delhi's electoral battle, including the BJP, promised some handouts or freebies in their pre-poll manifesto, it pointed out. "This, juxtaposed with the FY26 Union Budget’s Rs 1-trillion stimulus for taxpayers, shows a decisive shift in the policy focus toward the middle class," the brokerage said, referring to the tax exemption for income up to Rs 12 lakh and tweaks in tax slabs that will cost the exchequer an estimated Rs 1 lakh crore.
