Infosys, PNC Infratech, Federal Bank, Polycab And More: Top Stock Picks For December: Axis Securities
Axis Top Picks basket delivered impressive returns of 18%/19% in the last six months/one year respectively.
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Axis Securities Report
Infosys Ltd. - The management sees strong traction in both on digital transformation for next generation services across industries and cloud transformation. The IT automation for these services remained resilient even in the threat of potential slowdown. We believe businesses have become system driven which lead to higher dependency on these partner vendors in automation process. We expect demand for the automation will likely to grow with compound annual growth rate of 16.5% over next five years.
Polycab India Ltd. - Polycab has maintained a leadership position in the organized cables and wires segment with a market share of over 24%. With a strong distribution network and a strong brand recall, the company is poised to gain market share from the unorganised players in both wires and fast moving electrical goods segments.
Federal Bank Ltd. - Key positives are increasing retail focus, strong fee income, adequate capitalisation, and prudent provisioning. Federal Bank remains well-poised to deliver a strong return on asset/return on equity of 1.2%/14-15% over FY24-25E.
PNC Infratech Ltd. - The road sector is witnessing good development owing to increased government thrust on infrastructure investment. Furthermore, the tightening of norms in bidding on road projects by the National Highway Authority of India augurs well for an organised player such as PNC Infratech.
Click on the attachment for the full list of Axis Securities’ stock picks for December 2022:
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