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Yes Securities Report
Amid the current chaos, once a margin of safety is in place, certain pockets of opportunities will emerge and loom large. With a firm focus on these pockets of opportunities this year, we recommend our splendid seven Diwali buys.
State Bank of India Ltd. - SBI is a key beneficiary of the systemic uptick in credit demand, especially led by credit growth witnessed in year-to-date-CY22. With increasing signs of momentum continuing in corporate demand and a potential capex upturn in FY24, we believe SBI is one of the best‐placed participants in the sector. Another lever to credit growth sustaining is tightened liquidity which would urge corporates to turn towards banks for meeting their credit requirements.
Prestige Estate Projects Ltd. - From being a predominant South India player for decades, Prestige Estates is now expanding its wings to cover real estate growth markets across Northern and Western India. They have launched a multitude of projects in Mumbai and Delhi‐NCR. With projects spanning 34.39 million square feet they are prepared to drive growth in these new geographies while maintaining their winning position in existing core markets.
ICICI Prudential Life Insurance Company Ltd. - Within private insurers, the industry is getting more polarized in favor of large players backed by India's largest private banks and financial institutions. They are better placed to make the most of the burgeoning sector opportunities, and we strongly believe ICICI Prudential Life enjoys a large runway for growth with all its levers in place.
Click on the attachment for full list of Yes Securities' Diwali stock picks:
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