This is the time to buy bank stocks such as HDFC Bank, ICICI Bank and State Bank of India (SBI), says market expert SP Tulsian of Sptulsian.com.
"I won’t be hesitant to take a call on YES Bank also, having seen the bottom at about Rs 57. Investors can have comfort on all individual bank stocks, whether it is HDFC Bank, ICICI Bank, AXIS Bank, SBI, IndusInd Bank or YES Bank. The buying is seen coming back in these stocks,” he noted.
He further added that there is no need to get too disappointed with the Q1 GDP figures on August 30. "Things will start picking up from Q2 because the sops given by the government will start having its effect only in the second half of the FY20,” he opined.
According to Tulsian, road construction is an excellent sector and stocks such as L&T, NCC and Dilip Buildcon are looking good. He has advised investors to remain away from Piramal Enterprises, as most of its exposure is in the real estate sector. However, things seem quite attractive for the pedigree NBFCs including L&T Finance and Mahindra & Mahindra Finance.”
As gold prices are rising, financing companies such as Muthoot Finance and Manappuram Finance can also be considered, he noted.Disclaimer
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