Stocks to Consider Buying
1. Axis Bank: Axis Bank reported a marginal beat on estimates in the recent quarterly results, as it showed modest loan growth of +1.6% QoQ on merged numbers, and also recorded higher trading gains. This positive financial performance demonstrates the bank’s resilience in these uncertain times, making it a potentially attractive buy.
2. Mahindra & Mahindra: The auto giant is gearing up for a potential growth phase with the impending global debut of a new pickup truck concept next month. This innovation suggests that the company continues to push forward with new product development and might be worth considering for investment.
3. Tata Motors: The auto manufacturing giant, Tata Motors, showcased its journey in a documentary, underlining its historic performance and growth. The recent news of Bengaluru’s BMTC inducting Tata Motors’ advanced e-buses and the opening of the second vehicle scrapping facility points towards a solid future growth trajectory. The company’s multiple avenues for growth and recent successes indicate a potentially rewarding investment.
4. State Bank of India (SBI): There’s potential growth on the horizon for SBI as the company is expected to show continued growth in its EPS. Investors typically find companies with growing EPS attractive, as they often lead to an increase in the share price.
5. Tata Consultancy Services (TCS): The IT behemoth has recently undergone a change in its organizational structure, led by the CEO, K. Krithivasan. The reshuffling in the management suggests a strategic move to optimize operations and might lead to improved performance.
Stocks to Potentially Sell
1. Asian Paints: APNT is likely to report EBITDA margin (Q1FY24 standalone: 24.6%) higher than its target range of 18-20% in FY24 due to lower raw material prices. The market could interpret this as a potential negative sign, indicating overselling, making it a potential sell.
2. Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, ITC, Bajaj Finance Limited: Market valuation for these firms has seen a significant fall. This downturn may signal a potential sell for these companies, as they are currently facing unfavorable market conditions.
It is always recommended to carry out your due diligence and consider your financial goals, risk tolerance, and investment timeline before making any investment decisions.