NSEHere's a list of top largecap stock picks by the analyst:HDFC BankICICI BankITCLarsen & ToubroMax Healthcare InstituteMaruti SuzukiReliance IndustriesSiemensWithin the broader markets, Prabhudas Lilladher bets on these names:AstralBEMLCan Fin HomesEris LifesciencesPraj IndustriesR R KabelSunteck RealtyTCI ExpressModel PortfolioHigh Conviction PicksDomestic brokerage firm Prabhudas Lilladher sees the Nifty hitting levels of 27,100 in the next 12 months as part of its bull case analysis.
"We are increasing weights behind Capital Goods, Telecom and Cement.
"We are overweight on Auto, Banks, Capital Goods, Consumer,Healthcare, Telecom and underweight on IT, Metals, Diversified financials and oil and Gas.
"Prabhudas Lilladher has removed Safari, Navneet Education and Grindwell Norton from its list of high conviction picks.
"We are adding BEML (strong play on defence and railways) and ITC (steady outlook, budget unlikely to be nasty) in our conviction picks," it noted.
NSE
Here's a list of top largecap stock picks by the analyst:
HDFC Bank
ICICI Bank
ITC
Larsen & Toubro
Max Healthcare Institute
Maruti Suzuki
Reliance Industries
Siemens
Within the broader markets, Prabhudas Lilladher bets on these names:
Astral
BEML
Can Fin Homes
Eris Lifesciences
Praj Industries
R R Kabel
Sunteck Realty
TCI Express
Model Portfolio
High Conviction Picks
Domestic brokerage firm Prabhudas Lilladher sees the Nifty hitting levels of 27,100 in the next 12 months as part of its bull case analysis. In such a scenario, it values the index at a 5% premium to its 15-year average price-to-earnings multiple of 20.2 times.For their base case, the Nifty is being valued at a 15-year average price-to-earnings multiple of 19.2 times and a March 2026 Earnings per Share (EPS) of ₹1,344, to arrive at a target of 25,816 for the index. A progressive budget, normal monsoons and strong inflows will re-rate the markets further, the brokerage wrote in its note.The Nifty closed near levels of 23,400 on Thursday and is up 7.6% so far in 2024.Amnish Aggarwal, Head of Institutional Research at Prabhudas Lilladher expects the NDA government to sustain its focus on capex led growth around PLI, Roads, Ports, Aviation, Defence, Railways and Green energy, given the 20 basis points lower fiscal deficit in financial year 2024, normal monsoons and a ₹2.1 lakh crore dividend from the Reserve Bank of India (RBI)."However, we expect NDA govt to increase focus on farmers, rural, urban poor and middle class to arrest the impact of new social engineering cum freebies led reversal in certain states in recent elections," Aggarwal noted.The analyst remains positive on Auto, Banks, AMC’s, Capital Goods, Defence, Hospitals, Pharma, cement, Aviation, and Discretionary consumption. "We are increasing weights behind Capital Goods, Telecom and Cement."Within its model portfolio, Prabhudas Lilladher has trimmed its weightage on stocks like HUL, Titan, Infosys and Bajaj Finance, while correspondingly increasing it in stocks like HDFC Bank, L&T, Interglobe Aviation, Sun Pharma, LTIMindtree, Reliance Industries and Bharti Airtel.It has added Ambuja Cement to its model portfolio while removing Delhivery from the same. "We are overweight on Auto, Banks, Capital Goods, Consumer,Healthcare, Telecom and underweight on IT, Metals, Diversified financials and oil and Gas. We turn equal weight on cement."Prabhudas Lilladher has removed Safari, Navneet Education and Grindwell Norton from its list of high conviction picks. "We are adding BEML (strong play on defence and railways) and ITC (steady outlook, budget unlikely to be nasty) in our conviction picks," it noted.
