Abhay Laijawala, Deutsche Equities said while the brokerage remained constructive on market outlook & are maintaining our December 2015 Sensex target of 33,000, it does believe that both the economy & stock market are now urgently looking for critical offsets to balance the continued absence of private sector investment.
With the private sector still on sidelines, rural consumption deteriorating & export growth looking anemic, public investment has emerged as the most critical driver for economic revival, until private sector has recovered, he added.
According to him, a strategic thrust on public investment can be one of the strongest offsets the government can consciously provide India Inc to tide over this period of transition.
“Our top picks are Ashok Leyland, Axis Bank, Bharti Airtel, CONCOR, Cummins, HPCL, IRB Infra, L&T, Maruti, SBI, Shree Cement, Ultratech and Zee Entertainment,” Laijawala said.
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