Abhay Laijawala of Deutsche Bank believes that the ongoing equity rally in India will continue in medium term driven by likelihood of normal monsoon rainfall, improvement in domestic indicators coupled with an accommodative RBI.
He has made changes to model portfolio by raising metals to overweight from underweight adding Hindalco Industries, JSW Steel and Tata Steel.
He has raised industrials to neutral from underweight by adding BHEL and raising weightage of Ashok Leyland and increased weightage of consumer staples primarily through rural plays by adding Dabur India to model portfolio.
Laijawala's top picks include Hero MotoCorp, Mahindra & Mahindra, Whirlpool, Zee Entertainment, Godrej Consumer Products, BPCL, Shriram Transport, Sun Pharma, SKF, IRB Infra, UPL, Shree Cement and NTPC.
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