The Insurance Bill will be tabled in the Parliament today, Ajay Bodke of Prabhudas Lilladher believes it will be a red-letter day if the bill could be passed. According to him, the passage of the Insurance Bill can bring nearly Rs 30,000-40,000 crore into the country.
Speaking to CNBC-TV18, Bodke said the market is eagerly waiting for the passage of other crucial bills like the Coal bill and the Mines and Minerals Bill. The three bills are expected to be cleared in the upper house by March 18.
Buoyed by the hope of the passage of Insurance Bill, Bodke is bullish on banking sector which comprise almost 30 percent of Nifty. He believes banks like ICICI, HDFC, SBI have significant presence in insurance business and may therefore see a re-rating.
He, however, recommends avoiding metal pack unless there is some stability in China and Europe.
Among fast-moving consumer goods (FMCG), Bodke is extremely positive on Britannia and believes there is still some steam left in the stock with a one year perspective. He suggests including the stock in one’s core portfolio. He, however, recommends caution on Colgate for now.
In pharma space, Bodke continues to remain bullish on Aurobindo Pharma with a target price of Rs 1,300 per share.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
