.jpg)
Synopsis : Amar Deo Singh of Angel One provided insights into key stocks, recommending a "buy-on-dip" strategy for ICICI Bank and HDFC Bank due to their potential to drive Nifty Bank Index higher. In the telecom sector, Singh contrasted the strong performance of Bharti Airtel, advising accumulation on dips, against the more uncertain outlook for Vodafone Idea, despite its recent rebound following a major equipment deal. The broader market remains bullish, with gains across several sectors, including state-owned banks, autos, and realty.
Indian equity markets hit fresh record highs, driven by gains in state-owned banks, automobiles, energy, and realty stocks. Broader markets, including mid- and small-cap shares, also traded positively. Amar Deo Singh, Head Advisory at Angel One, shared his views on several key stocks in the banking and telecom sectors.
Banking Sector Overview
Amar Deo Singh highlighted the strong performance in the private banking sector, specifically mentioning ICICI Bank Ltd and HDFC Bank Ltd. Both stocks have been performing well and continue to show strength in the market. Given their significant weight in the Nifty Bank Index, these stocks could drive the sub-index higher. Singh recommends a "buy-on-dip" strategy for both stocks, advising against shorting them due to their long-term potential.
Telecom Sector Insights
On the telecom front, Vodafone Idea Ltd (VIL) has seen significant volatility. Singh pointed out that the stock has halved from its one-year high due to various factors, including a Supreme Court ruling related to adjusted gross revenue (AGR) dues. However, VIL made a comeback after announcing a $3.6 billion deal with Nokia, Ericsson, and Samsung to supply network equipment over three years as part of a broader $6.6 billion capital expenditure plan.
In contrast, Bharti Airtel Ltd continues to hit record highs with no signs of weakness. Singh recommended accumulating Airtel shares during corrections, viewing the stock as a much stronger option compared to Vodafone Idea, which remains uncertain.
Market Outlook
The broader Indian markets remain robust, with gains in multiple sectors, including PSU banks, autos, oil & gas, and realty. Sub-indexes such as Nifty PSU Bank and Nifty Auto outperformed the broader market, reflecting positive investor sentiment.
Disclaimer
This article is for informational purposes only and should not be construed as investment advice. Investors are encouraged to consult a financial advisor before making any decisions.
