Diwali Stock Picks: Insights from Abhijeet Bora on Market Opportunities
Bora expects the Nifty 50 index to grow by 7-8% this year and believes that returns will be low.
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Abhijeet Bora, who works at JM Financial Services during an interview with ET, talked about the stock market and shared some tips for Diwali shopping.
Market Situation
Right now, the stock market is down by 6%. This drop affects smaller companies more than larger ones. Bora thinks this could be a good time to buy stocks.
Diwali Stock Picks
For Diwali, he suggests buying these stocks:
Large Companies: Reliance Industries, Power Grid, Jindal Steel, and Bajaj Finance.
Mid-sized Companies: Gravita and Ashoka Buildcon.
Expectations for the Market
Bora expects the Nifty 50 index to grow by 7-8% this year. He believes that returns will be low. The market has been strong in the past, but it may get a bit rocky soon.
About Reliance Industries
Bora thinks Reliance Industries can reach a price of ₹3,500. The company has faced some problems, like lower earnings from refining and weak sales. However, he believes things will improve with new energy projects.
Concerns About Banks
Bora did not recommend any bank stocks. He said many banks are having trouble with loans and deposits. Investors might want to wait for better news in this area.
Jindal Steel and Power (JSPL)
Bora’s target price for JSPL is ₹1,150. Even though steel prices are low right now, he thinks JSPL’s focus on specific products will help them make more money.
In short, while the market has challenges, there are still good opportunities to invest as Diwali approaches.
