Key Points
In a recent note, brokerage house IIFL Securities forecasted that it expects 1) Indian GDP growth sustaining at 6%+, 2) globally declining inflation and yields, but 3) weakening global growth thanks to monetary tightening over the last 2 years causing commodities price softness..
While monetary easing normally suggests commodities buoyancy, this time it is unlikely thanks to weak global demand (lag effect of monetary tightening) and improving supplies (especially crude), and this will help earnings, believes IIFL...
Read here: Smallcap, midcap stocks surge: CLSA urges caution amidst stretched valuationsSectors..
Another buy for IIFL is Nykaa, which has beaten off doubts on Tata and Reliance invading its BPC turn, and has curbed its losses on fashion, and is one of the internet stocks that has significantly underperformed in 2023..
"In 2023, all Auto OEM stocks outperformed Nifty, despite the volume growth across auto segments coming off substantially vs FY23..
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