Going forward, innovative themes present in the midcap & small cap space (like speciality steel chemicals, home textiles, CRAMS, etc), superior earning potential and reasonable valuations make analysts at ICICI Securities believe that more upsides are in store for investors.
Sharing its top stock picks for the new year 2022, the brokerage has recommended ten shares that one can look to buy which include Bharti Airtel (target price: ₹860), the Phoenix Mills (target price: ₹1200), Minda Corp (target price: ₹220), Radico Khaitan (target price: ₹1,450).
The top stocks also include eClerx Services (target price: ₹2,900), Tech Mahindra (target price: ₹2,150), Orient Cement (target price: ₹250), Dwarikesh Sugar (TP: ₹110), NRB Bearings (TP: ₹220) and Aster DM Healthcare (target price: ₹250).
“Midcaps, small caps gave stellar returns in CY21. However, since the last peak in CY17, on an absolute basis, as on date, the Midcap index is up around 43% with small cap index gaining ~22% amid Nifty gains pegged at around 64%. This implies that over a longer time frame, midcaps & small caps have actually,” the note stated.
From a market perspective, sectors that ICICI Securities is bullish on are IT, capital goods, auto ancillaries (EV exposure), retail and real estate. “CY21 has seen a strong economic recovery from the unlocked lows.. At the onset of CY22, a sea change is expected in the way business operates and transforms itself given the innovations in the Digital and Tech world.
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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