Strategy Report – July 2012
Summary of Views
m Positive on the markets – Expect Sensex to breach 20,500 by March end 2013
m Key Overweight – Banking and Pharma sectors and Midcap Space
m INR should see bottom at 57/USD and appreciate closer to 54 levels post presidential election
m Monsoons remain a concern but real impact on economy diminishing
m Expect government action on FDI in multi-brand retail and passage of Bills (pertaining to Insurance, Banking & Pension) due to mounting pressure from weak macro, drawdown of forex reserves and recent political realignment
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m Top picks
— Axis Bank
— Cairn
— Coal India Ltd. (CIL)
— GSK Consumer Healthcare
— Hero Moto Corp Ltd. (HMCL)
— Hindustan Zinc Ltd. (HZL)
— ICICI Bank
— Karur Vysya Bank
— Lupin
— NIIT Ltd. (NIIT)
— NMDC
— Petronet LNG
— Prime Focus
— Wyeth
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