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Angel Broking Bets on Market Rally in 2016. Here Are Its Top Picks

The brokerage is betting on automobile, IT, and retail finance companies on expectations of strong earnings growth for these sectors.
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Angel Broking Bets on Market Rally in 2016. Here Are Its Top Picks

Angel Broking says macro factors are falling in place to create the right condition for the markets to rally in 2016. Savings from crude oil fall and the government's fiscal discipline, despite an increase in infrastructure spending, will help curtail current account deficit further, the brokerage said. 

With government's increased focus on infrastructure spending, there will be a revival in investment cycle, which will be key to push the earnings trajectory upward over the current year, Angel Broking added. 

The brokerage is betting on automobile, IT, and retail finance companies on expectations of strong earnings growth for these sectors. 



Here are Angel Broking's top picks in the large-cap and mid-cap sectors: 

In the large-cap segment, the brokerage recommends buying Infosys (target Rs 1,306), LIC Housing Finance (target Rs 592), L&T (target Rs 1,646), HDFC Bank (target Rs 1,262), HCL Tech (target Rs 1,132), Ashok Leyland (target Rs 111) and Amara Raja Batteries (target Rs 1,040). 

In the mid-cap space its recommendations are: Blue Star (target Rs 439), Garware Wall Ropes (target Rs 473), Navkar Corp (target Rs 265), Radico Khaitan (target Rs 156), Siyaram Silk Mills (Rs 1,354) and Surya Roshni (target Rs 201).



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