Zee Business Damdar Diwali top pick: Sanjiv Bhasin recommends this stock

Zee Business Damdar Diwali stock: Investors are hurrying to pick up stocks ahead of the auspicious day of Diwali. The festival is considered to be auspicious for making investments. There is the tradition in some parts of India when people invest in shares and other specious metals on Diwali. Retail investors often find it difficult to pick right stocks, as they don't have access to first-hand information. In stock market, information is the wealth. Sanjiv Bhasin, Director, IIFL Securities Ltd, has recommended Axis Bank's share that may give you good returns.

Sanjiv Bhasin said though the bank has under-performed in the recent past, the company will do well as it has taken various steps to improve its business. The bank has also raised capital to maintain capital adequacy. Axis Bank has raised almost Rs 13,000 crore. The bank's share is trading at Rs 690.95, up 1.08 percent, on the BSE. This stock has the potential to do well and Axis bank will be one of the best performers in 2020.

Bhasin said that this stock will give a good return by the Diwali next year (2020). He said that the bank's new management and policies are very strong and it will help it do well.  Fee based activities, retail and corporate loans make it an outperformer.

This is a very good investment idea where the investors may get big returns, Bhasin said. The bank's book also looks strong and in the coming year, it will do good.

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