CLSA says PSU stocks lead the way among 54 F&O shares benefited from PM Modi's policy; get details

CLSA analysts say that as many as 54 futures and options (F&O) company stocks have benefited from Prime Minister Narendra Modi's policies. The brokerage says PSUs are leading the way, as half of those 54 companies are PSUs.

CLSA says that a better performance from those 54 stocks is expected due to strong Lok Sabha Elections 2024 results.

There is further rise expected in the performance of these F&O stocks due to election results by June-July, the brokerage opines.

Zee Business managing editor Anil Singhvi says that Nifty will have a strong support in the range of 22,400-22,600 till June 3. He also says that Nifty Bank will have strong support at 48,000-48,200.

The brokerage says that banks will offer better risk-reward in H2CY24.

HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank are the preferred banks to witness growth, according to the report.

Non-PSUs like Ashok Leyland, Ultratech, and L&T are the preferred stocks, the brokerage report further reads.

Preferred Modi Stocks: CLSA Analysts

CLSA has picked PSU stocks and other leading stocks.

It has given a target of 27 per cent upside to NHPC.

While NTPC can go up by 22.50 per cent, ONGC is expected to rise by 22 per cent. 

It expects Indus Towers to rise by 31 per cent, while Mahanagar Gas Limited can rise by 28 per cent.

Stocks to benefit from India Growth Strategy : CLSA Analysts

CLSA says that stocks such as Bajaj Finance, Max Financials, Zomato and DMart can be the biggest gainers in the Indian growth strategy.

It has given 44 per cent upside for Max Financials, 37 per cent rise for Zomato, and 34 per cent for Bajaj Finance.