Pointers at Glance
- One stock brokerage Kotak Securities remains bullish on two stocks even though India’s stocks have not had a good start in the first half of 2022.
- The Nifty 50 index and S&P BSE Sensex are both down by almost 9% since the start of the year. Reliance Industries’ stock is up around 5% in the same period, but Infosys shares have fallen around 20%.
- Shrikant Chouhan, Executive Vice President and Head of Equity Research at Kotak Securities, shares views on Reliance Industries and Infosys regarding the stocks.
The stocks of India did not have a good start in the first half of the year, but stock brokerage Kotak Securities remains bullish on two stocks.
Reliance Industries
Shrikant Chouhan, Executive Vice President and Head of Equity Research at Kotak Securities, said that Reliance Industries, an energy & telecommunications union, has been making a lot of acquisitions and is super fast in converting companies into digital businesses.
He added that the Reliance company is taking the next steps in the right direction as telecom and digital will contribute significantly in the future. He also said that they expect the stock to move towards at least INR 2,850 or 3,000 in the next couple of weeks. That shows a 20% upside from Reliance Industries shares price of INR 2,492.65 at Monday’s close. Broadly they believe that Reliance Industries will do well.
The company’s shares are up around 5% since the start of the year, while India’s Nifty 50 index and S&P BSE Sensex are down nearly 9% over the same duration.
Infosys
Another company Kotak Securities likes is Infosys, which has fallen more than 20% since the start of 2022.
Chouhan stated that the IT company is doing very well in reaching its clients’ order goals and services. He added that though their customers’ revenue is less, Infosys would be supported by the growth of its developed platforms. Infosys is trying to recover from the pressure many information technology companies have encountered.
He mentioned that Kotak Securities thinks that Infosys will also do well because of its professionalism, and the company has already seen many such cycles in the past.
