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Axis Securities' top 16 picks for March: ICICI Bank, Tech Mahindra and more 

The top picks basket from Axis Securities generated a positive return of 0.7% since February 1, 2023, outperforming the Nifty 50 index, which fell 1.7% over the same time frame.

The basket of its top picks has generated a remarkable return of 149% since its inception in May 2020, a figure that is noticeably higher than the 87% returns recorded by the Nifty 50 during the period.

In the light of this, the brokerage continues to support its thematic method of choosing top choices.

Let's look at its best selections for March.

The brokerage in its report said that the bank does not intend to cap the mix of these segments in the overall portfolio. It expects the bank to continue delivering healthy growth of 19% compound annual growth rate (CAGR) over the medium term.

The brokerage believes Tech Mahindra has a superior services mix and multiple long-term contracts that are well-spread across the verticals, reducing its dependency on any one vertical.

Strong order book, higher share of premium SUVs in the sales mix will drive the revenue/EBITDA/PAT growth in FY23-25. 

According to the brokerage report, the bank's loan growth remained robust on the business front in Q3FY23.

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Axis Securities' top 16 picks for March: ICICI Bank, Tech Mahindra and more

The basket of its top picks has generated a remarkable return of 149% since its inception in May 2020, a figure that is noticeably higher than the 87% returns recorded by the Nifty 50 during the period. In light of this, the brokerage continues to support its thematic method of choosing top choices.

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Axis Securities' top 16 picks for March: ICICI Bank, Tech Mahindra and more

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