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 What should your investment strategy be after Budget? Top brokerages share advice

From an investor’s point of view, the Union Budget has further reinforced our conviction on the three investment themes of Capex, Credit & Consumption.

In line with the three investment themes, its preferred picks are ITC, HDFC Bank, SBI, M&M, L&T, and Bharti Airtel among largecaps.

IIFL sees interesting opportunities in private sector financials, consumer discretionary, industrials and materials to participate in the domestic economic recovery.

It continues to maintain an overweight exposure to the secular segment and remains underweight in value traps across most of its portfolios. 

It advises investors to allocate via hybrid funds such as Balanced Advantage & Multi-Asset Funds. 

Conservative investors can consider Equity Savings and Conservative Hybrid Funds, it suggested.

It remains constructive on markets, although near-term volatility remains high given that India has been amongst the best-performing markets last year.

PL replaced Axis Bank with ICICI Bank in top picks since earnings quality remains stronger for ICICI Bank.

Both from a cyclical and structural perspective, India seems to be better placed vs the rest of the world due to policy reforms in the recent past, government led capex focus, stronger corporate.

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