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ICICI Direct's top 9 picks for March:  Ambuja Cements, HDFC Bank and more

 On the backdrop of progressive Union Budget, revival of capex cycle, healthy credit growth and asset quality in the banking sector, brokerage maintains an optimistic outlook for the domestic markets.

Domestic markets remained robust due to the Union Budget 2023–24's focus on growth and the lack of significant changes to the capital gains tax structure.

The brokerage said that any dips should be used to build a long-term portfolio of quality companies that have lean balance sheet and are capital efficient in nature and possess growth longevity. 

The brokerage is positive on sectors like capital goods, auto, infrastructure and banks.

Let's take a look at the brokerage's top picks for March 2023.

Ambuja Cement
According to the brokerage, the new management intends to boost combined capacity to nearly 140 million tonne over next 5 years.

Aditya Birla Fashion & Retail
The company with strong bouquet of brands is well placed to accelerate the pace of store addition and revenue growth.

Adani Ports and Special Economic Zone
With a 25% share of port cargo movement in India, the company is the biggest commercial port operator in the country.

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ICICI Direct's top 9 stock picks for March: Ambuja Cement, HDFC Bank and more

The brokerage in its report stated that any dips should be used to build a long-term portfolio of quality companies that have lean balance sheets and are capital efficient in nature and possess growth longevity. The brokerage is positive on sectors like capital goods, auto, infrastructure and banks.

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ICICI Direct's top 9 stock picks for March: Ambuja Cement, HDFC Bank and more

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