Hindalco, HUL, GAIL among 24 stock recommendations by Yes Securities

Yes Securities has mentioned 24 stocks across 8 sectors, including Hindalco, HUL, GAIL, in its conviction list post the election results, observing that markets tend to perform well after the polls.

Here is a list of the mentioned stock ideas:

Auto: Samvardhana Motherson


Building Materials: Greenply, APL Tubes

Durables: Voltas, Amber, Symphony

Consumer Staples: Dabur, Hindustan Unilever (HUL), Marico, Britannia, Gille

Metals: Hindalco, JSW Steel

Oil & Gas: Oil India, GAIL, HPCL, BPCL

Pharma: Alkem, Torrent Pharma, Indoco Remedies

SFBs and NBFCs: LIC Housing, Shriram Finance


“Given the market multiples, another 10% correction cannot be ruled out. However, the adjustment due to the election results is now complete,” says Hitesh Jain, Lead Analyst at Yes Securities.

Historically, post elections, markets have performed well over 6-12 months, which is depicted in the table below:

NDA forming a coalition government was not the most favorable outcome the stock market had hoped for and in this new scenario, a lower valuation multiple is necessary to account for coalition government risks and their impact on the reform trajectory.

Also read: PSU, defence, rail, and bank stocks surge up to 13% as election shock wears off

Despite the recent adjustments, the domestic brokerage states that it does not believe this marks the end of the bull market

“This is not the time to pay high premiums for stocks or to buy solely based on the hope of future reforms,” Jain added.

Historical market trends, continuity of PM Modi’s regime, productive government expenditure, FII investments and market corrections are among other reasons that present an encouraging picture for the Indian equity markets.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)