IDFC Securities Adds ONGC To Top Picks On ‘impressive Output’

IDFC Securities Adds ONGC To Top Picks On ‘impressive Output’

India Inc.’s earnings are bound to be volatile for the next few quarters due to disruptions from the Goods and Services Tax and weak underlying economic activity, said IDFC Securities in its ‘India Strategy’ report.

While the long-term story remains intact, near-term disruptions will lead to slower than anticipated earnings growth, the report said, leading to a “range-bound” market in the near-term. The firm maintained its Nifty target at 9,825.

Keeping the sectoral trends and the economy in mind, the report highlighted their top stock picks with Oil and Natural Gas Corporation being the only new addition. Read More…

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