Bhasin picks top stocks to bet on in April & new fiscal

Sanjiv Bhasin, Director, IIFL Securities, says ONGC and HDFC Bank continue to be top ideas in a largecap-led rally because now it is time they both started to perform. However, the jewel in the crown is going to be BEL because in April, PSUs will outperform on the back of results and after a small bit of correction in which BEL hardly corrected. But now, we are on the edge of a very good earning season which will be led by BEL, ONGC and HDFC Bank.

Give us some picks for the April series.

Sanjiv Bhasin: Last week at 21,800, I told you to not get perturbed as expiry will be closer to new highs or new old highs. I even thought of 22,400, but the market has exceeded that 22,500 and I think we will hit new highs now from 1st of April. This was a very good opportunity and like I said, it is the largecaps which have driven the market – , L&T, Reliance, Maruti and ICICI Bank. I would leave you with one jewel in the crown for the April series and for the rest of the year, if you may permit.

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Go ahead.

Sanjiv Bhasin: It is Bharat Electronics. Of all the PSUs, the one which is going to be an outperformer is Bharat Electronics. It hit a high of 216 recently and in the correction, it has hardly corrected. But if you see the order book, the defence contracts and the top and bottom line, will surprise everyone.

You have seen capex goods go through the roof like ABB, Siemens. Bharat Electronics for me is a Rs 350 stock by this year end and in this April series I am looking at Rs 240 at least. So, Bharat Electronics is the best stock to buy and that is my jewel in the crown for April and for 2024.

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Since you believe that it is going to be a largecap-led rally, let us have one top largecap idea. Does it continue to be ONGC?

Sanjiv Bhasin: Correct, it is ONGC and I will leave you with HDFC Bank because now it is about time they both started to perform. However, the jewel in the crown is going to be BEL because in April,

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