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Meet 14% of stocks which are swimming against the tide on Dalal Street this year

| October 10 2018 10 : 12 IST | The Economic Times

Abhimanyu Sofat, VP-Research, IIFL, says there are plenty of opportunities for those looking for options in this market after the correction 

Abhimanyu Sofat, VP-Research, IIFL, says there are plenty of opportunities for those looking for options in this market after the correction.

“There are always opportunities in the market. In the smallcap space, something like a Tata Sponge looks quite interesting. From the auto sector, MM Forging looks interesting, considering that 60% of its business comes from exports and with tailwinds of Series-8 trucks growth in the US being strong along with the currency depreciation and domestic HCV industry also doing pretty well, that stock is a decent option to accumulate,” he said. 

Shares of Tata Sponge and MM Forging plunged 20 per cent and 10 per cent so far in 2018. 

“Among the largecaps, we are more bullish on private sector lenders like ICICI and Axis Bank as well as stocks like Reliance Industries, where one should look to add positions on any downtick,” Sofat said. 

Source: https://economictimes.indiatimes.com/markets/stocks/news/meet-14-of-stocks-which-are-swimming-against-the-tide-on-dalal-street-this-year/articleshow/66145748.cms

 

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