Dharmesh Kant, Head Research at Chola Securities, flagged banks, mining, AI, autos, and consumption as high‑value themes for the coming quarter.
Kant singled out Coal India, NMDC and a trio of private banks—HDFC, ICICI, and Axis—as strong plays, citing their robust earnings and debt‑free trajectories.
Conversely, he sounded a warning on FMCG and paints, pointing to margin compression and regulatory headwinds that could dampen returns.
The research also highlighted AI infrastructure as a growth catalyst, noting the sector’s recent uptick in capital expenditure and the potential upside from upcoming policy support.
Kant ended the bulletin by noting the insurance reforms underway, suggesting they could unlock new valuation premiums for insurers and related fintechs.
He will revisit these themes in the next research bulletin scheduled for next week, offering clients a concise view of where the market may drift.