“Housing affordability today is at the best levels we’ve seen in the last 20 years and broadly, we are seeing job creation in the economy supporting that thesis nicely,” Mahesh Nandurkar, head of research at Jefferies India Pvt., told Bloomberg Television last week. Strict lockdowns pushed out small and marginal players, and expanded the market for strong developers.
The pandemic triggered a correction in property prices in India even as the work-from-home trend helped boost demand for house ownership. Top picks include State Bank of India, ICICI Bank Ltd.
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“The retail segment has been the key driver of credit offtake and will continue to remain so, coupled with agriculture and the micro, small and medium enterprise segment.” “Banks have focused on balance sheet strengthening,” steadily building up their provisions, Pankaj Pandey, head of research at ICICI Direct, wrote in a note. and HCL Technologies Ltd.įollowing a multi-year credit crisis exacerbated by the Covid-19 economic hit, analysts expect the worst has passed for lenders’ asset quality and loans. Top picks include Tech Mahindra Ltd., Infosys Ltd., Tata Consultancy Services Ltd. “This theme may remain one of the predominant ones.” “Digitization has meant that Indian IT companies are growing at the fastest pace seen over the last decade,” Santosh Kumar Singh, head of research at Motilal Oswal Asset Management Co., wrote in a note.
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