Market experts from Mirae Asset Sharekhan and Equinomics Research provided specific investment guidance for major Indian stocks during NDTV Profit's Ask Profit show. According to reports from NDTV Profit, Kunal Shah, Senior Technical and Derivative Analyst at Mirae Asset Sharekhan, and G Chokkalingam, founder of Equinomics Research, addressed investor queries about key stock selections and market timing strategies. Shah emphasized that if consolidation occurs around ₹2,900, one can go long on Trent stock, while Chokkalingam maintained an 'underperform' rating for the IT sector due to ongoing challenges.
The experts analyzed several stocks trading at specific price levels, with Trent Ltd. trading at ₹2,927.80, State Bank of India at ₹1,038.10, and Samvardhana Motherson International at ₹143.37. As reported by NDTV Profit, Shah recommended holding Trent with a potential long position if consolidation occurs around ₹2,900, while Chokkalingam suggested holding Samvardhana Motherson despite expensive valuations due to strong growth prospects. Shah noted that Trent has seen good correction in the high levels in past two days, making it an attractive entry opportunity.
For banking stocks, Shah identified State Bank of India as a buy opportunity on dips, recommending entry levels between ₹1,020-₹1,010 following recent corrections. According to NDTV Profit reports, he expects the stock to target ₹1,100-₹1,120 on the upside, stating that valuation is expensive but it's a strong growth stock with more steam left in the stock. Meanwhile, for Hindalco Industries trading at ₹969.50, Shah advised holding with potential for a rally to ₹1,050 on the upside, noting no need to book profits on current level.
Regarding IT stocks, Chokkalingam expressed caution about short-term performance, maintaining an 'underperform' rating for the sector due to ongoing challenges. As reported by NDTV Profit, he remains optimistic about Infosys specifically due to AI investments, suggesting the stock should be held despite current headwinds facing the broader IT sector. However, he warned that pain is going to continue for IT stocks on short term, highlighting the sector-wide challenges facing technology companies. The latest rise in IT shares may partly reflect bargain buying after the steep fall, but the real test will come with Q1 results and management commentary.
Indian IT stocks have experienced severe corrections, with TCS, Infosys, Wipro and LTIMindtree down at least 50% from their all-time highs. Across 10 major IT companies, the combined market-cap loss from peak levels is estimated at more than ₹17 lakh crore. TCS has seen the biggest destruction, falling 56% from its all-time high of ₹4,592.25 in August 2024 to around ₹2,033, with its market cap dropping from ₹16.48 lakh crore to ₹7.36 lakh crore, wiping out more than ₹9.12 lakh crore. Infosys has nearly halved from its peak of ₹2,006.45 in December 2024 to ₹1,006, with its market value falling from ₹8.30 lakh crore to ₹4.08 lakh crore. Despite these challenges, Indian IT stocks gained on Tuesday with Infosys rising nearly 4%, TCS gaining 3%, Tech Mahindra up 3.4%, and Mphasis advancing 3%, even as Asian technology shares came under pressure.
