Stocks to buy: JM Financial cherry picks 39 stocks amid FII-led stock market crash
Live MintStocks To Buy: The Nifty 50 has seen a sharp correction, falling almost 11 per cent from its September 2024 peak, driven primarily by sustained outflows from foreign institutional investors and concerns over underwhelming corporate earnings. Market Correction and Stock Recommendations JM Financial noted that during this market correction, 21 per cent of the stocks within its coverage universe have declined by over 30 per cent, 55 per cent have fallen by over 20 per cent, and 72 per cent have dropped by over 15 per cent. Mid-Cap Opportunities Among mid-caps, Supreme Industries, which has plunged 41.9 per cent from its 52-week high, and Oil India, which is down 37.6 per cent, have emerged as top recommendations. The brokerage highlighted that India’s gross fixed capital formation as a percentage of nominal GDP has been rising for four consecutive years and is projected to reach 31.5 per cent in FY25. JM Financial noted that 66 per cent of the companies within its coverage universe witnessed downgrades to their FY25 earnings per share estimates following second-quarter results.