Top picks: Axis Securities recommends these stocks to buy in December
Live MintThe Indian economy stands in a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy, said Axis Securities which continues to believe in the long-term growth story of the Indian equity market supported by the favourable structure emerging with increasing Capex enabling banks to improve credit growth. While the medium to long-term outlook for the overall market remains positive, the brokerage said we may see volatility in the short run with the market responding in either direction. Based on the above themes, the brokerage has suggested following as top stock picks for the month of December which include ICICI Bank with a target price of ₹1,150, Tech Mahindra, Maruti Suzuki India, State Bank of India or SBI. “If the market sails through the next 6-9 months smoothly, we may see the next triggers for the market and money would flow to EMs, thereby increasing the overall market multiple,” Axis Securities added.