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Mutual fund managers are increasingly being choosy while picking stocks in the mid-cap and small-cap space amid concerns over rich valuations. In January, they selectively bought pharmaceuticals, while shuffling their holdings in the banking and financial services industry (BFSI) space after shares of private lenders fell on worries about their profitability.
India’s benchmark BSE Sensex rose 19% in 2023. Axis Securities recommended 10 stocks for 2024 including Maruti Suzuki, PNB, JSW Steel, Wipro, Divi’s Laboratories, GAIL, Grasim Industries, HUDCO, Voltas, and Patanjali Foods.
