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“Bank Nifty has been under pressure due to heavy FII selling, but we believe some reversal is possible now. Banking looks strong enough to lift the markets to levels around 25,800,” he said. While IT could see selective strength, Pandey remained cautious on the sector citing muted guidance and uncertainty around the US economy.
On the defence sector, Pandey highlighted strong growth visibility supported by a robust order pipeline. He pointed out that public sector majors such as Hindustan Aeronautics (HAL) and Bharat Electronics remain attractive, while private players like Premier Explosives, Astra Microwave, and Data Patterns also offer opportunities.
“In the next five to seven years, we could be seeing ₹8-10 lakh crore worth of orders. Defence is one of the few sectors that can consistently deliver mid-teen to high-teen growth. Any weakness here is an opportunity to buy,” Pandey added.
Premium key driver in alcobev
He also sounded upbeat on the alcobev space despite regulatory changes in states like Telangana and Maharashtra. Pandey sees premiumisation as the key growth driver for the industry.
“Allied Blenders is well-placed with margins expected around 15% and strong growth in premium segments. We have a target price of ₹640 on the stock. The entire space looks attractive to us given the profitability growth trajectory,” he said.
With banking expected to lead market momentum, defence offering long-term growth, and alcobev firms benefiting from premiumisation trends, Pandey believes these sectors could remain in investor focus in the coming months.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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