Here is the list of Top Buys and Slls as released by BNP Paribas just minutes ago,
The top BUYs are Axis Bank, IRB Infrastructure, M&M, DRL and TCS. These ideas are consistent with our hypotheses of: 1) an increase in capex and credit growth, 2) consumption resilience, and 3) sustainable recovery in global corporate cash flows and corporate spending. Top SELLs remain ABB, Reliance Communication (RCOM) and DLF. Remain concerned about the valuations of ABB and DLF and about potential earnings decline for RCOM due to the continuing tariff war among the telecom service providers.
