Fresh retail investments worth Rs 10,000 crore in the next fiscal is expected to provide the liquidity needed to drive the equities market upwards. The liquidity will raise the valuations of the equity markets. HDFC Securities in its latest report has projected a bullish view of the stock markets with foreign institutional investors also expected to chip in and make their presence felt in a big way.
Stocks offering valuation, growth and those with high dividend yields are projected to be the main picks for the next fiscal. Under valuation plays the stocks are Tata Steel, Grasim, ONGC, Mahindra & Mahindra, Bajaj Auto and Bharat Heavy Electricals.
Among the growth stories are