IIFL’s top bets: RIL, HDFC Bank, L&T, ITC
  • WebDesk BTVI
  • Jul 22 2019

Abhimanyu Sofat, IIFL, speaking on earnings pressure and foreign fund inflows looking pessimistic, says it is due to high taxation on high net worth individuals and increase in tax surcharge on foreign portfolio investors in the Budget. He says the muted sentiment in the market is also due to corporates not being able to repay in the last 2-3 months due to rating downgrades. He expects challenges for banks going forward if they attract NPAs. The expert recommends RIL, HDFC Bank, L&T, ITC.