Emkay Global Alpha Portfolio: ICICI Bank, Infosys, SBI, Tata Motors, Bharat Forge, others in high-conviction buy list

SUMMARY

Domestic brokerage firm Emkay Global is bullish on large-cap stocks such as ICICI Bank, Infosys, SBI, and others. In the mid-cap space, its Alpha Portfolio includes stocks such as Ashok Leyland, Bharat Forge, Radico Khaitan, etc. The sector and stock selection reflect its bias toward themes of capex revival (infrastructure, corporate capex, and residential real estate), pick-up in discretionary consumption (pent-up demand post unlocking, festive season), rural resilience, global growth, and exports. The brokerage is meaningfully ‘overweight’ on Banks and Autos/Auto ancillaries, and significantly ‘underweight’ on Consumer Goods on expensive valuations.