So, which metal shares should you buy now? Know what the analyst said.
“Hindustan Copper has moved very fast in a short span of time. From around Rs 435, it crossed Rs 550. It has clearly run ahead of expectations,” he said. According to thim, the stock appears overheated at current levels.
Should you follow 'buy-on-dips' strategy for Hindustan Zinc stock?
On the other hand, Gorakshakar said Hindustan Zinc remains better positioned from an investment perspective, provided investors adopt a buy-on-dips strategy.
“If someone is looking at a one-year horizon, Hindustan Zinc can still deliver decent returns. But after a big move, stocks tend to consolidate, and investors often get stuck if they chase rallies,” he said.
He has expected that Hindustan Zinc stock to benefit from firm silver and zinc prices. The company is cash-rich, offers healthy dividends and is well placed from a profitability standpoint, Gorakshakar said.
“Q3 numbers should be good, and as long as silver and zinc prices remain supportive, the outlook stays positive,” he said.
Should you buy HDFC Bank shares now?
On the banking space, Gorakshakar has recommended investors not to rush into HDFC Bank at current levels, citing recent weakness in the stock.
“There has been some decline in HDFC Bank. Clarity will likely emerge only after Q3 results and management commentary,” he said, suggesting investors wait before taking fresh positions.
ICICI Bank, Federal Bank top banking picks
Among private sector banks, Gorakshakar said ICICI Bank and Federal Bank are his preferred picks even at the current levels.
“These banks are attractively positioned and trading in a consolidated range. From a risk-reward perspective, they look favourable,” he said.
He also maintained his positive buy call on select PSU banks like State Bank of India and Bank of Baroda.
However, he said private banks such as ICICI Bank and Federal Bank offer better overall visibility. Not just Q3, but the second half of FY26 could be very strong for these banks, according to him.
Pidilite Industries a long-term compounder
On consumer stocks, Gorakshakar said Pidilite Industries remains a strong long-term play despite near-term valuation concerns.
“Pidilite stock is a market leader in the adhesive space with up to 60 per cent market share. The company's shares is a classic compounder stock with a strong balance sheet and low volatility,” he said.
While the company faced margin pressure in recent quarters due to higher input costs and slower revenue growth, Gorakshakar expects improvement over the next few quarters as the impact of recent expansion plays out.
“For long-term investors, there is potential for up to 20 per cent upside over the next one year.
But in the short term, valuations are fair to slightly expensive,” he said.
https://www.youtube.com/watch?v=hmle0fbYQ-g
Oil & gas, metals in focus amid global uncertainty
On sectoral strategy amid geopolitical uncertainty, Gorakshakar said oil marketing companies (OMCs) appear well placed in the near to medium term. “We expect good GRMs this quarter. Developments like Venezuela could increase oil supply, which is positive for OMCs if crude prices remain stable,” he said.
He suggests stocks like Indian Oil, HPCL and BPCL as shares that could see profit traction in the near term, while upstream players such as ONGC and Reliance Industries could benefit over the longer term.
In metals, Gorakshakar said Tata Steel remains his preferred long-term pick, citing stability and earnings visibility. “Q3 and the coming year should be good for Tata Steel,” he said.
In the end, Gorakshakar has suggested investors to avoid chasing momentum and instead spread investments across sectors.
“Rather than putting money in one theme, investors should add quality stocks gradually across sectors to benefit from different opportunities,” he said.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
Avinash Gorakshakar, Director of Research at Profitmart Securities, is currently focusing on a "stock-specific" approach for early 2026. His strategy emphasizes high-conviction picks in sectors like banking, hospitality, and industrials, with a particular eye on companies benefiting from the upcoming Union Budget 2026.
Here are his recent recommendations and strategies across your requested sectors:
1. Banking & Financials
In the banking space, Gorakshakar favors private sector leaders and specific undervalued picks, though he has expressed caution on some heavyweights due to recent volatility.
Top Pick: Axis Bank (Target: ₹1,550). He remains positive on its long-term growth trajectory within the financial services segment.
Other Notables: He has recently discussed IDBI Bank and Federal Bank as potential opportunities, while advising caution on HDFC Bank following its recent price pressure.
Strategy: Look for banks with strong credit growth and stabilizing NIMs (Net Interest Margins). He also sees potential in the Public Sector Bank (PSU) space if the government raises the FDI limit to 49%, as currently rumored.
2. Metals & Energy
While Gorakshakar often focuses more on industrials and capital goods, his views on metals and energy are tied to infrastructure and the "green energy" transition.
Metals: He has recently noted the settlement between SEPC and Hindustan Copper, suggesting a specific interest in copper as a proxy for the EV and infrastructure boom.
Energy/Power: He is bullish on the "New Energy" domain. While he monitors the heavyweights, he often looks at companies providing the ecosystem for energy, such as Larsen & Toubro (L&T) (Target: ₹4,500), which is expanding heavily into green hydrogen and ammonia.
Strategy: Prefer companies with strong order books in power transmission and minerals.
3. Other High-Conviction Picks for 2026
Beyond those specific sectors, Gorakshakar has identified several "Baahubali" (strong) stocks for the 2026 portfolio:
| Stock | Target Price | Sector |
| :--- | :--- | :--- |
| Mahindra & Mahindra (M&M) | ₹4,000 | Auto / Industrials |
| Indian Hotels | ₹900 | Hospitality |
| Anant Raj Industries | ₹680 | Real Estate / Data Centers |
| Sundaram Fasteners | ₹1,200 | Auto Ancillary |
| Yatharth Hospital | (High Conviction) | Healthcare |
Expert Strategy: The "Budget 2026" Playbook
Gorakshakar’s current strategy can be summarized in three pillars:
Industrial & Infrastructure Bias: Focus on companies like L&T and M&M that are core to India's capex cycle.
Asset-Light/Consumer Growth: Betting on the recovery in tourism and domestic consumption via stocks like Indian Hotels.
Data Centers & Tech: Identifying niche players (like Anant Raj) that are pivoting toward the high-demand data center infrastructure space.
Note: Stock investments are subject to market risks. These targets are usually set with a 1-year horizon. It is advisable to consult a certified financial advisor before making any investment decisions.
Would you like me to look up the latest quarterly performance or specific "Buy/Sell" levels for any of these stocks?
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