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Stocks You Wont Find at Macy's!

A large range of stocks have been battered over the past couple of weeks as Indian markets took a turn for the worse. However, some names stand out as a long term investor's dream bets and if one isnt worried about markets too much, some stocks are begging for attention at current prices.

A Top 5 on the "India 2012" shopping list should definitely have :

1) INFY - Battered as it outperformed earlier, Weak on news of a regulatory issue in the US and a clarification on revenue guidance leading to weakness which we consider overblown vis-avis the IT index

2) HDFC Bank - Hung on as long as it could but finally gave way last week, High margins coming under threat from increasing competition seen as rationale - Again, in our mind, a gem of a stock for the long term investor at current levels

3) ICICI Bank - Cyclical weakness, on par results and lowering of weightage on the MSCI led to extra normal weakness - our analysis points to it being available at a very deep discount to its competitors at current levels.

4) L&T - Bellwether stock for the Indian capital goods industry and a key beneficiary of future investment recoveries - Sharp correction much higher than markets as muted order flow, general weakness in capital goods etc has led to extremely attractive prices. If the India story exists, L&T is a definitive pick

5) M&M - Again, an extremely sharp correction post some muted results and overall markets- Key beneficiary of the Indian Growth story, launching innovative products over the next 2 years and has deep inroads into rural India. Focused player with strong margins.

These are stocks that possibly also make for a balanced portfolio with a combination of high and low betas, exposure to international as well as domestic growth recovery and exposure to pure domestic plays. We do believe Indian markets can move lower hence a hedged / market neutral exposure to these stocks is advised.

(And we dont believe Macy's could have matched these discounts on Black Friday!)