JM Financial stays underweight on IT, prefers NBFCs over banks
In short
JM Financial says non-banking financial companies may grow faster than private and public sector banks in the second quarter. It also keeps a negative view on the IT sector for the medium term.
This matters because it can influence investor positioning in NBFCs, banks and IT stocks. The report does not give specific stock names or the exact reasons for the call.
What the reporting says
JM Financial expects non-banking financial companies to outpace private and public sector banks in second-quarter growth, while keeping a negative medium-term view on the information technology sector. The market summary says the firm continues a structural underweight stance on IT and favors NBFCs instead. The specific stock calls and the basis for the view are not stated.
Why it matters
The reported note from JM Financial favors non-banking financial companies over private and public sector banks for second-quarter growth and keeps a negative medium-term view on IT. That stance could shape investor sentiment in banks, NBFCs and IT stocks. However, the source does not provide specific stock recommendations or detailed supporting data.