6 Indian stocks on sale right now
With the recent slide in the BSE SENSEX you might want to look at the following stocks that seem to be on sale. The slide was bound to happen after a major uptrend that pushed the SENSEX to its highest point ever. There are no concerns of Indian economy softening anytime soon and therefore I am confident in picking up some of these stocks. The recent slide could be attributed to profit taking and global concerns including the US markets. You would want to build your positions slowly by buying small chunks.
Also remember that Indian stocks are a long term play.
1. SIFY (NASDAQ: SIFY) – Diversified internet company involved with anything to do with Internet in India. Infrastructure outsourcing will benefit Sify the most.
2. Tata Motors Inc. (NYSE: TTM) – Auto pick in the booming Indian auto sector. (The lackluster earnings also caused the decline in the case of Tata Motors)
3. HDFC Bank (NYSE: HDB) – Look at my article about Citigroup possibly buying out the bank after the liberalization in 2009.
4. ICICI Bank (NYSE: IBN) – Another pick in the red-hot Indian Banking sector.
5. DR. REDDY�S LAB LTD (NYSE:RDY) – Pharmaceutical pick.
6. Wipro (NYSE: WIT) – Might reach single digit and would be worth picking up for a trade.
Full Disclosure: I own shares of SIFY
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