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The year 2019 has been a mixed bag for the capital markets. The corporate tax rate cuts, increased FII’s and easing of business norms have had a positive impact on markets. At the same time, earnings delivery (which had been evasive since last 3-4 years) by India Inc. and the snowball effect of NBFC crisis led to the slowdown in discretionary consumption especially in the auto sector, thus adversely affecting the markets. With 2020 around the corner, we expect it to be a good year for equity investments, especially ‘Mid Caps’, following the aggressive reforms undertaken by the government treading the fiscal prudence path. In order to benefit from the expected shift of focus towards Mid Caps, Axis Securities brings to you a bouquet of handpicked stocks for investment over the next year.

On behalf of all of us at Axis Securities Limited we wish you and your family a Merry Christmas & a Happy New Year!