Solanki: Buy HDFC, ICICI Dip as Middle East Rout Eases
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- Narendra Solanki of Anand Rathi told ET Now that the current selloff, triggered by escalating Middle East tensions in their fourth or fifth day, is temporary and not a 'forever kind of situation'
- HDFC Bank and ICICI Bank are Solanki's two top picks among fallen quality names, now trading at what he called 'decent, comfortable valuations'
- Industrial clusters have already reported a 50% reduction in gas supply as the conflict's economic ripple effects begin to bite beyond oil prices and manufacturing supply chains
- Power T&D — specifically HVDC infrastructure for evacuating solar power — is Solanki's preferred play within energy, while he favors Blue Star, Havells, Orient Electric, Crompton Greaves, and Voltas in consumer durables ahead of an El Niño-amplified summer
- Emcure Pharmaceuticals and Shaily Engineering Plastics are Solanki's pharma picks tied to a generic drug launch slated for March 21 in India and April in Canada, with six to eight players including Sun Pharma, Natco, Zydus, Ajanta, and Abbott expected on day one
- Garden Reach Shipbuilders & Engineers (GRSE) is Anand Rathi's single highest-conviction long-term pick for the calendar year, carrying a price target of ₹3,500 and a strategic diversification into commercial shipping
Why it matters: With Middle East tensions now in their fourth or fifth day and industrial gas supply already down 50% in some clusters, Solanki's call reframes the geopolitical shock as a 12-month buying window for long-term investors — his ₹3,500 target on GRSE and explicit endorsement of HDFC and ICICI at current levels give Anand Rathi clients a concrete entry thesis rather than a generic 'stay invested' bromide.
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