InvestorQ : With a Biden victory now looking like an increasing reality, what is your view on specific stocks? Do you have any specific stock tips for 05 November?
Arusha Ray made post

With a Biden victory now looking like an increasing reality, what is your view on specific stocks? Do you have any specific stock tips for 05 November?

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diksha shah answered.
3 weeks ago
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You will have to wait for the final numbers but it does increasingly look like Biden may be moving towards the White House. Hence your strategy should be directed to a mini rally that could be triggered. Remember, even Trump election in 2016 had triggered a rally. This is about expectations not about reality.

Firstly, you can look to pick Infosys at Rs.1090 levels for upside targets of Rs.1250. With a new government in place in the US, the strategy towards Indian IT is likely to get sober and also more liberal. While H1-B concerns may still remain, Biden policy could be friendlier.

Keep an eye on Adani Enterprises the holding company of the Adani Group. The results of may have shown a turnaround in the Sep-20 quarter but the real cream would be the massive investments that the group is planning worth Rs.50,000 crore. You can buy Adani Enterprises at Rs.350 for upside targets of Rs.450 in 2 months time frame.

Finally, you can also look at Apollo Tyres at Rs.145 for upside targets of Rs.180 on the back of solid growth reported in the Sep-20 quarter. The profits have more than doubled in the Sep-20 quarter and volumes are now above pre-COVID levels. You can look at Apollo Tyres for the medium term.

The moral of the story is that a Biden victory is again likely to raise expectations of better US-China relations and a return to normal on the world trade map. As Biden inches to 270, global markets are likely to rejoice on the promise of an end to uncertainty.

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