Bharti Airtel, State Bank of India, Zomato on Jefferies hotlist for 5 years

Jefferies has identified 11 stocks set to benefit from long-term macro trends like capital expenditures, government manufacturing initiatives, and financialisation. The brokerage expects these equities to more than double by 2029.

“The capex cycle theme drives several of our top picks (Ambuja, Axis, JSW Energy, L&T, Macrotech). Other themes to play include government manufacturing push (Amber), PSU reforms (SBI), penetration stories (Max Health, Zomato), financialisation of savings (Axis, SBI) and key consumer/ bottom-of-pyramid ideas (Bharti, TVS Motors),” said strategist at Jeferries led by Mahesh Nandurkar.