The Indian stock market is poised for a strong run towards FY26, supported by stable macros, robust earnings outlook and sector-specific tailwinds, market expert Deven Choksey said in an exclusive conversation with Anil Singhvi of Zee Business Manage Editor. Choksey, managing director of Dr. Choksey Finserv, outlined the key sectors and strategies investors should consider right now to take advantage of emerging upcycles.
Focused sectors
Choksy emphasized that global reconstruction activities after the destruction usually create great opportunities for emerging markets like India. He hoped to select the metals sector as key beneficiaries of this trend and witness a sharp rise in demand due to global reconstruction efforts. “Metals may be the first segment to experience stronger demand,” he said.
What is the margin?
With crude oil prices stable and controlling import inflation, India enjoys an optimal environment for industrial and manufacturing growth. According to Choxie, this will lead to reduced energy costs and controlled interest rates, increasing profitability for the company. “The margin factors in the industry in particular indicate positive emergence,” he noted.
FY26 revenue
Choxey predicted that company revenue growth could exceed 15% in fiscal 2025-26, supported by demand revival and margin stability. “Both demand and profitability are lined up, creating a strong foundation,” he said, adding that this will set a stage for increasing investor participation in stocks over the upcoming quarter.
Modifications are purchase opportunities. You need to maintain a long-term position
While acknowledging that the ratings have become a bit more expensive, Choxie was relieved that market modifications should be considered a purchase opportunity. “The short-term environment encourages stocks,” he added.
He also advised retail investors to maintain long-term bets, especially when they are exposed to new emerging sectors such as defense, real estate developers, clean energy, semiconductors and digital infrastructure. “Don’t get too much of an intervention in long-term investment positions,” he said, recommending that only 25-30% of the portfolio maintain liquids for exercise trading.
The main sectors where Deven Choksey is bullish:
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metal (By global reconstruction)
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defense (Strong policy support and global demand)
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Emerging sectors Like Beautiful technology, Real Estate Developerand semiconductor
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Banking and industry You can benefit from India’s domestic maintenance cycle (implicit context)
Choxie’s macro-driven yet focused view repeats India’s bullish stance as it enters a new revenue cycle with a stable foundation and a growth-promoting global environment.
