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k, ICICI Bank attractive for long-term investment after underperformance: Expert Nischal Maheshwari

Metals rally may extend in short term Metal stocks, which have rallied sharply over the past quarter, could see further upside in the short term, though Maheshwari urged caution. “Metals have been on a tearing rally for the last one quarter and at least in the short term this will continue,” he said. However, he flagged uncertainty around demand. “We have to see whether it is backed by ground demand or more money chasing assets,” Maheshwari said, noting that China’s manufacturing recovery remains uneven. Real estate demand intact despite valuations Despite weaker earnings from Sobha, Maheshwari said real estate demand remains strong across major cities. “Order booking and deliveries have been very strong in Mumbai, Bengaluru and Delhi,” he said, adding that stock corrections reflect stretched valuations rather than weakening fundamentals. Banking, metals, NBFCs seen leading in 2026 Looking ahead, Maheshwari said banking remains a key focus. “In the first one or two quarters, it should be PSU banks, and then larger private sector banks will catch up,” he said. He also expects metals to “surprise everybody on the upside” and sees a broader recovery across NBFCs as borrowing costs decline and credit quality remains benign.