Modi’s protectionism push creates stock winners in laggard India

India's protectionist trade policy is creating stock winners in a sector that had trailed the broader market for years. The government's push for domestic manufacturing through tariff barriers is reshaping which companies attract capital, the ETMarkets report said.

The stocks identified as beneficiaries include HDFC Bank Ltd, Infosys Ltd, Wipro Ltd, State Bank of India, Axis Bank Ltd and NTPC Ltd. The list spans financial services and technology.

HDFC Bank (HDB stock page), with an Alpha Score of 38, sits in a Mixed rating. Infosys (INFY stock page) carries a 57, rated Moderate. Wipro (WIT stock page) scored 46, also Mixed. The scores show an uneven shift. Capital is rotating into domestic-focused plays.