Sharad Avasthi On Silver Volatility And Investment Opportunities In NBFCs For 2026

Sharad Avasthi, Head of Research (PCG) at SMIFS, discussed the outlook for NBFC stocks and silver in the current market. He highlighted Sriram Group's strong pedigree and governance, positioning it for strong growth, especially with expectations of a strong commercial vehicle (CV) cycle. While the stock is expected to perform well in the long term, Avasthi advises against fresh entries at this stage, suggesting holding existing positions for potential targets around ₹1,100. Regarding silver, he noted the ongoing volatility, emphasizing that institutional players are taking short positions to capitalize on the popularity of silver among retail investors. Avasthi prefers Hindustan Zinc over silver, citing the company's reliance on silver profits but also expressing concerns about its current valuation. On MCX, he cautioned against buying at high valuations, given the volatility in commodity markets.