‘Through-The-Cycle’ 100-Baggers – Old School Manufacturing Companies Dominate: ICICI Securities

ICICI Securities Report

Over the past 20 years, India’s ‘investment rate’, real estate and corporate profits have been through the niches and recesses of economic cycles – one full upcycle (2003–2010), followed by a full down cycle (2011–2020) and the emergence of the most recent upcycle post-FY21.

In this context, the journey through economic cycles throws up medium-term tailwinds/headwinds for stocks.

Consequently, the longevity of a business model and the growth durability are put to test when a company weathers a full economic cycle.

Given the backdrop, it is an opportune time to evaluate stocks that have been able to persevere and preserve value while battling economic downturns and being able to reap the full benefits of economic upcycles.

We reckon, traditional manufacturing and a few service companies form the bulk of the 100-baggers, sporting more than 25% compound annual growth rate stock price appreciation (excluding dividends) for the 20-year period.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.