Volatility gripped Indian equities amid a rise in the number of coronavirus cases in the country and a moratorium on struggling Yes Bank Ltd.
The Nifty 50 and the Sensex have tumbled more than 10 percent over the last 10 days, joining the worst global selloff since 2008. That started with the virus spread outside China—it's killed 3,386 people and infected 98,512 globally. India alone reported 39 cases. The Reserve Bank of India's move to supersede the board of Yes Bank and cap withdrawals only added to the volatility.
Select stocks, however, were able to counter the turmoil showing low beta—a measure of volatility compared with the Sensex. A stock is less volatile if beta is less than 1, while a beta greater than 1 indicates it's more volatile than the market. BloombergQuint analysed a list of 10 stocks that are not only less volatile, but also offer decent upside from current levels at low risk.
Selection criteria:
- BSE 500 stocks
- Tracked by at least five analysts
- Low beta highlights low volatility
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