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This Article is From Sep 25, 2023

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

Economic cycles, investor behavior provide massive tailwinds, headwinds for stocks in medium term; investors may get carried away.

‘Through-The-Cycle’ 100-Baggers – Old School Manufacturing Companies Dominate: ICICI Securities
(Source: freepik)
STOCKS IN THIS STORY
Zydus Wellness Ltd.
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Genus Power Infrastructures Ltd.
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Somany Ceramics Ltd.
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Manappuram Finance Ltd.
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Greenply Industries Ltd.
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Timken India Ltd.
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Larsen & Toubro Ltd.
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Siemens Energy India Ltd
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Kalpataru Projects International Ltd.
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Britannia Industries Ltd.
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Bata India Ltd.
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Berger Paints India Ltd.
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Ajanta Pharma Ltd.
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Carborundum Universal Ltd.
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Shree Digvijay Cement Company Ltd.
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Honeywell Automation India Ltd.
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PI Industries Ltd.
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Godrej Consumer Products Ltd.
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United Breweries Ltd.
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Atul Auto Ltd.
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Coromandel International Ltd.
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KEI Industries Ltd.
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Sundaram Finance Ltd.
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Deepak Nitrite Ltd.
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Trent Ltd.
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Balkrishna Industries Ltd.
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Supreme Industries Ltd.
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Titan Company Ltd.
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Linde India Ltd.
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Phoenix Mills Ltd.
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Divis Laboratories Ltd.
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Marico Ltd.
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United Spirits Ltd.
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Voltas Ltd.
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Cholamandalam Investment & Finance Company Ltd.
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Havells India Ltd.
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Tata Motors Ltd
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UPL Ltd.
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Pidilite Industries Ltd.
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Hatsun Agro Products Ltd.
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Kotak Mahindra Bank Ltd.
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Relaxo Footwears Ltd.
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Bajaj Housing Finance Ltd
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CRISIL Ltd.
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Kajaria Ceramics Ltd.
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Grindwell Norton Ltd.
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Emami Realty Ltd.
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Asian Paints Ltd.
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Navin Fluorine International Ltd.
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BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay

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:

ICICI Securities Strategy_iLens Through The Cycle 100 Baggers.pdf
VIEW DOCUMENT

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.

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