Stars Aligning For A Bull Market – Stock Picking To Get Challenging As All Boats May Rise: ICICI Securities

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.We expect favorable cyclical factors to accelerate in CY24 driven by capex-cycle firing on all cylinders (reflected in Q2 FY24 GDP print), thereby triggering the corporate re-leveraging cycle. Listed corporate profit is expected to approach ~5% profit after tax of GDP with return on equity moving into value-creating zone of more than 15%. In CY24, uncertainties related to-general election outcome and further interest rate hikes would largely be over with no major shocks likely as per the trends so far. Ironically, foreign portfolio investment holdings of Indian stocks are at a decadal low but showing signs of a reversal while domestic institutional investor inflows continue. As we enter a classic bull market, we emphasise risk management and are guided by the principle – a rising tide lifts all boats. As the undiversifiable market risk lifts all boats during the approaching bull market, the real skill would be to focus analytical efforts towards finding ‘what not to buy’..Nifty50 target for CY24-end stands at 23,200; our top picksLarge caps – L&T, Bharti Airtel, Coal India, ONGC, M&M, Indigo, HDFC Bank, IndusInd Bank, SBI Midand small caps - HPCL, CIE Automotive, InfoEdge, PVR Inox, Greenpanel, Astra Microwave, Jubilant Foodworks, Jyothy Labs..Click on the attachment to read the full report:.Indian Exchanges - Strong, Steady Volume Trends In Exchanges On Higher Base: ICICI Securities.DISCLAIMERThis 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.

Stars Aligning For A Bull Market – Stock Picking To Get Challenging As All Boats May Rise: ICICI Securities

Nifty50 target for CY24-end stands at 23,200

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