Nifty PSU Bank is in fact on the verge of a 13-year breakout to touch fresh lifetime highs on the back of good system-wide credit growth, stable asset quality, and attractive valuations. In between, Nifty Bank, which is dominated by HDFC Bank and ICICI Bank, is flat while the bluechip index Nifty has gained just 2.5%.
A study of 20-year data dissecting the performance of Dalal Street s biggest multibaggers shows that most stocks that compounded by a minimum of 25% during the period hail from traditional manufacturing companies like capital goods, engineering, commodities, consumption, etc.
There s a McKenna in every investor in the market. Only the gold changes to stocks that deliver a 100 percent return. But it s not easy to find the 100-baggers. An ICICI Securities study of all 100-baggers in last 20 years shows some common characteristics
Amid solid buying by domestic institutional and retail investors, India has become one of the best performing global markets in September by rallying around 4.2%.
"Stocks that are likely to improve their RoEs over FY23 to FY25 and transition into value-creation zone include capital intensive and cyclical sectors such as auto, capital goods, infrastructure, utilities, telecom, commodities and financials," said Vinod Karki, equity strategist, ICICI Securities in a report.