Multibagger Stock: Nifty closed with strength in September for the fifth consecutive month. Among the sectors, media, real estate, oil and gas, telecom and utilities were the top performers during the month, while metal was the only sector to lag behind. Stocks like Coal India, NTPC, ONGC, Tata Motors were the top gainers. While on the other hand, Tata Steel, BPCL, Tata Consumer, UltraTech were behind.
Apart from this, midcaps and smallcaps have outperformed largecaps in the last 12 months. Midcap has gained 79% as compared to 57% growth for Nifty. Recommending Motilal Oswal as its top pick, Motilal Oswal in the midcap includes Max Financial, Steel Authority of India (SAIL), Deepak Nitrite, L&T Technology, APL Apollo Tubes, Chola Finance, JK Cements, Indian Hotels, Orient Electric, Aditya Birla Fashion , Retail (ABFRL) incorporated.
The brokerage said in a note, “Markets are rallying and how! A section of the market has taken off and is now offering good discounts on future earnings. Liquidity, declining COVID-19 cases, upbeat corporate comments and low cost of capital have raised the valuation multiples to stratospheric levels for many high quality names.”
In Motilal Oswal’s view, rising energy and commodity prices, disruptions in global supply chains and speculation around US Fed taper and sometime normalization of interest rate environment in CY22 could lead to volatility in the market . In September, major global markets such as Japan (+5%), India (+3%), Indonesia (+2%), Russia (+1%), and China (+1%) edged higher in local currency terms closed. However, Brazil (-7%), US (-5%), MSCI EM (-4%), Korea, Taiwan and UK registered a decline. In the last 12 months, MSCI India (+53%) has outperformed MSCI EM (+16%). In the last 10 years also, MSCI India has outperformed MSCI EM by 175%.
Under largecap, the top picks of the brokerage firm include ICICI Bank, SBI, Infosys, HCL Technologies, UltraTech, HUVR, Titan, Divi’s Labs, Hindalco and SBI Life.
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