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 Direct Report
After a correction in Q1 FY23 amid global uncertainty, domestic markets witnessed an outperformance compared to global peers on the back of sustained and strong economic parameters.
The banking sector has outperformed (the Bank Nifty gained ~22% whereas the Nifty was up 12% from June 2022) as the earnings outlook has improved due to anticipation of improvement in business growth, lower credit cost and bottoming of non-performing asset.
Public sector undertaking banks, which remained laggards in the last several fiscals, have seen a relatively higher revival (PSU Nifty gained ~32% from June 2022) on the back of a better show on growth as well as asset quality; reversal of treasury losses reported in Q1 FY23 remains a near term catalyst.
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