DLF To Fortis, Jefferies Lists Its Top Bottom-Fishing Picks Amid Volatility

Jefferies has listed its top bottom-fishing stock picks as a spike in market volatility prompts investors to change strategies.

Rishabh Bhatnagar @Rish_Bhat

21 Jun 2022, 10:13 AM IST

<div class="paragraphs"><p>Stock movement. (Photo by <a href="https://unsplash.com/@nampoh?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Maxim Hopman</a> on <a href="https://unsplash.com/s/photos/stock?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>)</p></div>

Stock movement. (Photo by Maxim Hopman on Unsplash)

Jefferies has listed its top bottom-fishing stock picks as a spike in market volatility prompts investors to change strategies.

The Nifty 50 has dropped nearly 20% from its high in October last year and is now around the 10-year average, with several stocks down by much more, the financial services provider said in a June 20 report.

“We scan our coverage for stocks down over 25% from 52-week highs and in which analysts have conviction,” it said. These stocks also offer median 29% earnings CAGR in FY22-24 and 15% median FY24 return on equity.

The bottom-fishing stock picks are:

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