Top-100 Stocks – Evaluating The ‘Popularity’ Quotient: Motilal Oswal Analysis
Analyst sentiment, which is measured by the proportion of Buy/Hold/Sell ratings, has not changed much over the past year.
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Motilal Oswal Report
As a part of our continued effort to provide a broad and informative perspective of the market, we, in this report, will pore over the Top-100 stocks by market capitalisation taking consensus data sourced from Bloomberg.
The basic criterion of our study is that a minimum of 10 analysts should cover each stock. We will try to uncover:
which stocks are the most favored on the street and how they have performed over the last one year, and
what is the possible target price upside for the said universe, both at sector and stock levels. Notably, the Top-100 pack constitutes 68% of India's market capitalisation.
Analyst sentiment, which is measured by the proportion of Buy/Hold/Sell ratings, has not changed much over the past year with the percentage of Buy ratings moderating to 71% from 73% a year ago. Further, the percentage of Hold and Sell ratings stood at 17%/12% versus 16%/ 11%, a year ago.
Sentiments on capital goods, private banks, healthcare, real estate, and pubic sector undertaking banks have been positive with their coverages improving 11%, 8%, 6%, 5% and 4% YoY, respectively. Conversely, metals, utilities, non-banking financial companies (due to a drop in coverage of Housing Development Finance Corporation Ltd.), telecom and automobiles have taken a hit, with their coverages dropping 10%, 10%, 7%, 5% and 4% YoY, respectively.
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