SBI, Hero MotoCorp, L&T, Coal India among top 14 picks of Motilal Oswal Broking for 2024
Hero MotoCorp, Spandana Sphoorty, Larsen & Toubro, Dalmia Bharat, Tata Consumer, Syrma, Coal India, Prestige, Zomato, L&T Technology Services (LTTS) , Oil India, Sun Pharmaceutical, Kajaria Ceramics stand among top 14 picks of Motilal Oswal Broking and Distribution for 2024. The Brokerage expects India market outperformance to continue during 2024 led by strong macro and micro fundamentals.
The valuations of the market despite recent run up remain reasonable and below 10 year average says Motilal Oswal Broking and Distribution Also Read- 2023 in review- Indian Hotels, EIH, Lemon tree share price gain up to 41.5% Investor’s sentiments has got a big boost in November and December which helped both domestic as well as global markets scale new high. Thus, the Domestic markets are ending the year 2023 on a buoyant note as Nifty scales above 21500 mark while Sensex crosses 71000.
India's macro and micro fundamentals remain strong, and are expected to maintain its outperformance in 2024 said Motilal Oswal Broking and Distribution The GDP growth during first half FY24 stood at 7.7% led by a robust print in manufacturing and investment sectors. This led to RBI revising its GDP forecast upwards to 7% for FY24.
The RBI has given robust growth projections for FY25 as well with growth averaging 6.5% in the first three quarters of the fiscal. Other high-frequency data points (GST collections, auto monthly numbers, power demand, PMI data) witnessed robust growth.
On the other hand, Motilal Oswal Broking and Distribution said that the First half FY24 corporate earnings ended on a buoyant note with Nifty companies delivering 30% YoY net profit growth. Thus Motilal Oswal Broking expect the Nifty EPS (earnings per share) CAGR (compound
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