Top-100 Stocks – Evaluating The ‘Popularity’ Quotient: Motilal Oswal Analysis

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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