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MOSL: Morning India (16/July/19): 1. India Strategy (Contrarian Investing – Quarterly Update); 2. ICICI Prudential Life Insurance; 3. EcoScope (a. India’s Quarterly Economic Outlook; b. Trade deficit update); 4

MOrning India (16/July/19): 1. India Strategy (Contrarian Investing – Quarterly Update); 2. ICICI Prudential Life Insurance; 3. EcoScope (a. India’s Quarterly Economic Outlook; b. Trade deficit update); 4. Metal Weekly

 

Today’s top research theme

India Strategy: Contrarian Investing – Quarterly Update; A review of our contrarian investment strategies

Our thematic strategy note on Contrarian investing, published in June'17 gives a detailed account of the subject matter. In this note, we have reviewed the performance of our strategies in 1QFY20:

• Most popular stocks performed the best beating the benchmark. On the other hand, 'neutral to moderately popular' stocks came in third.
• High P/E stocks performed the best beating the benchmark. On the other hand, low P/E stocks came in second.
• Low PCF stocks performed the best beating the benchmark. On the other hand, high PCF stocks came in third.
• Contrarian BUYs: Bank of Baroda, Siemens, NTPC, NMDC and ITC
• Contrarian SELLs: Asian Paints, Havells, Britannia, Shree Cement and Cipla.

 

Piping hot news

Exports contract 9.71% in June; trade deficit narrows to $15.28 b

India’s exports contracted 9.71 per cent in June 2019 (year-on-year) to $25.01 billion, the first fall this fiscal, as outbound shipments of major items such as petroleum products, gems & jewellery, readymade garments, engineering goods and cotton yarn fabric took a hit. Imports declined 9.06 per cent during the month to $40.29 billion, which resulted in trade deficit shrinking 7.98 per cent to $15.28 billion, as per figures released by the Commerce Department on Monday.