Motilal Oswal - MOSL: Morning India (4/April/17)-1. EcoScope; 2. Bulls Bears; 3. Telecom; 4. Auto volumes

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Motilal Oswal

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MOSL: Morning India (4/April/17)-1. EcoScope; 2. Bulls & Bears; 3. Telecom; 4. Auto volumes

â€‹MOrning India (4/April/17): 1. EcoScope; 2. Bulls & Bears; 3. Telecom; 4. Auto volumes

Todayâ€™s top research idea

Bulls & Bears: Markets end FY17 on high note; Valuations at modest premium to averages

-After declining 9% in FY16, the Nifty delivered 19% returns in FY17. Over last 24 months, the index has come back full circle, crossing 9K after first touching that level in March 2015. At 22.5x trailing 12 months and 18.1x FY18E P/E, we believe valuations do not leave much room for upside, unless accompanied by an earnings recovery.

-Sectoral performance trends saw reversals in FY17 v/s FY16; In FY17, Metals (+57%), PSU Banks (+54%), Media (+54%), Oil (+48%) and NBFC (+41%) were the top outperformers. Technology (-9%) and Telecom (-6%) were the only sectors with negative returns in FY17. Interestingly, Metals, PSU Banks and NBFC were among the worst performers in FY16.

04/04/2017 28 EN

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Motilal Oswal

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MOSL: Morning India (4/April/17)-1. EcoScope; 2. Bulls & Bears; 3. Telecom; 4. Auto volumes

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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