Motilal Oswal - MOSL: Morning India (4/May/17)-1. Bulls Bear; 2. EcoScope; 3. Financials; 4. ICICI Bank; 5. Marico; 6. Ajanta Pharma; 7. Dewan Hsg.

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Motilal Oswal

Team Research

MOSL: Morning India (4/May/17)-1. Bulls & Bear; 2. EcoScope; 3. Financials; 4. ICICI Bank; 5. Marico; 6. Ajanta Pharma; 7. Dewan Hsg.

â€‹MOrning India (4/May/17): 1. Bulls & Bear; 2. EcoScope; 3. Financials; 4. ICICI Bank; 5. Marico; 6. Ajanta Pharma; 7. Dewan Hsg.; 8. Shriram City Union; 9. Motilal Oswal Business Insights Day

Todayâ€™s top research theme

Bulls & Bears: Markets consolidate gains; Cyclicals outshine Defensives

â€‹After delivering 19% returns in FY17, the Nifty made a good start to FY18 with 1.4% gains in April-2017. Indian currency has also rallied 5.4% in the first four months of CY17, bolstering dollar index returns. However, at 22.5x trailing 12 months and 19x FY18E P/E, valuations do not offer much comfort unless accompanied by an earnings surprise, in our view.
Barring Healthcare, Technology, Oil & Gas and Utilities, all other sectors trade at a premium to their respective LPA. Cement is now trading at a premium of 53% and 41% on P/E and P/B basis v/s LPA. In this edition of â€˜Bulls & Bearsâ€™, we take a deep dive into valuation metrics of the Oil & Gas sector.
Indiaâ€™s share in world market cap inches above historical average. Over last 12 months, world market cap has increased 14.4% (USD9.2t); Indiaâ€™s market cap has increased 34%.

04/05/2017 42 EN

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Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

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MOSL: Morning India (4/May/17)-1. Bulls & Bear; 2. EcoScope; 3. Financials; 4. ICICI Bank; 5. Marico; 6. Ajanta Pharma; 7. Dewan Hsg.

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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