These 5 largecap stocks make it to brokerages’ shopping list for 2023

Despite witnessing relentless selling by foreign institutional investors, the marathon run by Indian equities in 2022 left a lasting impression.

India was the best performing market compared to the emerging and developed market peers.

Nearly half of the stocks that are part of the Nifty 50 gave index-beating returns this year. At least 26 smallcap stocks turned multibaggers even though the broader market underperformed.

A showstopper performance by domestic equities was possible primarily due to the strong growth in the domestic economy.

Given that the macroeconomic factors remain conducive in India and corporate earnings growth have improved, most brokerages are betting on automobile, banks, industrials, capital goods and engineering, consumer staples, real estate, and telecom sectors in 2023.

Axis Bank, ICICI Bank, State Bank of India, Larsen & Toubro, and Maruti Suzuki India are the five stocks that most analysts have recommended for 2023.

Most of the analysts are bearish on export-oriented sectors as growth uncertainties globally persist.

Here’s a summary of the stock recommendations by brokerages for 2023:

Motilal Oswal Broking and Distribution
Axis Bank, State Bank of India, Larsen & Toubro, ITC, Maruti Suzuki India, UltraTech Cement, Titan Co, PI Industries, Macrotech Developers, Indian Hotels, Bharat Forge, Westlife Development, Infosys and Apollo Hospitals Enterprise.

HDFC Securities
SBI, ACC, Bharat Forge, Chennai Petroleum Corp, Indian Oil Corp, Larsen & Toubro, PNC Infratech, Power Finance Corp, Rashtriya Chemicals & Fertilisers, and Zensar Technologies.

JM Financial Institutional Securities
ICICI Bank, SBI, Bajaj Finance, Axis Bank, Maruti Suzuki, Hindalco Industries, UPL, Patanjali Foods, M&M Financial, Akzo Nobel, Sapphire Foods, Arvind Fashion, Ujjivan Financial Services, Gokaldas Exports.

Religare Broking
Maruti Suzuki India, Voltas, Exide Industries, V-Guard Industries, Birlasoft.

Morgan Stanley
FSN E-Commerce, Maruti Suzuki, Titan Co, ICICI Bank, SBI Cards, SBI Life Insurance, Hindustan Aeronautics, UltraTech Cement, and Infosys.

Nomura Financial Advisory and Securities
SBI, Axis Bank, Larsen & Toubro, Hindustan Unilever, Reliance Industries, KEC International, Zydus Lifesciences, Medplus Health Services, Indraprastha Gas, and Sansera Engineering.

Credit Suisse
SBI, Bank of Baroda, IndusInd Bank, ICICI Bank, L&T, HUL, and UltraTech Cement.

BNP Paribas
Reliance Industries, Bharti Airtel, Maruti Suzuki India, Mahindra & Mahindra, Havells India, Sun Pharmaceutical Industries, Fortis Healthcare, HDFC Bank, ICICI Bank, Axis Bank, SBI Life Insurance, and Tata Consultancy Services.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)