SBI, ICICI Bank and Ashok Leyland are Motilal Oswal's top picks for 2021 as Budget 2021 likely to target growth and more
Motilal Oswal says while Liquidity and rates remain supportive; earnings are revived. Despite the COVID-related challenges, the Nifty has ended CY20 with a 15% return. A 80% reduction in active COVID-19 cases since Sep’20; strong corporate earnings in Sep’20, which resulted in upgrades; and faster than anticipated economic and demand recovery, along with a supportive liquidity and interest rate backdrop, have provided the necessary triggers. Economic indicators continue to turn positive which could start the next upgrade cycle and liquidity flows across Emerging Markets could remain strong which bodes well for Indian markets.
Motilal Oswal picked SBI from PSU Banking space, ICICI Bank from private Banking space and Ashok Leyland from auto sector as their top picks for 2021: Reuters