Stocks To Buy: 11 Largecap Stock Picks As Recommended by Motilal Oswal

Motilal Oswal Financial Services has come-out with its latest India Strategy Report. The firm has listed several laregecap and midcap stocks to buy in its report. Here are 11 largecap stock picks that are preferred by the brokerage firm and mentioned in its latest report.

List of stocks to buy

According to Motilal Oswal Financial Services its preferred stocks from the large cap space include names like ICICI Bank, IndusInd Bank, SBI, Infosys, ITC and Maruti Suzuki. Other stocks where it has a buy from the largecap space include names like Titan Company, Ultratech Cement, Apollo Hospitals, Bharti Airtel, and L&T.

We maintain our overweight stance on BFSI, AUTO, Consumer & IT and underweight stance on Energy, Pharma and Utilities. In Financials, we are further raising our weights in ICICI Bank and IndusInd Bank while we reintroduce Federal Bank. IndusInd's business growth is likely to accelerate as key businesses, viz. Vehicle and MFI, undergo recovery," the brokerage has said.

ITC: overweight stance by Motilal Oswal on the stock

In the consumption space, Motilal Oswal has maintained its overweight stance and further raise weights in ITC and add Metro Brands while keeping weights intact in HUL, Titan, Jubilant Foodworks and GCPL. "Metro offers a long runway for growth and has demonstrated ability to run an efficient footwear 'Retail' network," the brokerage has said.

Interestingly, the stock of ITC has rallied significantly in the last 1-year and has been an outperformer.

Indian markets have outperformed

According to Motilal Oswal Financial Services, India's outperformance is driven by several key factors such as: a) strong corporate earnings growth over the last two years (Nifty profits up 70% during FY20-22) and expectations of a healthy performance over FY22-24; b) resilient domestic equities inflow (YTD DII equity inflow of USD 29b) and c) deft macroeconomic management by the RBI and the government that has helped India stand out in an otherwise volatile and panic-stricken world.