New Delhi: International brokerage firm CLSA has exuded confidence in 54 stocks which would gain in case of Narendra Modi-led BJP government scores a resounding victory in the Lok Sabha Election 2024. The brokerage company termed the counters as ‘Modi stocks’.
The ‘Modi stocks’ include shares of public sector undertakings (PSUs), infrastructure companies and shares of Reliance Industries, Bharti Airtel, Mahanagar Gas, Ultratech Cement, Ashok Leyland and others
CLSA said that out of the mentioned stocks, the brokerage firm said 90 per cent of them have outperformed the benchmark Nifty 50 index in the past six months.
“The last six months have seen a clear basket trade…. In our opinion, election-linked expectations build-up started about six months ago with a strong state election result for the ruling party in early-December,” CLSA said.
Stock Name
6 Month return
Hindustan Aeronautics Ltd
119.4 per cent
Hindustan Copper Ltd
112.6 per cent
National Aluminium Co Ltd
111.1 per cent
Bharat Electronics Ltd
108.8 per cent
Cummins India Ltd
103.1 per cent
Siemens Ltd
98.5 per cent
ABB India Ltd
97.9 per cent
Indus Towers Ltd
85.2 per cent
Steel Authority of India Ltd
82.7 per cent
Bharat Heavy Electricals Ltd
80.9 per cent
Dixon Technologies India Ltd
71.6 per cent
Adani Ports & Special Economic Zone
71.3 per cent
REC Ltd
68.9 per cent
Punjab National Bank
63.7 per cent
Tata Power Co Ltd/The
63.1 per cent
Hindustan Petroleum Corp Ltd
62.7 per cent
GAIL India Ltd
60.8 per cent
Jindal Steel & Power Ltd
58.4 per cent
InterGlobe Aviation Ltd
58.1 per cent
Indian Railway Catering & Tourism
57.2 per cent
Power Finance Corp Ltd
56.4 per cent
Indian Oil Corp Ltd
55.6 per cent
Bharat Petroleum Corp Ltd
53.1 per cent
Petronet LNG Ltd
51.5 per cent
Power Grid Corp of India Ltd
50.7per cent
State Bank of India
46.6per cent
GMR Airports Infrastructure Ltd
46.3per cent
NMDC Ltd
45.5per cent
Canara Bank
45.3per cent
Ambuja Cements Ltd
45.2per cent
Oil & Natural Gas Corp Ltd
44.6per cent
Coal India Ltd
44.4per cent
Container Corp Of India Ltd
43.6per cent
NTPC Ltd
43.1per cent
Bharat Forge Ltd
41per cent
Bharti Airtel Ltd
39.1per cent
Indian Hotels Co Ltd
38.3per cent
ACC Ltd
38.1per cent
Adani Enterprises Ltd
37.2per cent
Bank of Baroda
37.1per cent
Polycab India Ltd
32.5per cent
Gujarat Gas Ltd
27.9per cent
Mahanagar Gas Ltd
26.3per cent
Ashok Leyland Ltd
24.9per cent
Reliance Industries Ltd
22.2per cent
Larsen & Toubro Ltd
18.4per cent
Indraprastha Gas Ltd
18.2per cent
UltraTech Cement Ltd
17.1per cent
Vodafone Idea Ltd
14per cent
JK Cement Ltd
12.6per cent
Shree Cement Ltd
-2.6per cent
India Cements Ltd/The
-8.4per cent
Dalmia Bharat Ltd
-17.9per cent
Ramco Cements Ltd/The
-22.6per cent
Commenting on the ‘Modi Stocks’, the brokerage firm stated that analysts with CLSA have identified 54 stocks and only five of the mentioned stocks have underperformed over the past six months, which means around 90 per cent of the Modi stocks have outperformed Nifty over the past six months.
The firm further said that the performance of the ‘Modi Stocks’ indicates high expectations of a favourable election verdict for the BJP being “baked-into market expectations”.
A victory of BJP in the Lok Sabha Election would raise investor confidence in India’s economic growth and may also boost investors’ confidence “to play this growth beyond Modi stocks, which are direct policy plays.”
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International brokerage firm CLSA has identified 54 stocks which it has termed as ‘Modi Stocks’, The firm said it expects these 54 shares of companies to rise further in case of BJP’s resounding victory in Lok Sabha Election 2204. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
