Infosys, SBI, ITC, L&T among Motilal Oswal's top picks for 2023

Motilal Oswal Financial Services

28/12/2022 08:37

** Brokerage firm Motilal Oswal said in a note that Infosys
 INFY.NS , State bank of India  SBI.NS , ITC Ltd  ITC.NS  and
Larsen & Toubro  LART.NS  are its top picks for the upcoming
year of 2023
    ** Over FY22-24, accelerated government spending and private
investment revival are expected to drive earnings growth of
Nifty 50 companies by 17% annually, on average, says Motilal
Oswal
    ** For 2023, the brokerage firm expects credit growth and
capital expenditures to be the two critical themes
    ** Banking, financial services and insurance (BFSI), capital
goods, infrastructure, cement, housing, defence, and railways
are likely to be the sectors in focus
    ** China+1 and Europe+1 strategies to lead to export
benefits for India 
    ** Recessionary fears, geopolitical risks, and COVID-19
outbreaks in China factors could lead to volatility in markets
in 2023
    ** Outside the benchmark, the brokerage firm expects PI
Industries, Macrotech Developers, Indian Hotels, Bharat Forge,
and Westlife Foodworks to do well
 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))