23 Dec 2020, 11:30:02 AM IST

ICICI Securities on markets

“Indian equities have entered a bull market environment as evidenced by the one year rolled forward P/E at 22x rising beyond the peak of FY08 at ~20x on an ‘ex-ante basis’ and significant broadening of the market rally by market cap size and various investment styles (Dividend yield, PSUs, High Beta, Small caps etc),” says ICICI Securities.

The brokerage firm’s top picks for 2021 are – SBI Life, ICICI Lombard, Axis Bank, HDFC Bank, NTPC, Cipla, Bharti Airtel, Ultratech, Infosys, Dabur, Bajaj Auto; in the midcap space – GGL, Balkrishna, Alkem, Astral Polytechnik, Akzo Nobel; and among smallcaps – Greenpanel, Heritage foods, and Bajaj Consumer.