India Strategy - Exploring ‘Buy’ Opportunities Across The Sentiment Spectrum Of Mr. Market: ICICI Securities
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ICICI Securities Report
Long-term growth prospects as ‘perceived’ by the collective wisdom of investors (allegorised as Mr. Market) are embedded in stock prices which leads to major fluctuations in stock prices whenever those perceptions change.
Change in perception regarding long-term prospects due to short term events provides maximum opportunities in investing (examples – March 2020 market wide sell off; Titan in 2015-16; currently the second wave of Covid-19).
Using our proprietary market implied long term growth value framework on the NSE200 universe stocks, we classify fundamentally sound investible stocks with upsides (Buy rating by our analysts) into segments based on Mr. Market’s various degrees of pessimism/optimism.
Given the focus on long term growth which depends on sustainability of growth, we have preferred stocks with relatively lower environmental social and governance risk or the riskier ones showing improvement in their score.
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