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Investors flock to companies with visible earnings prospects

Some lesser-known stocks have recovered between 50 -100 per cent from their yearly lows.

, ET Bureau|
Updated: Oct 21, 2019, 08.56 AM IST
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The stock market outlook remains uncertain due to the economic slowdown and elusive corporate earnings revival but that has not stopped investors from lapping up select stocks. As many as 100 stocks on the BSE 500 index have rallied between 50 per cent and 200 per cent from their 52-week lows in the last many months. Stocks like Nippon Life Asset Management, InterGlobe Aviation, Manappuram Finance, Bajaj Finance, Bata India, HDFC Asset Management among others have doubled from their 52-week lows. Investors and traders are betting on them as their earnings growth is expected to remain resilient in this downturn. Some lesser-known mid- and small-cap stocks, too, have recovered between 50 per cent and 100 per cent from their yearly lows because of strength in earnings. For instance, Brigade Enterprises and MAS Financial Services have recovered 80 per cent each from their 52-week lows as they reported over 40 per cent growth in operating profits in the last 12 months. ET has compiled 20 such companies, which as per Bloomberg consensus estimates can potentially gain as much as 70 per cent return over the next one year.

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