market: After a lacklustre 2023, will 2024 be a year of mega-caps?

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Similarly, HDFC Bank has one of the best credit underwriting matrices in the system and consistently gained market share over a long period. The stock is trading at 2.2 times of its book value compared with the long-term average of 3.7.

Synopsis

Mega stocks such as HDFC Bank, Reliance Industries, ICICI Bank, Infosys, TCS, Axis Bank and Kotak Mahindra Bank, which collectively account for 48% of the total Nifty 50 weightage, have given return of 9.58% in 2023 compared with the Nifty 50’s return of 20%.

ET Intelligence Group: After a lacklustre performance in 2023, the index heavyweights of the Nifty 50 index could be back in the spotlight, thanks to investors seeking a margin of safety as little value appears to be left in the market, both in terms of top-down and bottom-up outlook.Mega stocks such as HDFC Bank, Reliance Industries, ICICI Bank, Infosys, TCS, Axis Bank and Kotak Mahindra Bank, which collectively account for 48% of the total

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ET Bureau

3 mins read, Last Updated:

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