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Best 8 large-cap stocks to accumulate in 2023 – Future Multibagger Share List

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Best 8 large-cap stocks to accumulate in 2023 - Future Multibagger Share List

 As the severe Covid lockdowns came to an end in 2022, economies and cultures began to loosen up. To combat the rising inflation, the central banks throughout the world made hawkish pronouncements and raised benchmark lending rates throughout the year. Due to issues like the Russia-Ukraine war, the world’s stock and commodities markets remained unstable throughout the year.

Since implementing its first boost in interest rates in March, the US Federal Reserve has raised rates by 375 basis points this year, raising concerns about a potential recession.

In an effort to fight inflation at home, The Reserve Bank of India (RBI) raised the repo rate five times in FY23.

The brokerage, however, expects foreign investors to continue injecting money into the market, therefore they forecast an increase in public issuances such as initial public offerings (IPOs), follow-on public offers (FPOs), and offers for sale (OFS). It believes that the developing markets will benefit from a more tolerant global environment than this year. India’s lagging outperformance, however, would slow down in H1CY23 due to relative values, the report said.

According to HDFC Securities, these are the top 8 large-cap stocks to gamble on in the coming year:

In the future, specialists and major institutions have issued warnings about a potential recession in 2023. “India, which exports around 20% of its output, would not do well if the world economy entered a slump. A further decline in global share prices might be a hindrance for Indian equities because of India’s high equity return correlations with the rest of the globe, according to HDFC Securities in a study outlining the view for 2023.

Axis Bank | CMP: ₹933.7 | Target: ₹1,195

Bharti Airtel | CMP: ₹835 | Target: ₹983

Infosys | CMP: ₹1,568.85 | Target: ₹1,790

L&T | CMP: ₹2,154.3 | Target: ₹2,345

Reliance Industries | CMP: ₹2,609.1 | Target: ₹2,708

State Bank of India | CMP: ₹616.45 | Target: ₹700

Tata Steel | CMP: ₹110.45 | Target: 128.8

Ultratech Cement | CMP: ₹7,085.9 | Target: ₹7,615

The current market price is as on December 9 closing.

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