Muthoot Finance, Bajaj Finance, State Bank of India, One 97 Communications Ltd (Paytm), Polycab India, and Eicher Motors are among 18 stock ideas from the top 200 listed companies, identified by ICICI Securities from a momentum investing perspective. Other names include SAIL, HPCL, TVS Motor, Mahindra & Mahindra, UltraTech Cement, and NMDC. Advertisement

Momentum investing, ICICI Securities explained, is based on the principle that stocks which have outperformed over the past six to twelve months and are approaching their 52-week highs, often driven by earnings upgrades, are likely to continue their positive trend over the next one to twelve months.

ICICI Securities said its back tests for 2022, 2023, and 2024, excluding Covid-related volatility of 2020–21, indicated that portfolios of

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