Reliance Industries, HDFC Bank, Dr Reddy's Lab In Barclays'Global Stock Picks


MUMBAI: Reliance Industries Ltd (RIL), HDFC Bank and Dr Reddy’s Laboratories are the only three Indian firms to figure in Barclays’ top 111 stock picks from across the world for 2015.

In its ‘Global Top Picks’ report, Barclays has said more than six years into the recovery, the key drivers of the market rally u2013 low inflation, moderate growth and unprecedented monetary support u2013 are set to have a reduced impetus.

“We are entering the next phase of the business cycle where valuations in equities and fixed income are relatively expensive and evidence is accumulating that the recovery is becoming self-sustaining, suggesting that monetary policy will be less supportive going forward,” it said.

RIL was the only stock pick in energy segment in Asia, while HDFC Bank is featured with China Taiping and China Resources Land in the Financial Services sector. Dr Reddy’s Laboratories also is the only stock pick in healthcare segment in Asia.

On RIL, it said it expects earnings to grow 47 per cent over 2015-18 even if oil prices remain low and volatile, helped by the completion of USD 16 billion in downstream projects that are all slated to come online over the next 6-15 months.

“We believe this provides one of the strongest growth outlooks among the global energy stocks Barclays covers,” it said.

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