Stay Away! Nuvama lists 5 stocks likely to underperform in 2023

Nuvama believes peaking rates amid deepening downgrades could weigh on lofty Indian equities’ valuations in 2023, however, strong balance sheets and potential rate cuts in H2CY23 should limit dislocations. It expects 2023 to be another year of flat returns with volatility and defensives/largecaps outperforming. Amid this backdrop, the brokerage has come out with 5 stocks that are likely to underperform. Let's take a look:

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Stay Away! Nuvama lists 5 stocks likely to underperform in 2023

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