India could have its first stock with a market of $1 trillion by 2032, according to ICICI Securities, and there are three contenders: HDFC Bank Ltd., Reliance Industries Ltd. and Bajaj Finance Ltd.The first company to breach the market cap of $1 trillion would be on the back of peak corporate profitability of 7% and gradual advancement towards peak GDP growth of 9%.Other key assumptions, according to the brokerage firm, include the “ratio of the largest stock’s market cap to aggregate market cap sustaining at a long-term average of 5-6% and no re-rating in P/E ratios from current levels.”.ICICI Securities, in its note issued on Jan. 13, also said that 30–40 stocks with a $100…
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Three Likely Contenders As India May Get First $1 Trillion Stock By 2032: ICICI Securities
