December 7, 2023
Snapshot Top 10: Independent Boards in Growth Markets



The Top 10 performing stocks in the Independent Boards in Growth Markets are shown for seven different investment strategies. Whether you are looking for value, growth or dividend stocks, or you want stocks that rank well overall, you can see the top 10 stock picks, together with how they rank on a scale of 1 to 100 from the perspective of different investment strategies. We have also added our newest Sentiment and 360° View ranks, which encapsulate the market voices of analysts and professional investors into a simple ranking for easily evaluating stocks. As an objective research provider, Obermatt has been refining its stock analysis algorithms for more than 10 years (no AI used here!)

Select any stock for the detailed analysis of that stock's performance across the different investment analyses. Please note that the Top 10 stocks focus only on Large to XX-Large companies.


What the six ranks mean

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:

Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Special Analysis: TOP 10 Dividend Investment Strategy

Many people ask for tips about dividend stocks. These are the Top 10 dividend stocks in the Independent Boards in Growth Markets as of December 7, 2023.

TOP 10 Dividend Investment Strategy Value Strategy DIVIDEND Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Banco do Brasil (XXL, BR)  Diversified Banks
1. Banco do Brasil (XXL, BR)   Diversified Banks 100 100 58 63
2. Sasol (XXL, ZA)  Diversified Chemicals
2. Sasol (XXL, ZA)   Diversified Chemicals 100 100 68 73
3. Cielo (L, BR)  Data Processing & Outsourcing
3. Cielo (L, BR)   Data Processing & Outsourcing 100 98 75 59
4. Truworths International (L, ZA) ☀  Apparel Retail
4. Truworths International (L, ZA) ☀   Apparel Retail 99 71 74 70
5. Gudang Garam (XL, ID)  Tobacco
5. Gudang Garam (XL, ID)   Tobacco 99 99 98 86
6. KAP Industrial (L, ZA)  Industrial Conglomerates
6. KAP Industrial (L, ZA)   Industrial Conglomerates 98 98 67 45
7. Genting Malaysia (L, MY)  Casinos & Gaming
7. Genting Malaysia (L, MY)   Casinos & Gaming 98 86 71 94
8. Netcare (L, ZA)  Health Care Facilities
8. Netcare (L, ZA)   Health Care Facilities 98 92 34 43
9. SMU (L, CL)  Food Retail
9. SMU (L, CL)   Food Retail 97 87 38 60
10. AVI (L, ZA)  Packaged Foods & Meats
10. AVI (L, ZA)   Packaged Foods & Meats 96 52 74 82

☀ This company has a special achievement which is documented on its stock research page.

December 7, 2023. Top 10s are published weekly following the . ( or for more stocks)


Independent Boards Growth Markets Top 10: Obermatt 360° Investment Strategy

TOP 10 Obermatt 360° Investment Strategy 360° Strategy 360° VIEW Value Strategy VALUE Combined Strategy COMBINED Sentiment Strategy SENTIMENT
1. Petrobras Distribuidora (XXL, BR)   Automotive Retail
1. Petrobras Distribuidora (XXL, BR)   Automotive Retail 100 97 100 83
2. IJM (L, MY)   Construction & Engineering
2. IJM (L, MY)   Construction & Engineering 100 76 98 92
3. TIM (XL, BR)   Wireless Telecommunication
3. TIM (XL, BR)   Wireless Telecommunication 98 86 96 92
4. Copa Holdings, (L, PA)   Airlines
4. Copa Holdings, (L, PA)   Airlines 96 88 94 89
5. Gamuda (L, MY)   Construction & Engineering
5. Gamuda (L, MY)   Construction & Engineering 96 74 86 94
6. Bajaj Auto (XL, IN)   Motorcycle Manufacturers
6. Bajaj Auto (XL, IN)   Motorcycle Manufacturers 96 58 96 79
7. Kansai Nerolac Paints (L, IN)   Commodity Chemicals
7. Kansai Nerolac Paints (L, IN)   Commodity Chemicals 96 67 98 84
8. Genting Malaysia (L, MY)   Casinos & Gaming
8. Genting Malaysia (L, MY)   Casinos & Gaming 94 86 71 84
9. Hartalega Holdings (L, MY)   Health Care Supplies
9. Hartalega Holdings (L, MY)   Health Care Supplies 94 83 98 26
10. ITC (XL, IN)   Tobacco
10. ITC (XL, IN)   Tobacco 94 22 86 86

December 7, 2023. Top 10s are published weekly following the . ( or for more stocks)


Independent Boards Growth Markets Top 10: Sentiment Investment Strategy

TOP 10 Sentiment Investment Strategy Sentiment Strategy SENTIMENT Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Fraser & Neave Holdings (L, MY)   Soft Drinks
1. Fraser & Neave Holdings (L, MY)   Soft Drinks 100 40 68 80
2. Icici Bank (XXL, IN)   Diversified Banks
2. Icici Bank (XXL, IN)   Diversified Banks 100 9 27 71
3. Mahindra & Mahindra (XL, IN)   Automobile Manufacturers
3. Mahindra & Mahindra (XL, IN)   Automobile Manufacturers 100 62 60 85
4. AKR Corporindo (L, ID)   Oil & Gas Transportation
4. AKR Corporindo (L, ID)   Oil & Gas Transportation 99 37 48 80
5. Hindalco (XXL, IN)   Aluminum
5. Hindalco (XXL, IN)   Aluminum 98 78 42 73
6. Sunway (L, MY)   Industrial Conglomerates
6. Sunway (L, MY)   Industrial Conglomerates 98 59 12 48
7. Press Metal Aluminium Holdings (L, MY)   Aluminum
7. Press Metal Aluminium Holdings (L, MY)   Aluminum 96 35 20 56
8. BDO Unibank (XXL, PH)   Diversified Banks
8. BDO Unibank (XXL, PH)   Diversified Banks 95 33 59 80
9. Larsen & Toubro (XXL, IN)   Construction & Engineering
9. Larsen & Toubro (XXL, IN)   Construction & Engineering 94 34 20 53
10. Gamuda (L, MY)   Construction & Engineering
10. Gamuda (L, MY)   Construction & Engineering 94 74 86 96

December 7, 2023. Top 10s are published weekly following the . ( or for more stocks)


Independent Boards Growth Markets Top 10: Value Investment Strategy

TOP 10 Value Investment Strategy Value Strategy VALUE Growth Strategy GROWTH Combined Strategy COMBINED 360° Strategy 360° VIEW
1. Banco do Brasil (XXL, BR)   Diversified Banks
1. Banco do Brasil (XXL, BR)   Diversified Banks 100 49 58 63
2. Sasol (XXL, ZA)   Diversified Chemicals
2. Sasol (XXL, ZA)   Diversified Chemicals 100 21 68 73
3. Murray & Roberts (L, ZA)   Construction & Engineering
3. Murray & Roberts (L, ZA)   Construction & Engineering 100 27 63 34
4. AECI (L, ZA)   Specialty Chemicals
4. AECI (L, ZA)   Specialty Chemicals 99 25 60 84
5. Gudang Garam (XL, ID)   Tobacco
5. Gudang Garam (XL, ID)   Tobacco 99 53 98 86
6. KAP Industrial (L, ZA)   Industrial Conglomerates
6. KAP Industrial (L, ZA)   Industrial Conglomerates 98 41 67 45
7. Cielo (L, BR)   Data Processing & Outsourcing
7. Cielo (L, BR)   Data Processing & Outsourcing 98 33 75 59
8. Petrobras Distribuidora (XXL, BR)   Automotive Retail
8. Petrobras Distribuidora (XXL, BR)   Automotive Retail 97 85 100 100
9. Sappi (XL, ZA)   Paper Products
9. Sappi (XL, ZA)   Paper Products 96 29 52 53
10. Telkom (L, ZA)   Integrated Telecommunication
10. Telkom (L, ZA)   Integrated Telecommunication 94 51 67 39

December 7, 2023. Top 10s are published weekly following the . ( or for more stocks)


Independent Boards Growth Markets Top 10: Growth Investment Strategy

TOP 10 Growth Investment Strategy Growth Strategy GROWTH Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. ABB India (L, IN)   Heavy Electrical Equipment
1. ABB India (L, IN)   Heavy Electrical Equipment 100 6 53 54
2. Hartalega Holdings (L, MY)   Health Care Supplies
2. Hartalega Holdings (L, MY)   Health Care Supplies 100 83 98 94
3. Tata Power (XL, IN)   Electric Utilities
3. Tata Power (XL, IN)   Electric Utilities 100 25 29 23
4. IDFC First Bank (XXL, IN)   Diversified Banks
4. IDFC First Bank (XXL, IN)   Diversified Banks 100 19 33 19
5. Raia Drogasil (XL, BR)   Drug Retail
5. Raia Drogasil (XL, BR)   Drug Retail 99 7 48 50
6. YPF (XXL, AR)   Oil & Gas Integrated
6. YPF (XXL, AR)   Oil & Gas Integrated 97 8 22 16
7. Arch Capital Group (XL, BM)   Property & Casualty Insurance
7. Arch Capital Group (XL, BM)   Property & Casualty Insurance 97 10 32 69
8. AU Small Finance Bank (XXL, IN)   Regional Banks
8. AU Small Finance Bank (XXL, IN)   Regional Banks 97 5 87 56
9. BBVA (XXL, AR)   Diversified Banks
9. BBVA (XXL, AR)   Diversified Banks 93 29 67 45
10. Azul (L, BR)   Airlines
10. Azul (L, BR)   Airlines 93 53 37 29

December 7, 2023. Top 10s are published weekly following the . ( or for more stocks)


Independent Boards Growth Markets Top 10: Safety Investment Strategy

TOP 10 Safety Investment Strategy Safety Strategy SAFETY Value Strategy VALUE Combined Strategy COMBINED 360° Strategy 360° VIEW
1. The Bank of N.T. Butterfield & Son (XXL, BM)  Diversified Banks
1. The Bank of N.T. Butterfield & Son (XXL, BM)   Diversified Banks 100 39 43 14
2. BCA (XXL, ID)  Diversified Banks
2. BCA (XXL, ID)   Diversified Banks 99 7 75 79
3. Bosch (L, IN)  Auto Parts & Equipment
3. Bosch (L, IN)   Auto Parts & Equipment 98 56 92 83
4. Ninety One Group (L, ZA)  Asset Management & Custody
4. Ninety One Group (L, ZA)   Asset Management & Custody 98 55 78 61
5. Astral Foods (L, ZA)  Packaged Foods & Meats
5. Astral Foods (L, ZA)   Packaged Foods & Meats 98 72 92 74
6. Rand Merchant (L, ZA) ☀  Life & Health Insurance
6. Rand Merchant (L, ZA) ☀   Life & Health Insurance 98 19 85 72
7. Impala Platinum (XL, ZA)  Precious Metals & Minerals
7. Impala Platinum (XL, ZA)   Precious Metals & Minerals 98 80 82 55
8. ICICI Lombard General Insurance (L, IN)  Property & Casualty Insurance
8. ICICI Lombard General Insurance (L, IN)   Property & Casualty Insurance 98 14 66 28
9. Ambuja Cements (XL, IN)  Construction Materials
9. Ambuja Cements (XL, IN)   Construction Materials 98 43 53 56
10. City Union Bank (XXL, IN)  Diversified Banks
10. City Union Bank (XXL, IN)   Diversified Banks 97 33 75 76

December 7, 2023. Top 10s are published weekly following the . ( or for more stocks)


Independent Boards Growth Markets Top 10: Combined Investment Strategy

TOP 10 Combined Investment Strategy Combined Strategy COMBINED Value Strategy VALUE Growth Strategy GROWTH 360° Strategy 360° VIEW
1. Petrobras Distribuidora (XXL, BR)  Automotive Retail
1. Petrobras Distribuidora (XXL, BR)   Automotive Retail 100 97 85 100
2. Hartalega Holdings (L, MY)  Health Care Supplies
2. Hartalega Holdings (L, MY)   Health Care Supplies 98 83 100 94
3. Gudang Garam (XL, ID)  Tobacco
3. Gudang Garam (XL, ID)   Tobacco 98 99 53 86
4. IJM (L, MY)  Construction & Engineering
4. IJM (L, MY)   Construction & Engineering 98 76 91 100
5. Kansai Nerolac Paints (L, IN)  Commodity Chemicals
5. Kansai Nerolac Paints (L, IN)   Commodity Chemicals 98 67 93 96
6. SBI Life Insurance (XL, IN)  Life & Health Insurance
6. SBI Life Insurance (XL, IN)   Life & Health Insurance 97 21 85 82
7. TIM (XL, BR)  Wireless Telecommunication
7. TIM (XL, BR)   Wireless Telecommunication 96 86 77 98
8. Bajaj Auto (XL, IN)  Motorcycle Manufacturers
8. Bajaj Auto (XL, IN)   Motorcycle Manufacturers 96 58 75 96
9. Copa Holdings, (L, PA)  Airlines
9. Copa Holdings, (L, PA)   Airlines 94 88 83 96
10. Bosch (L, IN)  Auto Parts & Equipment
10. Bosch (L, IN)   Auto Parts & Equipment 92 56 55 83

December 7, 2023. Top 10s are published weekly following the . ( or for more stocks)


☀ This company has a special achievement which is documented on its stock research page.

Top 10 lists may contain fewer than 10 stocks due to Obermatt’s top 10 quality standards.

Top 10 Stocks from the purely fact-based Obermatt Method in the stock index Independent Boards in Growth Markets from December 7, 2023.

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