India stocks - Ceta Research

Growth of $1 invested in sector-adjusted momentum India vs S&P 500 from 2000 to 2025. India strategy grew substantially while SPY grew modestly.

momentum investing

Sector-Adjusted Momentum on India: 25.62% CAGR Over BSE and NSE Data

We backtested the Sector-Adjusted Momentum strategy on Indian stocks (BSE and NSE) from 2000 to 2025. The strategy buys stocks that are outperforming their own sector peers, not just the market overall. The result: 25.62% annual return versus the S&P 500's 8.01%, with 22.

Growth of $1 invested in 12-Month Price Momentum India vs S&P 500 from 2001 to 2025.

momentum investing

12-Month Momentum on Indian Stocks: 22.74% CAGR Over 25 Years

Pure price momentum is supposed to work in emerging markets. India confirms the theory. Buying the top 30 Indian stocks by 12-month trailing return, semi-annually, delivered 22.74% annually from 2001 to 2025. That's +15% per year over the S&P 500 benchmark, one of the largest

Growth of $10,000 invested in EV/EBITDA sector-relative India strategy vs S&P 500 from 2000 to 2025, showing the high-volatility outperformance trajectory

India stocks

EV/EBITDA Sector Discount on India: High Returns, High Volatility

Indian equities aren't for the cautious. We ran a sector-relative EV/EBITDA screen on BSE and NSE stocks from 2005 through 2025, and the results reflect everything that makes Indian markets both exciting and punishing: 11.18% CAGR with a max drawdown of -54.88%. The strategy outperformed

P/E mean reversion

P/E Mean Reversion in India: 11.14% CAGR Over BSE + NSE Data

We tested a sector-relative P/E mean reversion screen on 25 years of Indian stock data from BSE and NSE. The signal fires when a stock trades at a 40%+ discount to its sector peers on P/E, filtered for profitability and manageable debt. The strategy returned 11.14% annually

Growth of $10,000 invested in the Compounding Equity Screen India vs S&P 500 from 2000 to 2025.

equity growth

Compounding Equity Screen India: 6.48% CAGR With Remarkable Crisis

We backtested the Compounding Equity Screen on BSE+NSE stocks from 2000 to 2025. The portfolio returned 6.48% annually vs 7.83% for the S&P 500. That's a -1.35% annual shortfall over the full period. Contents 1. Method 2. Signal and Filters 3. Why

Growth of $10,000 invested in Defensive Quality India screen vs S&P 500 from 2004 to 2024.

defensive investing

Defensive Quality in India: 17.23% CAGR and a -6.61% Max Drawdown

Defensive Quality in India: 17.23% CAGR With a -6.61% Max Drawdown The best result in our 16-exchange defensive quality study wasn't the US. It was India. Contents 1. Method 2. Why India's Defensive Sectors Are Different 3. What We Found 4. Extraordinary risk-adjusted returns

P/E compression

India P/E Compression: Negative Sharpe and 102% Down-Capture

P/E compression on Indian stocks underperforms SPY by 3.50% annually with a negative Sharpe ratio (-0.071) and 102% down-capture. The strategy amplified losses instead of protecting downside. When SPY lost 10%, this portfolio lost 10.2%. Extreme volatility makes P/E compression unreliable: compressed multiples are often