3 sectors that may give you freedom from worries this Independence Day
In a market insight, Siddhartha Khemka highlighted robust domestic liquidity and strong interest in quality IPOs. He noted pharma, FMCG, and automotive as promising sectors. Khemka also pointed out Gravita India and Signature Global for their growth potential. Additionally, he expressed optimism for new-age tech stocks like Zomato and Policybazaar. Key Points
Economic TimesM&M Group’s Anish Shah on internal reorganization and Budget takeaways
Amarjyoti Barua, a strong finance leader with international experience, joins Mahindra Group as CFO. He will continue the capital allocation strategies implemented by outgoing CFO Manoj Bhat and drive exponential growth. Bhat has been made CEO of Mahindra Holidays which Mahindra Group aims to make a key player in the tourism industry and grow its resorts at least 3X. The budget presented by the government focuses on long-term economic growth. The private sector is expected to step up its capex as the government reduces its commitment. Key Points
Economic TimesBajaj Auto Q3 results today: What to eye in the fineprint; how to trade the stock?
Bajaj Auto Q3 Results: Bajaj Auto Ltd is set to release its Q3 earnings today, with investors optimistic about strong volume growth and operating leverage benefits. The company's shares have rallied over 31% in the last three months, driven by festive demand, easing costs, and a share buyback plan. Key monitorables include core earnings, with net profit expected to rise 33.3% YoY to Rs 1,987 crore, revenue to rise 29% YoY to Rs 12,039 crore, and operating profit to increase 32% to Rs 2,341 crore. Key Points
Economic TimesStock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 41%
After a phase of strong directional movement with a clear bullish bias, some volatility was witnessed at index level as both nifty and sensex witnessed strong moves. More importantly, it was the market breadth which was indicating that some profit booking was happening at the broader market level. One cannot rule out volatility with strong bearish bias and more damage to stock prices in the mid-cap segment. In such times, if one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesRelying on MOAT of strong brands: 6 non-FMCG stocks from consumer space with upside potential of up to 31%
Normally FMCG sector is associated with the power of brands. However, there are many industries, where a strong brand plays an important role. There are enough examples of firms that have built strong brands & have been getting premium on Street. The reason, a strong brand helps a company weather storms of an economic slowdown or inflationary pressure. Also over long term the final cost of doing business is lower, margins are higher as the concept of reverse working capital comes into play when the brand is strong. Yes, there are phases where they underperform because sometimes their valuations do get stretched, but then over time earnings do tend to help in normalization of valuations. Key Points
Economic Times
Realty stocks add 30% gains in the first week of 2024; what’s buzzing?
The S&P BSE Real Estate index gained more than 8% in a week, and the gauge hit an over 15-year high of 6820.59 points. Godrej Properties, The Phoenix Mills, Prestige Estates Projects, and Sobha gained 11-30% so far this week. While, Mahindra Lifespace Developers, Oberoi Realty, and Macrotech Developers added 6-8% this week. Key Points
Economic TimesHero MotoCorp, TVS, Eicher, Maruti, M&M may see strong December wholesale numbers. CV sales number may be soft.
Stock Market Today- Hero MotoCorp, TVS Motor, Eicher (RE), are likely to report strong two wheeler wholesales lifted by wedding season during December. Maruti, M&M may also see strong passenger Vehicle sales, though commercial Vehicle sales growth may be soft for on a high base. Key Points
mintINOX India GMP soars 80% ahead of listing. Another bumper IPO debut on cards?
According to experts, INOX India is all set for a strong stock market listing, given the strong investor interest around its IPO. In fact, the latest GMP trends also suggest that the IPO could offer a significant listing pop to investors. Key Points
India TodayNifty hits record high, Sensex up 500 points. What’s driving the rally?
While Sensex traded 536.68 points higher at 67,525.12 at around 2:08 pm, the NSE Nifty 50 achieved a new record high of 20,291.55. Key Points
India TodayIndia’s November manufacturing PMI rises to 56.0 from 55.5 in October
The findings were positive for Asia's third-largest economy, which grew a surprisingly strong 7.6% last quarter, slightly slower than the 7.8% growth seen in the April-June quarter but remaining on track to be the fastest growing major economy this fiscal year. Key Points
Business Today
4 companies with strong brands from consumer space that can offer up to 39% returns
There are a set of companies where valuations are not cheap, but analysts have not initiated a sell call, rather they have moved to hold. These companies have strong brands and that has helped them weather out many storms in the past . A strong brand helps a company's weather all storms of an economic slowdown or inflationary pressure and over a period of time it has been witnessed that companies with strong brands are able to pass on increased costs and maintain their margins to a large extent. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list. Key Points
Economic TimesTremors felt in Delhi after 6.4-magnitude earthquake jolts Nepal
A strong 6.4-magnitude earthquake jolted Nepal on Friday night, the National Center for Seismology said. The tremors were also felt in North India, including Delhi, Noida and Gurugram, and Bihar. The epicentre of the quake was in Nepal at a depth of 10 km Key Points
FirstpostEarnings season held up well; positive on Cipla and Sun Pharma: Mayuresh Joshi
The BFSI space has held up well. Midcap IT has produced another quarter of stupendous earnings and management commentaries are pointing out towards no damage to probably come from either the pricing action or demand dynamics at least at this juncture. A few of the capital good companies obviously have reported a strong set of numbers and though cement companies have disappointed, the reason is obvious. Q2 is expected to be weak for monsoons. Key Points
Economic TimesAll 15 Nifty Auto stocks above 200-DMA. Will Q2 results, festive demand give a fillip?
Auto sector has witnessed a healthy retail uptick during Onam and Ganesh Chaturthi, it is expected that retail sales during the upcoming festive season (Diwali, Dusherra) will be strong compared to the previous year. With 27% returns in 6 months, the Nifty Auto index is among the best sectoral performers and is led by strong upside in Tata Motors, Maruti Suzuki, M&M and Hero MotoCorp. Key Points
Economic TimesETMarkets Smart Talk: Microcap space looks a little overvalued; auto, pharma, banks likely to lead next le
Sushant Bhansali, CEO of Ambit Asset Management, states that the microcap space appears overvalued and could experience a significant correction. He remains positive on sectors such as autos, pharma, banks, discretionary consumption, and chemicals. Bhansali believes that the Indian economy's fundamentals are strong, with expectations of continued double-digit growth for the Nifty index. He mentions that rising crude oil prices may delay rate cuts but is not overly concerned due to stable currency and strong economic fundamentals. Key Points
Economic Times
Crisil upgrades Thomas Cook India’s credit rating
The travel service provider said its revenue increased 164% to ₹50.91 billion in fiscal 2023 from ₹19.31 billion the previous year owing to the strong resurgence in demand and robust recovery in all business segments Key Points
mintIn Delhi’s beer market, strong brews trump big brands— ‘more bang for buck’
Delhi govt data shows that top 20 best-selling beers in the capital mainly fall into the ‘strong’, ‘super strong’, or ‘extra strong’ categories. Several regional labels feature too. Key Points
ThePrintToyota working on clean tech for Indian market: Masakazu Yoshimura
The company, which operates in a joint venture with the Kirloskar Group, has started testing a flex fuel strong hybrid version of multi-purpose vehicle Hycross in India. “This is a prototype which we are testing for the first time globally for the market in India. It can take ethanol as well as with the strong hybrid and can have a better fuel efficiency of about 40-50% (compared to gasoline),” said Yoshimura. Key Points
Economic TimesBacking of a strong parent: Beside’s Jio financial 7 such stocks with upside potential of up to 35%
If one looks at the survivor of the NBFC aftermath of 2018, it is very clear that a strong parentage was the common factor among the NBFC’s which not only survived the crisis but also thrived post crisis. A number of them belong to industrial groups from the southern and western part of India. Is it because they are focussed on the southern and western part of India which is more prosperous or they are more focussed on systems and processes ensuring that their loan book grows slowly but sustainably. Key Points
Economic TimesEarthquake today: Magnitude 6.3 earthquake, strong aftershock rattle Colombia capital Bogota, other cities
Colombia capital Bogota was rattled by a strong earthquake. The strong earthquake was followed quickly by a strong aftershock shook Colombia's capital and other major cities Thursday. There were no immediate reports of casualties or damage. Key Points
Economic Times
Possible outliers! 7 NBFCs which also have strong parentage can rise up to 28%
If one looks at the survivor of the NBFC aftermath of 2018, it is very clear that it was a strong parentage which was the common binding factor in all the NBFC and financial services companies which not only survived but after a point of time also thrived. Now with a strong new player like Jio financial entering this space, what opinion analysts holds for other companies in this space with strong industrial backing. Key Points
Economic TimesFinolex Q1 result: Net profit up 10% to ₹110.88 crore, shows volume growth despite PVC price correction
Finolex Industries reported unaudited Q1FY24 financial results with a decrease in revenue but strong margins and volume growth in the PVC pipes and fittings segment. Despite a correction in PVC prices, the company's operating margin improved and it demonstrated strong year-on-year growth. Key Points
mintMarket Trading Guide: Maruti Suzuki, Infosys futures are 2 stock recommendations for Tuesday
Benchmark equity indices in India rose for the second consecutive session, driven by strong performances from index heavyweight Reliance Industries and IT stocks. The 30-share BSE Sensex rose 234 points to settle at 61,963.68, while the Nifty surpassed the 18,300 level. Despite strong market gains, caution is advised around the important retracement resistance zone. Experts recommend buying Maruti Suzuki Futures and Infosys Futures, due to bullish indications and patterns on daily and 4-hourly time frames. Key Points
Economic TimesSensex, Nifty gain as financial stocks rebound; investors await key inflation data
The S&P BSE Sensex closed 178.87 points higher at 61,940.20, while the NSE Nifty ended 49.15 points higher to settle at 18,315.10. Broader market indices also witnessed a strong recovery, led by improvement in sentiments. Key Points
India TodayRaashi Khanna says she was shocked when she got a ‘strong girl’ role in a Karan Johar production: ‘It’s not like aayi aur chali gayi’
Actor Raashi Khanna opened up about her character in Yodha and said that it is 'one of those strong roles'. The film also stars Sidharth Malhotra in the lead role. Key Points
The Indian Express
This real estate market is end-user-driven; sales demand momentum likely to continue: ANAROCK
This recovery in real estate is pretty different from what we saw post-Global Financial Crisis. This is based on solid fundamentals. Post RERA, we have a very strong and disciplined market. This is an end-user-driven market, not investor and speculative. That is why we are expecting continued momentum in the sales demand.” Key Points
Economic TimesNeutral on IT; prefer Tata Motors & Ashok Leyland in auto: Siddhartha Khemka
According to Siddhartha Khemka, Tata Motors and Ashok Leyland are the preferred picks within the overall OEM space, with commercial vehicles performing particularly well. Although the IT sector has reported weaker results, midcap and tier II companies have reported strong numbers and growth outlooks. Pecking order for tech majors places TCS and HCL Tech in the lead among large caps and Persistent and Cyient among midcaps. Key Points
Economic TimesBarring more three-sigma events, next 12 months, Indian market will do well: Chakri Lokapriya
Despite multiple three-sigma events, Indian markets have withstood the challenges and valuations remain intact. PSU banks will continue to perform well over the next 12 months as credit growth and NIMs remain strong. Indian IT companies are well placed due to their zero debt and therefore, offer favourable valuations. Real estate in South India, particularly Bangalore, look profitable due to a strong demand. Key Points
Economic TimesIndia Shelter Finance shares list at 25% premium over IPO price
The shares of India Shelter Finance listed at Rs 618 apiece on the stock exchanges, marking a 25 per cent premium over the issue price of Rs 493. The strong listing was in line with what analysts and experts had predicted earlier. Key Points
India TodayIndian politics is becoming increasingly partisan. We have the data to prove it.
Strong partisans — those with deep attachment to the party they vote for — now comprise close to half of the urban segment. This has strong implications on what kind of politics to expect on social media, on the poll trail, and on the ballot. Key Points
mint
ETMarkets Smart Talk: Real estate sector is witnessing a multi-year cycle: Dr. Poonam Tandon
We believe the long-term capex story remains intact as we are seeing a massive shift in the capex cycle benefiting from the China plus strategy. For us the domestic capex story remains intact and consumers and corporate sentiments are resilient with a steady macro regime post-COVID, but we do not rule out the volatility as the hardening of USD and crude oil prices could pose a challenge in the interim. Key Points
Economic TimesBreakout Stocks: How ITI, HDFC AMC and Angel One are looking on charts for Monday’s trade
HDFC AMC has been trading above all the key moving averages which seems to suggest that it is poised for a big run in the forthcoming trading session. The counter has given a pattern breakout with strong volume buildup as well, signalling big hands are also taking part in the stock. Key Points
Economic TimesOnce the technical selling is over, Jio Financial will go much higher: Chakri Lokapriya
The price discovery will happen once this technical selling is over. I still strongly believe that it starts off the race in a very strong place with strong capital which is the number one requirement for any NBFC. So, which means I think over time, it will actually see a re-rating of the multiples which on a fair value basis is hardly about a couple of times book value where it should trade much higher given its NIMS will be much higher. Key Points
Economic TimesAxis picks Coforge, Persistent Systems, and KPIT Tech in IT space post Q3 results
Axis believes that the said recovery will begin at the start of the new year and FY25 will show strong revenue growth. The brokerage has picked Coforge, Persistent Systems, and KPIT Technologies as its top IT sector picks post the December quarter (Q3FY24) results. Key Points
mintIndian stock indices touch fresh summits; firm growth outlook, foreign investments buoyed
New Delhi [India], December 20 (ANI): Indian stock indices – Sensex and Nifty – hit fresh highs at the opening bell Wednesday, due to a host of factors including a firm economic growth outlook and strong inflow of foreign investments. The indices had touched their all-time highs last week too. Show Full Article Sensex was […] Key Points
ThePrint
Amid e-car hype, waiting time goes up for hybrid vehicles
Shashank Srivastava, senior executive director (marketing and sales), Maruti Suzuki, told ET that lower acquisition costs than EVs, self-charging technology that does not require supporting charging infrastructure, and fuel efficiency in city driving conditions have been driving demand for strong hybrid vehicles. They run 40-50% of the time on battery in urban cycles, reducing fuel consumption and tailpipe emissions, said Srivastava. At the same time, the acquisition cost is lower at 1.28X, vs 1.5X for EVs, compared with petrol cars. Key Points
Economic TimesMidcaps in sweet spot as valuations fall
Midcaps have been on a good run of late, with the BSE MidCap index hitting an all-time high last week. Keeping up its strong run, the index on Friday hit a new lifetime high of 27,294.10, surpassing its previous high earlier in the week. Key Points
FinancialexpressITC shares hit fresh 52-week high: Will the rally continue?
ITC stocks have been on a bull run this year, having gained over 32 per cent since January. In the past 12 months, shares of the cigarette maker have surged over 61 per cent and over 100 per cent in the past two years. Will the rally continue? Key Points
India TodayOsho Krishan is betting on these 2 stocks. Here’s why
Osho Krishna says: Reliance has formed a drastic breakout, hovering at its 52-week high. A V-shape recovery on the weekly chart led to a fresh breakout in the yesterday trading session. Hold positions with a strong support at Rs 2,580 and a short-term stop loss of Rs 2580. Investors should accumulate for medium to long-term, with an immediate target of Rs 2,720. Polycab has seen a breakdown below the 200-day SMA, stay on the sidelines until consolidation or accumulate at Rs 3,600 or around Rs 4,200. Key Points
Economic TimesSmallcap index gave 70% return this year. Will it be a repeat performance in FY25? Chakri Lokapriya answer
Chakri Lokapriya anticipates a strong year with robust fundamentals in new sectors. Smallcap index saw a 70% return. Focus on investors, traders, NBFCs, auto sector players like Maruti and TVS Motors, and companies like Shriram Finance, SBI, VIP and Safari. Also, Lokapriya says we will continue to hold on to Indian Hotels, Chalet Hotels, Lemon Tree, Thomas Cook. Key Points
Economic Times
Internal re-rating? 7 stocks from financial service sector with upside potential of up to 26%
In the correction that markets saw in the last four trading sessions, the financial sector stocks, right from banks to other players also declined. But if one looks at the magnitude and the internal breadth of the sector it was much better as compared to a month back when the market correction was started by HDFC bank. There was a bit of profit booking in the PSU bank space, but once again after a small corrective move, things were back with a strong intraday recovery. The way things are panning out in the industry with regulatory tightening taking place, there is very likely that we might see a divergence in performance of different segments of this sector which has the highest correlation with the GDP growth. Better balance sheets and strong franchise are likely to be the differentiating factors. The factor which is largely technical in nature is the shareholding patterns that will also impact the performance of the stocks from this sector. Key Points
Economic TimesSensex, Nifty end higher amid strong rally in financial and realty stocks
The S&P BSE Sensex ended 490.97 points higher at 71,847.57, while the NSE Nifty50 gained 141.25 points to settle at 21,658.60. The broader market indices also put up a strong performance, in line with the benchmarks. Key Points
India TodayETMarkets Smart Talk: Stay put! Nifty could give 20% return in Smavat 2080: Amar Ambani
“Real estate is one of our favourite sectors in the market. Demand for housing is extremely strong, even at these elevated rates of interest. Were witnessing more sales compared to launches and thus, residential inventory is at a decade low. Key Points
Economic TimesMorgan Stanley sees India outperforming China in 2024; adds RIL, DMart to focus list
India has delivered strong relative earnings, sustaining the strong market outperformance seen in 2022, while macro-fundamentals have withstood tightening financial conditions in the US. “India is set to establish secular economic and earnings outperformance vs EM,” the investment bank said in its 2024 outlook report. Key Points
Economic TimesDollar hits new high on upbeat data, yen teeters near intervention line
By Brigid Riley TOKYO (Reuters) - The dollar held on to fresh highs on Tuesday, pushing the yen down closer to an intervention zone, after strong U.S. economic data bolstered the view that the Federal Key Points
ThePrint
When World Cup brings a windfall
Hotels are the clear winners with the event falling in the festive and holiday season when demand is usually strong.Occupancies and average room rates are likely to rise in the December quarter. Key Points
mintStock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 32%
After many months of strong rally, for the last three weeks, the stock market has witnessed what can be called a correction. It has been different from previous corrective moves, along with nifty and sensex, even the broader market breadth in mid and small cap segment saw stocks shedding weight. In such times, if one is looking to buy stocks it would be better to look at stocks where some fundamentals developments have made analysts turn bullish on them. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesADP forecasts robust fiscal 2024 revenue on new contract wins
Payroll processor Automatic Data Processing (ADP.O) forecast annual revenue above market estimates on Wednesday, helped by strong demand for company services and new contract wins. Key Points
ReutersIndia’s office supply likely to touch 1 billion sq ft by 2030: Report
India's prime office space supply is expected to reach 1 billion sq ft in tier I cities, up from the current 700 million sq ft, by 2030 due to low-cost advantages, competitive wages and a strong talent pool. Office developers have been commended for being innovative and ESG-conscious to ensure buildings match global standards. Key Points
Economic TimesStock Market LIVE: Sensex, Nifty to start on positive note; Gift Nifty in green
Share Market LIVE Updates: Benchmark indices are expected to start in the green territory after record-high closings on Friday as Gifit Nifty is trading higher. Wall Street ended lower in the Friday session, while Asian markets are trading on a mixed note in the morning session on Monday. Key Points
Mint
Bank Nifty hits record high
Banks and financials led from the front on the first day of the week, with the Bank Nifty surging 293.90 points or 0.67% to a lifetime high of 44,311.90. Key Points
FinancialexpressElgi Equipments Q4 results: Share price extend rally on strong Q4 earnings
The air compressor manufacturer reported consolidated net profit of ₹170.1 crore in Q4FY23, registering a staggering 133% year-on-year growth. Key Points
mintMarkets gain more than 1% helped by easing slowdown concerns
The Sensex ended the day up by 1.16% while Nifty was up 1.08% Key Points
mintstrong quake in central Japan; 1 dead, more than 20 injured
More than 50 aftershocks strong enough to be felt have been recorded since, including one at 5.8 magnitude on Friday night. Key Points
FinancialexpressRane Madras posts standalone loss of ₹196 cr. in Q4
Rane Madras Ltd. (RML) has posted a standalone net loss of ₹196 crore for the quarter ended March from the year-earlier period on account of impairment of ₹223 crore. Key Points
The Hindu
Siddhartha Khemka on why Bajaj Finance saw a sell-off post results
Mumbai-based MOFSL's Siddhartha Khemka says he has a positive view on Bajaj Finance despite the recent sell-off in response to its in-line Q1 results. He said the addition of new products to its range of services should help the firm grow. Khemka also expects broad-based improvement in India's healthcare market, adding that the regulatory uncertainty which has hung over the sector has eased somewhat, with some pharma firms already reporting better numbers. Khemka says he prefers Sun Pharma rather than Cipla or other local pharma names. Key Points
Economic TimesOnly bad news is that Indian Hotels do not have more hotels in Delhi, Mumbai & Goa: Puneet Chhatwal
Indian Hotels CEO, Puneet Chhatwal, anticipates a rise in healthy room rates and occupancy as demand for travel outpaces supply over the next two years. He anticipates growth in business travel recovery, as well as growth in the leisure industry. Additionally, he notes that the Taj brand has been integral in allowing the company to gain more market share and grow. Key Points
Economic TimesIndian shares set to open at new record highs while global rally eases
India's benchmark indexes are set to open at fresh record highs on Tuesday, after scaling new peaks in the previous session on strong macroeconomic data, elevated bets of a U.S. rate cut in March and the ruling Bharatiya Janata Party's win in key state elections. Key Points
ReutersIndia's Prestige Estates Projects posts higher Q2 profit on strong housing demand
India's Prestige Estates Projects (PREG.NS) reported a more than six-fold jump in second-quarter profit on Tuesday, aided by a buoyant housing demand. Key Points
ReutersThomas Cook India sees Q2 profit up 16 times to Rs 76.6 crore this Q2
India Business News: Thomas Cook India has reported a record growth in profit for July-September 2023, (Q2 FY ’24) with the same growing to Rs 76.6 crore from Rs 4.9 crore Key Points
Times Of India
Expect 21% growth in Nifty earnings for this quarter: Siddhartha Khemka
“In terms of valuations, wWithin the cable and wire segment, PolyCab and KEI are the two companies which have been come up with consistent earnings delivery. Those are the places to play the housing theme or the real estate theme. These two companies could be the preferred picks within the segment. ” Key Points
Economic TimesStock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 37%
For the last three weeks, the stock market has witnessed correction in all segments of the market. Whether it is, large, mid or small cap market breadth in all segments remained weak in a number of trading sessions. In such times, if one is looking to buy stocks it would be better to look at stocks where some fundamentals developments have made analysts turn bullish on them. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame Key Points
Economic TimesCeridian delivers revenue beat on robust demand for payroll services
Ceridian (CDAY.N) slightly raised its annual revenue forecast on Wednesday and surpassed quarterly sales estimates, thanks to strong demand for its human resources and payroll management services. Key Points
ReutersAfter strong re-rating, 4 stocks from 2 sectors turn outperformers. What's in store ahead?
After witnessing a strong re-rating for 5 years, companies with strong brands in different sectors, still coming under the umbrella of consumer space have witnessed a consolidation. Even in the current bull run they have not performed as well as they used to do in the past as they were leading the bull run. Is the period of consolidation over ? Key Points
Economic TimesIndian IT shares log best day in 3 years on easing rate worries, strong deal pipeline
Shares of Indian information technology companies surged 4.5% on Friday, in their biggest one-day jump since September 2020, boosted by strong deal pipelines and rising expectations of an imminent pause in U.S. rate hikes. Key Points
Reuters
Readjustment of re-rating complete; 4 stock ideas with strong brands from 3 sectors
After witnessing a strong re-rating for 5 years, companies with strong brands in different sectors but still coming under the umbrella of consumer space have witnessed a consolidation. Even in the current bull run they have not performed as well as they used to do in the past. Is the period of consolidation over? Key Points
Economic TimesWhy does Ridham Desai of Morgan Stanley find India attractive despite rich valuations?
Indian equities remain attractive despite high relative valuations due to strong earnings growth prospects and increasing bids from domestic and foreign investors, according to Morgan Stanley India's Managing Director, Ridham Desai. While relative valuations remain high, India's profit book, low market correlation with oil and US growth and lower beta to emerging markets, set up India for strong equity markets, Desai said. Key Points
Economic TimesAdani Green Energy profit more than triples to Rs 507 crore
Ahead of the earnings announcement, AGEL’s shares closed up 3.67% at ₹950.60 on the BSE on Friday. Key Points
FinancialexpressTrent shares surge 23% in two sessions on strong Q3 results. Should you but at current levels?
Fashion and lifestyle player Trent reported a 124% year-on-year (YoY) surge in consolidated net profit at Rs 374.36 crore for the quarter ended December 30. The profit stood at Rs 167 crore in the corresponding quarter last fiscal. Key Points
Economic TimesMidcaps and smallcaps can deliver strong returns over 12 to 18 months: Naveen Kulkarni
The Indian equity market is currently oversold, offering good opportunities for long-term investors to enter, according to Naveen Kulkarni, CIO at Axis Securities. He said midcaps and smallcaps could deliver strong returns over the next 12 to 18 months, provided quality companies were chosen to invest in. Kulkarni also recommended buying into private banks, adding they were in a strong position and growth would pick up over the next few years. Finally, he said Reliance Industries stock was currently undervalued, and suggested purchasing it for potential 15% returns over a year. Key Points
Economic Times
Robust PMI figures signal a strong economic momentum
The HSBC India Services PMI clocked a robust 60.6 in February. Together with the manufacturing PMI climbing to a five-month high, there’s cause for optimism. Key Points
mintStock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 24%
While the volatility has been in nifty every now and then, the difference this week was that the mid-cap segment also participated in the correction and breadth was negative. This is indicative of profit booking happening at the broader market level. At this point of time, one cannot rule out volatility with strong bearish bias and more damage to stock prices in the mid-cap segment. In such times, if one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic Times