Key Points
NEW DELHI: Global brokerage firm Jefferies, which had tactically raised cash during the peak of the market in September, has now redeployed the idle capital to buy 6 stocks and also sold 4 counters..
Jefferies has replaced Maruti Suzuki with Eicher Motors, Marico with Honasa (Mamaearth), and Power Grid with NTPC...
"We add Coal India, Honasa, Eicher, NTPC, HDFC Bank and ICICI Pru Life at the cost of cash, Marico, Maruti, Power Grid," Mahesh Nandurkar of Jefferies said, adding that cash is being redeployed as key macro concerns of higher US yields, rising oil prices and near-term state election results have subsided...
Notwithstanding any big external shock, the current market multiples can sustain given the strong domestic flows," Nandurkar said.. Maruti was replaced with Eicher because two-wheeler demand is expected to grow at a faster pace than passenger vehicles over the next 2 years..
It also caters to a much premium consumer, relatively unimpacted by inflation and demand slowdown," it said.. Jefferies has also increased the weight on Coal India by 3 percentage points citing improved earnings outlook and 7-8% dividend yield...
You might be interested in
Oil prices drop over $1 after US inflation, Fed outlook hurts consumer demand; Brent at $82/bbl
21, May, 24Higher borrowing costs tie up funds in a blow to economic growth and demand for crude, as well as pressuring consumer demand at the pump.
Sensex Today | Share Market Live Updates: Sensex, Nifty may open higher tracking Gift Nifty
28, Sep, 23Sensex Today Live | Stock Market updates: Sensex and Nifty may open higher on Thursday tracking Gift Nifty. Asian stocks declined as investors fret over higher interest rates higher and rising oil prices
2023 in review: Over 40 Nifty50 stocks rose between 10% and 90%; Tata Motors, NTPC top gainers
18, Dec, 23The Nifty 50 achieved remarkable milestones in 2023, breaking through the 19,000 level in June and reaching 20,000 in September. On December 08, it soared past the 21,000 mark, culminating in a record high of 21,492 points over the next five trading sessions.
Looking for power play? Buy these 5 stocks as SIP, says Sanjiv Bhasin
14, Nov, 23“You can add a Tata Power which will be the best power play on the private side but do not miss this basket of REC, PFC, NTPC, and Coal India and add an NMDC. If you bought these five stocks as SIP, you will be richly rewarded for the next six months but add Tata Power in that basket.”
India to be main engine of global coal demand growth: IEA
15, Dec, 23India Business News: India will drive global coal demand growth through 2026, despite calls to phase out fossil fuels. The International Energy Agency (IEA) projects India
Maruti Suzuki Q2 net profit jumps over 80 per cent to Rs 3,717 crore
27, Oct, 23India Business News: Maruti Suzuki India's net profit in the September quarter rose by 80.3% to Rs 3,716.5 crore, driven by higher sales, cost reduction efforts, and incre
RBI raises India FY24 GDP forecast by 10 bps to 6.5%
06, Apr, 23The Reserve Bank of India differed with the World Bank and painted a better picture of India's growth prospects and expected price pressures to ease as crop output increases. While the numbers may not really be significant, the messaging is subtle that the MPC (monetary policy committee) expects the economy to fare well on both counts this year, said Madan Sabnavis, chief economist at Bank of Baroda.
Sensex, Nifty at record high. Time to be greedy or fearful ahead of Q1 test?
30, Jun, 23Foreign institutional investors (FIIs) have invested $10 billion in Indian equities in the first quarter of FY24, leading to a rally in the stock market. Analysts believe that India is a preferred destination for investors looking for alternatives to China. The participation in the rally has been broad-based, with mid and smallcaps outperforming. With reasonable valuations, the Nifty index is expected to rally further and may reach 21,000. Encouraging progress of monsoons and a rate pause by the RBI are also boosting market sentiments. However, global geopolitical tensions and negative surprises in Q1 earnings could impact the market.
Oil plunge deepens as concerns over economy drive selloff
03, May, 23Oil futures fell to the lowest since March, when the first tremors of a banking crisis were sending prices into a tailspin.
Oil prices on track for fourth straight week of declines
17, Nov, 23By Florence Tan SINGAPORE (Reuters) -Oil prices were little changed on Friday but on track for their fourth straight week of losses after tumbling about 5% to a four month-low on Thursday on worries