Get expert insights on what to buy and sell after the Budget 2024 announcements. These experts will assess the interim budget's impact on companies and their share prices.
Infosys Ltd. has revisedits growth expectations for the fiscal ending March 31, 2024, even as revenue declined in the October-December quarter.
Revenue of India's second largest IT services company fell 0.44% over the previous three months to Rs 38,821 crore in the quarter ended Dec. 31, 2023, according to an exchange filing on Thursday. That compares with the Rs 38,318 crore estimate of analysts tracked by Bloomberg.
In one-year, the stock has surged 6.86%, outpacing the benchmark Nifty 50 index, which recorded a increase of 23.50%.
In the defense and railways sectors, stocks have seen a big jump in over a year. Investors should be cautious about the prices they are paying and carefully consider the valuations, Shah added.
Themes like Defense, Electric Vehicles, and Power are expected to play out over several years. "Valuations are really expensive in these sectors", Shah said.
"A bull market can seduce you to invest in stocks at wrong valuations".
Markets could enter into a long period of consolidation. On the downside, Nifty has good support around 21,400-21,200. On the upside, there is support at 21,900-22,000, Agarwala noted.
Shares linked to rural spending and state-owned firms are likely to be a focus area in Finance Minister Nirmala Sitharaman’s budget speech, as policymakers seek ways to boost demand in the vast rural hinterland.
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