Aditya Shah from Hercules Advisors is optimistic on the following sectors and stocks
Chemicals: Navin Fluorine, Deepak Nitrite
Capital Goods: Larsen & Toubro, PSP Projects, UltraTech Cement
Pharmaceuticals: Syngene International, Divi's Laboratories
Financial Services: HDFC Bank, ICICI Bank, Kotak Mahindra Bank
Infosys Q3 Results: Key Highlights
Infosys Ltd. has revised its 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.
Dharmesh Kant, Head Equity Research, Chola Securites
Nothing unusual came of the market during the interim budget. The only take away for market was the additional infra spending.
"Fiscal consolidation is the mantra for this budget, this is not a growth oriented budget".
FM was very clear about the technology driven and research driven development. "That is the area were action will come from".
Defence was an area were nothing was announced. "I think it will come in the main budget".
Aditya Shah, Founder At Hercules Advisors
The government is trying to play a Rahul Dravid type of innings, consistent and disciplined, Agarwala said.
The infrastructure spending was a key point. "Nothing to get excited about and nothing to get disappointed about".
"Government is very clear and saying, we have done our part of capex now the private players and the state government have to come".
"In the coming budget the government should give incentives to the manufacturing, auto components, mobile manufacturing space".
Budget 2024: Sitharaman Offers Relief On Old Direct Tax Disputes Of Up To Rs 25,000
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.
Read the full story here.
Stock Market Live: Nifty, Sensex Fall As ICICI Bank, L&T Decline Ahead Of Budget; Paytm Sinks 20%
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