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There is some more upside that can be expected (in Tata Motors), according to Gaurav Bissa, associate vice president at LKP Securities.
I’m not saying it’ll fall right away. But I would be cautious at these levels. The support is at levels of 130-132. For the long-term, the picture is still not very strong.
In a slightly uncertain global environment, I don’t think exports and imports are in your control in a very material way. So, you are down to CING (consumption, investment, and government spending). With the corporate tax cuts, the government’s fiscal deficit on books is 3.9 percent and off books is probably 4.4-4.3 percent (and then you add the state). There’s not too by way of government spending that can happen. So, you are down to CIN,” Arora said.
“Corporates will only invest when there’s demand. So, you have to revive demand to start off with. That’s where personal income taxes come in. The big theme is going to be to put money back in the hands of people so that they go out and start consuming. There’s probably a consensus that’s building up and why some auto stocks have started to do really well over the past month or so. I am far more optimistic in this Diwali than I have been over the last two or three Diwali,” he said.
In the mid- and small-cap space, the NSE Nifty MidCap 100 rose 1.2 percent and the NSE Nifty SmallCap 100 rose 1.18 percent.
The market breadth was tilted in favour of buyers. About 1,317 stocks advanced and 386 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Auto Index’s 1.4 percent gain.
Which sector will recover first in Samvat 2076? Rahul Shah Of Motilal Oswal Financial Services had three options. Here's what he chose.
— BloombergQuint (@BloombergQuint) October 27, 2019
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Which are the sectors whose greenshoots in Samvat 2075 could grow into handsome returns in #Samvat2076? IIFL Securities' Sanjiv Bhasin has a list.
— BloombergQuint (@BloombergQuint) October 27, 2019
Read: https://t.co/lM14L41km5 pic.twitter.com/42sPqfPyfl
Linde India
Future Lifestyle Fashions
IRCON International
Veteran investor KR Choksey believes there is one sector that can give sweet returns in #Samvat2076. #Diwali
— BloombergQuint (@BloombergQuint) October 27, 2019
Catch all Mahurat Trading updates: https://t.co/lM14L41km5 pic.twitter.com/5jwExRN6yA
#Diwali | Government's plan to cut stake in PSUs could become one of the most attractive investment themes in #Samvat2076. Turtle Star's Sunil Shah explains.
— BloombergQuint (@BloombergQuint) October 27, 2019
Catch all Mahurat Trading updates: https://t.co/lM14L41km5 pic.twitter.com/etqReNWXZG
Marico (Q2, YoY)
HDFC AMC (Q2, YoY)
Tata Coffee (Q2, YoY)
SH Kelkar (Q2, YoY)
Jubilant Life Sciences (Q2, YoY)
NRB Bearings (Q2, YoY)
Shriram City Union Finance (Q2, YoY)
Reliance Capital (Q2, YoY)
Pfizer (Q2, YoY)
Securities and Intelligence Services (Q2, YoY)
Shares of the country’s largest conglomerate rose as much as 0.96 percent to Rs 1,445.
The boards of Reliance Industries and its wholly owned subsidiary Reliance Jio Infocomm Ltd., in separate meetings, approved the creation of a new digital platform holding company as well as a debt restructuring.
The move will make Reliance Jio a virtually net debt free company by March 31, 2020, said a statement issued by RIL, India’s most valuable company by market capitalisation.
The Relative Strength Index was above 70, indicating that the stock may be oversold. Of the shares traded, 53 percent were at the ask price and 21 percent were at the bid.
Q2 Results: One-Time Tax Expense Hits ICICI Bank’s Bottomline In Q2
Q2 Results: Tata Motors’ Loss Narrows, Plans To Raise Rs 10,000 Crore
Indian equity benchmarks began Samvat 2076 on a positive note.
The S&P BSE Sensex rose 0.7 percent to 39,323 and the NSE Nifty 50 rose 0.6 percent to 11,650. The broader markets represented by the NSE Nifty 500 Index rose 0.67 percent.
The market breadth was tilted in favour of buyers. About 1,048 stocks advanced and 336 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Auto Index’s 1.4 percent gain.
Indian equity benchmarks are set to open higher.
The S&P BSE Sensex rose 0.96 percent to 39,451 during the pre-market trade and the NSE Nifty 50 rose 1 percent to 11,700.
Gurmeet Chadha is optimistic going into Samvat 2076. “The government seems to be getting more active which bodes well for the market.”
A blessing in disguise will be the divestment programme of the Modi government, The CEO and co-founder at Complete Circle Consultants told BloombergQuint in an interaction.
Besides, he thinks the market is seeing the fag end of NPA cycle.
He continues to stick to his previous Samvat picks of HDFC twins and ICICI twins (bank and insurance). “Investors need to go with companies with a clear earnings growth outlook.”
Kotak
Ambit
Citi
Morgan Stanley
Ambit
Edelweiss
Marico (Q2, YoY)
HDFC AMC (Q2, YoY)
Tata Coffee (Q2, YoY)
SH Kelkar (Q2, YoY)
Jubilant Life Sciences (Q2, YoY)
NRB Bearings (Q2, YoY)
Shriram City Union Finance (Q2, YoY)
Reliance Capital (Q2, YoY)
Pfizer (Q2, YoY)
Securities and Intelligence Services (Q2, YoY)
In Charts: How India’s Stock Market Fared In Samvat 2075
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