Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 extended gains to a third straight day on Thursday, backed by buying across most sectors.
I think this move will be limited to the time when we see the Q3 results in early January but after that, I think we could see some correction.
“This is quite a profitable mutual fund and you have an AUM of about Rs 4.4 lakh crore as of September, and this AUM grew about 23 percent YoY.
We should see levels of about Rs 2,800 – although we have seen the stock about Rs 3,000 but I’m keeping a target of Rs 2,800,” he added.
IT has gone out of favour and then it is coming back slowly; people are coming back into TCS, Infosys and Wipro.
As long as we are able to deliver and with all the companies needing AI, they are coming to us, and that business is going to come.
At a time when the market is gripped by the IPO fever, Securities and Exchange Board of India Chairman Ajay Tyagi said that the interest of investors must be protected during primary listings.
I am fairly conservative and the peak at which we sit today, notwithstanding the little bit of correction we have witnessed in the last month or two, I would lean more towards safer investment classes possibly debt, things with a sovereign guarantee, tax free bonds, gold and a small amount of allocation to equity, and probably build a conservative portfolio at the current juncture when things are quite expensive from a valuation or a multiple standpoint.
GAIL’s board gave nod to an interim dividend of Rs 4 per equity share for FY22, according to a regulatory filing.
Shares of Supriya Lifescience, whose initial share closed last week, will list on the bourses on December 28.
GMR Power Infra, GMR Infrastructure and GMR Power & Urban Infra will apply to the tribunal for directions necessary to implement the scheme.
Technical indicators such as the Directional Movement and Average Directional indices indicate the bulls to be in control.
Shares of Jubilant FoodWorks rose as much as 5.5 percent on Thursday as Morgan Stanley’s upbeat commentary cheered investors.
Market size is big, expect it to be Rs 2 lakh crore by the end of 2025.
There are unlock trades – there are interesting stocks, Jubilant is one of them, I would go with my favorites – Delta Corp, which I believe should come with wonderful numbers for the quarter.
Gold is steady as the recent hawkish commentary from the US central bank has kept the price rise in check, he said.