Gaurav Garg, Head of Research at CapitalVia Global Research feels Nifty Bank is likely to do well in Samvat 2078, especially after the underperformance over the last few years.
However, from hereon, sectoral rotation can be expected and current low interest rate regime might help rate sensitive stocks to do better.
Indeed, Smallcap and Midcaps have outperformed as compared to leading indices, however, investors should try to book profits at higher levels as valuations are higher and we might see some sort of consolidation over next few quarters.
Private banks, on the other hand, might surprise the Street with stellar earnings in the next few quarters as advances and NIM might improve significantly.
We expect more than Rs 70,000 crore of fund raising in the next year, which might be comparable to 2021 as investors will latch on to only those IPOs that are priced attractively and where companies operate in a comfort zone in terms of valuations.
I believe Paytm’s IPO might be a blockbuster for primary markets as initial share sale of Paytm parent One97 Communications is scheduled to hit the market on November 8 and is going to be the largest the country has seen so far after Coal India, Reliance Power and GIC.
The stock is forming reverse Head and Shoulder pattern in monthly chart showing strong demand zone in the zone of Rs 7,200-7,400. In 2022, Maruti is likely to launch WagonR in electric segment will boost overall sentiments of company.
Bharti Airtel has witnessed decent surge in average revenue per user which has now touched Rs 153 and better performance in Africa Business is also witnessed.
However, not enough data is available for GMP of Fino Payments Bank, therefore it is tough to comment for listing gains.