Stock Market LIVE Updates: Indian equity benchmarks BSE Sensex and NSE Nifty50 suffered deep cuts on Wednesday amid a global sell-off, triggered by concerns about world economic growth.
Patanjali Keswani, Chairman and Managing Director of Lemon Tree Hotels, is of the view that the hotel sector will see price hikes to the tune of at least 20-25 percent across the country in the next six months.
“We’ve seen over the last couple of decades, if not longer, tremendous wealth creation including in our portfolios from the private sector financial stocks and it’s not like a basket approach – when I say private sector financials, it is a fairly select approach and that continues to be so.
What you need to look at is to make sure is that in the growth curve, the business and the valuation metrics, you need to pick companies that continue to grow so that the valuation reset is justified because there are expensive companies as well,” he says.
R Venkatraman of IIFL Securities tells CNBC-TV18 the company added about two lakh new accounts in the Jan-Mar period, as against about 2.5 lakh in the previous three months.
The market has teased both the bulls and the bears today, with the Nifty50 gyrating in a range of 152.3 points, between 16,958.5 and 17,110.7, following a gap-down start.
Among heavyweights, Bajaj Finance, ICICI Bank and Infosys continue to pull the headline indices lower, though TCS, Asian Paints and Tata Steel keep the downside in check.
However, key for Rainbow would be sustained current growth trajectory amid increased consolidation in the healthcare space, and the margin profile,” according to the brokerage.
He also said significant retail participation is expected in the IPO of the insurance behemoth.