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Money seems to be gravitating to companies where cash flows are more visible: Mithun Aswath
"I think the markets obviously in India have remained quite buoyant. But we've seen quite a bit of rotation happen through sectors as well. So currently, what we're seeing is money seems to be gravitating to companies, where cash flows are more visible, and the growth outlook is more certain. So, spaces such as domestic related consumption plays and auto, as well as the financials seems to be pockets where there has been outperformance primarily, because the visibility has been quite solid there," says Mithun Aswath, Managing Partner at Kivah Advisors. "While companies which are more global facing sector such as IT as well as metals and other commodities have borne the brunt of the correction. So, I think it's been a market where you continue to try to monitor spaces where the risk reward opportunity is improving. So for example, a couple of weeks ago, the IT stocks had come down quite considerably and there were signs of bottoming out there. So, sometimes whenever we see there is volatility, there are opportunities to add on to some of these spaces as well."
Sensex and Nifty end at record close for second straight session
-- FMCG pack saw all-round gains with the sectoral index rising two percent
-- HUL is top nifty gainer with four percent move, Britannia and Nestle amongst gainers too
-- China’s unlock plan lifts metal stocks, JSW rises two percent, Tata Steel up one percent
-- Cipla gains nearly two percent after company launches advanced prostate cancer drug
-- IndusInd, Bajaj Finserv, Coal India and Power Grid are top nifty gainers
-- Dabur’s plan to launch D2C platform triggers buying, stock up over six percent
-- Bandhan Bank gains more than four percent following an upgrade by CLSA
-- Laurus Labs falls nine percent after Kotak Institutional equities downgrades the stock to sell rating
-- AB Cap, ICICI Pru, Union Bank, Marico, Lupin are top midcap gainers
-- Indian Hotels, ABB, Vednata, Tata Comm, Nippon Life are top midcap losers
-- Market breadth favours declines, advance-decline ratio at 4:5
Bullish on Uniparts India: Manish Khanna
"Unipart India is an international producer of engineering systems and solutions. Due to its presence in 25 countries, it is one of the top suppliers of systems and components for the off-highway industry in the agricultural and construction, forestry and mining, and aftermarket sectors," says Manish Khanna, Co-Founder, Unlisted Assets. "The company's revenue increased significantly this fiscal year. Its EBIDTA and PAT have risen steadily over the past three years. Comparing the company's Return on Net Worth (%) to rivals like Balkrishna Industries and Bharat Forge, etc., it is substantially greater. We are bullish on Uniparts India due to elements such a consistent increase in revenues, a healthy increase in profits, a good runway for expansion, and fair pricing," Khanna adds.
Uniparts' IPO opens tomorrow.
Britannia enters into a joint venture agreement with Bel SA, France
Britannia Industries will sell 49 percent stake in its wholly-owned subsidiary Britannia Dairy Pvt. Ltd. as part of its joint venture agreement that it signed with French company Bel SA on Tuesday. (Read more)
Buy Dr Reddy’s Laboratories, sell Dixon Technologies: Sacchitanand Uttekar
Here are two recommendations by Sacchitanand Uttekar of Tradebulls:
-- Buy Dr Reddy’s Laboratories (DRL) for a target of Rs 4,560 with a stop loss at Rs 4,460
-- Sell Dixon Technologies for a target of Rs 4,200 with a stop loss at Rs 4,394
Aditya Birla Fashion Retail was a very good performer in this calendar year: Rahul Sharma
"We have identified a list of stocks, especially from the midcap space, which can be bought at these levels. One is Aditya Birla Fashion Retail, the stock was a very good performer in this calendar year. The recent correction, which has come up from Rs 350 odd levels to Rs 300 odd makes it very attractive at these prices," says Rahul Sharma, Head-Technicals & Derivatives Research at JM Financial Services. "Then from the PSU pack, which is the flavor of the market as of now, Container Corporation (CONCOR) looks like a very formidable bet at these levels. You have Poonawalla Fincorp from the non-banking financial companies (NBFCs) space, which is also poised well, and from the castings and forging business Bharat Forge is something that is coming out of multi-month consolidation. So this stock has possibly another 20 percent upside from these levels."