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Remais to be seen if valuations still attractive in some pockets: PPFAS MF's Raunak Onkar
Raunak Onkar of PPFAS Mutual Fund tells CNBC-TV18 some of the decent companies that have been trending upwards in India are cash generating-positive. Over a long period of time, such businesses have shown profitability, he says.
"Some of those companies are still valued quite expensively, or I would say reasonably. But it remains to be seen that there are some pockets where valuations are still attractive, and we have been adding them over the past few months," he adds.
Market At Close | Sensex and Nifty50 flat amid volatility
Here are some highlights:
--Headline indices fail to hold on to intraday recovery
--City gas company stocks jump 5-7 percent as panel needs more time to submit report
--Muthoot Finance jumps six percent after company signs agreement with LuLu International Exchange
--Can Fin Homes continues to fall following CEO's resignation
--MCX, Indiabulls Housing Finance, HAL, Bharat Forge and Nippon Life top midcap losers
--IDFC gains four percent following 50 percent stake sale in Delhi Integrated Multi-Modal Transit
--SBI Cards rises four percent as company's credit card business outperforms industry in August
--PowerGrid gains two percent after government rejects proposal to acquire REC
--Market breadth slightly in favour of the bulls — advance-decline ratio at 3:2
Banking, consumption we remain to be positive: Dharmesh Shah
"Stocks like State Bank of India (SBI) or in the private segment, Axis Bank, HDFC Limited, HDFC Bank and Bajaj Finance should do good from the current level. So overall, banking, consumption we remain to be positive. Asian Paints, Titan are other stocks which have been relatively outperforming even in this current fall," Dharmesh Shah, ICICI Securities told CNBC-TV18.
"IT again an oversold territory so technical pullback cannot be ruled out for IT also. So except metals are the ones, which seems to be quite vulnerable even at the current levels. Most of the sectors should see a contribution from the current levels," Shah said.
Shah suggests buying Reliance at Rs 2,390-2,400 with a target of Rs 2,580-2,600.
Authorities say Nord Stream 1 gas pipeline hit by two leaks in Baltic Sea: Report
In the Baltic Sea, two leaks have been discovered on the Nord Stream 1 Russia-to-Europe gas pipeline, hours after a similar incident on its twin pipeline, reported news agency AFP. (Read more | Learn what Nord Stream 2 pipeline is)
Oct-Dec 2022 to reflect selling of bad loans and reduction in balance sheet stress: Yes Bank CEO
Yes Bank MD and CEO Prashant Kumar tells CNBC-TV18 that the financial results for the Oct-Dec 2022 period will recflect selling of non-performing assets (bad loans) and reduction in stress on balance sheet.
“The whole transaction...assignment of the loans would happen within 60 days. So by November-end, and then December quarter numbers should reflect this part,” he says.
Dish TV in focus
The stock had tanked earlier in the session after shareholders rejected four of the six resolutions at the company's annual general meeting held on September 26. (Read more)
Power Grid shares touch an intraday high of over 3%
Sources from the Finance Ministry told CNBC-TV18 that there is currently no proposal to have Power Grid acquire PFC's stake in REC. The Power Minister is likely to issue a clarification on this soon. (Read more)
Buy Dr Lal Pathlabs, sell Coal India: Sacchitanand Uttekar
Here are two recommendations by Sacchitanand Uttekar of Tradebulls:
-- Buy Dr Lal Pathlabs for a target of Rs 2,540-2,660 with a stop loss at Rs 2,380
-- Sell Coal India for a target of Rs 208-202 with a stop loss at Rs 221