Thank you, readers! That's all from CNBCTV18.com's live market coverage on July 13, 2022. Stay tuned for other updates on our website: CNBCTV18.com.
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Concerns remain for power or energy sector-specific businesses: Raunak Onkar
Raunak Onkar, Co-Equity Fund Manager and Head-Research at PPFAS Mutual Fund, tells CNBC-TV18 that concerns remain for power or energy sector-specific businesses.
"We entered PowerGrid a few months back, and then we added Coal India. Overall, for a long period of time, we have seen under-investments in some of the thermal assets in our country and that has continued to create some strain in terms of power demand," he says.
"Although renewable might be the future, it's interesting to see when the thermal actually becomes less of a operating issue for our country and becomes renewable over a long period of time. Until we solve storage and transmission solutions, I think thermal power is here to stay for a long period of time," he adds.
Mindtree's profit exceeds Street estimates as revenue growth helps IT firm expand margin
Mindtree reports a net profit of Rs 471.6 crore for the April-June period, exceeding Street estimates, with a 30 basis-point sequential increase in its margin.
The increase in margin — a key measure of profitability — is in contrast to the trend in the IT sector, where elevated employee costs, thanks to worsening attrition, are eating into their ability to generate profits. (Read more on Mindtree results)
Market At Close | Banking stocks lead losses
Here are some highlights:
--HDFC twins pull headline indices lower
--Energy stocks under pressure — Adani Green falls nine percent
--Pharma stocks outperform — Divi’s and Cipla among top Nifty gainers
IndusInd recovers nearly four percent from day's low
--HCL Tech falls over one percent after weaker-than-expected earnings
--Market breadth in favour of the bears — advance-decline ratio at 1:1
Realty sector quite attractive: Gaurav Ratnaparkhi
Gaurav Ratnaparkhi, Technical Analyst at Sharekhan, finds the realty sector quite attractive on Dalal Street. "If we look at the Nifty Realty, it has formed an ending diagonal pattern just panning from March till June 8, and towards the end of June it has given breakout from that pattern. So it has resumed its larger uptrend and if we deep dive into this space," he says.
"Nevertheless, Godrej Properties is also having a decent structure. It has strong support near Rs 1,150-1,200. So, there is no reason to completely get out of Godrej Properties, but I think he should shift 50 percent of his exposure from Godrej Properties to Lodha, because it is expected to outperform from medium to long-term perspective," he adds.
Buy Dr Reddy's Laboratories, Tata Consumer Products: Aditya Agarwala
Here are two recommendations by Aditya Agarwala of Invest4edu:
-- Buy Dr Reddy's Laboratories for a target of Rs 4,650-4,700 with a stop loss at Rs 4,450
-- Buy Tata Consumer Products for a target of Rs 780 with a stop loss at Rs 755