Nestle India reported a 2.25 percent rise in its net profits for the quarter ended December, while its revenue grew some 9 percent. Deven Choksey of KRChoksey continues to hold the stock.
He believes any correction in the price of IndusInd Bank would be a welcome correction because he expects the stock to go into a rerating mode in the future.
According to him, Tata Consumer is acquiring Big Basket with a good enough valuation. “They have the right strategy going forward if you want to expand from the space wherein you have the presence both in the digital as well as in the physical stores. So it sounds good. The outlook looks promising as far as the approach is concerned. This is a significant move and should result in rerating the company going forward,” he said.
Choksey believes public sector undertakings (PSUs) always hold huge potential.
“Most of the PSUs are having a good run. As long as there is momentum, some of these PSUs could give a decent rate of returns for the traders,” he said.
As far as metal commodities are concerned, he expects a bull run. He said: “Cyclicals are always dangerous to buy at a higher level. I would rather prefer to see if there is any correction in the price for any reason, that could be a time to look into. Underlying assumption doesn’t change as far as the outlook on the metal is concerned, and the price scenario is concerned.”
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(Edited by : Yashi Gupta)
First Published: Feb 17, 2021 9:50 AM IST