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Prakash Diwan on Tech Mahindra, private banks & Reliance pay cut reversal

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Market expert Prakash Diwan said he is positive on Tech Mahindra from both a short and medium term perspective.

Market expert Prakash Diwan said he is positive on Tech Mahindra from both a short and medium term perspective.
“If Tech Mahindra doesn’t open up significantly higher, it will be a great stock to buy for the short term,” Diwan told CNBC-TV18. “All vectors are aligning towards rerating of the stock, which would take it much higher. So I am quite positive from a medium-term perspective as well as from a short-term view,” he said.
He added that Reliance’s decision to reverse its pay cut retrospectively could be a turning point of sorts and a signal for other companies to follow suit.
Diwan also talked about private banks, including speculation over Kotak Mahindra Bank’s interest in IndusInd Bank, and said he was positive on ICICI Bank and HDFC Bank.
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Disclosures: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Market Movers

CompanyPriceChange%Gain
Adani Ports694.35 47.45 7.33
Bajaj Auto4,167.10 113.20 2.79
HUL2,482.90 65.20 2.70
Bharti Airtel538.75 10.10 1.91
Grasim1,480.75 22.55 1.55
CompanyPriceChange%Gain
HUL2,480.75 63.85 2.64
Bajaj Auto4,164.95 105.95 2.61
Bharti Airtel538.90 10.20 1.93
Bajaj Finserv11,998.00 179.95 1.52
IndusInd Bank994.90 10.65 1.08
CompanyPriceChange%Gain
Adani Ports694.35 47.45
Bajaj Auto4,167.10 113.20
HUL2,482.90 65.20
Bharti Airtel538.75 10.10
Grasim1,480.75 22.55
CompanyPriceChange%Gain
HUL2,480.75 63.85
Bajaj Auto4,164.95 105.95
Bharti Airtel538.90 10.20
Bajaj Finserv11,998.00 179.95
IndusInd Bank994.90 10.65

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