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Indiabulls Real Estate giving fair value: Prakash Diwan
Market expert Prakash Diwan is of the view housing finance businesses might take some time before they start to draw the attention of long-term investors. However, he finds Indiabulls Real Estate interesting. "That attractiveness is there on the Indiabulls Real Estate side, not necessarily on the housing finance business,” he adds.
Every sharp drawdown in market interesting time to pick up investments: InCred AMC's Mrinal Singh
Mrinal Singh, CEO and CIO of InCred AMC, believes every sharp drawdown in the market is an interesting time to pick up investments. "The outlook for Indian economy is obviously quite robust, particularly in the segments driven by the capacity expansion side. We would keenly observe and pick up potential investments in that space and that is what we are kind of doing. Market turbulence is something that offers us interesting prices from a long-term perspective. Longer-horizon investors would obviously be keen to make the most of it and we are no different from them," he says.
Bharti Airtel signs pact with Vodafone for stake buy in Indus Towers
Bharti Airtel enters into an agreement with Vodafone to buy 4.7 percent equity in Indus Towers.
Earlier in the day, Bharti Airtel ended 2.6 percent higher, Vodafone idea rose 6.7 percent and Indus Towers 4.1 percent.
Positive on IndiaMART fundamentals, superb platform for SMEs: Dipan Mehta
Dipan Mehta, Director at Elixir Equities, is positive on the fundamentals of IndiaMART, which he thinks is a superb platform for SMEs to showcase their products and services.
"There had been a lot of stagnation in last two years because of the pandemic but now as MSMEs are going out in full vigour, advertising and subscription revenues should go up on IndiaMART. Although valuations are on the higher side, they are not completely out of whack considering the kind of growth rates that this company can display and has displayed in the past," he says.
Market This Week | Sensex, Nifty50 slide 3%
Here are some highlights:
--Biggest weekly fall of the year for Nifty50, Nifty Bank
--All sectoral indices post losses this week, indices down 2-8%
--Volatility index up over 21 percent; biggest weekly gain in 3 months
--46 of 50 Nifty stocks fall; BPCL, UPL, Grasim top losers
--Indiabulls Housing, Indus Towers, Rain Industries, Dalmia Bharat top midcap losers
--Dixon Tech, Crompton Cons, Abbott, Astral, USL top midcap gainers
Market At Close | Sensex, Nifty50 recovers half of previous day’s losses
Here are some highlights:
--Sensex, Nifty50 break 7-day losing streak
--Midcap index clocks biggest gain in 2 years
--Volatility index falls 16 percent
--BSE-listed companies’ market cap increases by more than Rs 8 lakh crore (they had lost Rs 13 lakh crore on Thursday)
--Except Britannia, all Nifty stocks in the green
--Coal India, Tata Motors, Tata Steel, Adani Ports, IndusInd top Nifty gainers
--Tata Motors regains almost all of previous day’s losses, up 7 percent
--NBCC, PNB, DLF, Dixon, Rain Industries, JSPL, BHEL top midcap gainers
--PFC, HPCL, Dr Lal, Metropolis, Nippon slip
--Market breadth in favour of bulls; advance-decline ratio at 6:1
Closing Bell | Sensex up 1,329 points, Nifty tops 16,650
Both headline indices rise after seven back-to-back sessions of losses. The 30-scrip index up 1,328.6 points or 2.4 percent at 55,858.5 and the broader Nifty50 benchmark settles at 16,658.4, up 410.5 points or 2.5 percent from its previous close. (Read more on the closing bell)
Buy Kotak Mahindra Bank, Tech Mahindra: Hemen Kapadia
Here are two stock recommendations from Hemen Kapadia of KRChoksey Securities:
--Buy Kotak Mahindra Bank for a target of Rs 1,895 with a stop loss at Rs 1,835
--Buy Tech Mahindra for a target of Rs 1,430 with a stop loss at Rs 1,370
PNC Infratech declared lowest bidder for NHAI project worth Rs 885 crore:
PNC Infratech has been declared the L1 (lowest) bidder for an NHAI Project of 32.98 km long, four laning of Mathura Bypass to Gaju Village section of NH 530B in the State of Uttar Pradesh, to be executed on Hybrid Annuity Mode for a Bid Project Cost of Rs 885 crore, company said in its release.