#Nifty, #Sensex edge higher on gains in #HDFCBank, #Infosys, #HUL.
Niraj Shah and Tamanna Inamdar dissect key market trends and explore what's to come tomorrow. #NDTVProfitMarkets #NDTVProfitLive
Niraj Shah and Tamanna Inamdar dissect key market trends and explore what's to come tomorrow. #NDTVProfitMarkets #NDTVProfitLive
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01:20 - Good afternoon and thanks for tuning
01:33 into India Market Close.
01:34 And let's pull up the markets
01:36 to see how likely we are to close.
01:39 Well, I must say from the start of the trading day,
01:42 led by HDFC Bank in the first one hour,
01:46 we've had actually a pretty good pullback.
01:49 Pull up the bank Nifty,
01:51 and you will see what I'm talking about.
01:52 There was a painful period at the start,
01:56 which got absorbed a little.
01:59 We're still in the red, but not as bad.
02:02 And you will see what I'm talking about
02:03 when you see the intraday chart,
02:05 or just see the mid cap and the small cap indices
02:07 as well once, or pull up the intraday chart,
02:09 either of the case maybe.
02:10 So 1.41% for the mid cap and the small cap index,
02:14 which started a bit sluggish,
02:16 is also about one and a half percent higher.
02:19 Can you pull up the heat map
02:20 and show you what's moving
02:22 at the large cap end of the market?
02:24 Remember when we started off,
02:25 Axis was weak, ICSA Bank was not,
02:29 and HDFC Bank was.
02:30 Now we know that the bank Nifty pressure
02:33 is coming predominantly because of ICSA Bank,
02:36 but HDFC Bank has recovered some bit of lost ground.
02:39 That aside, some bit of pressure on Adani Ports,
02:42 HDFC Life, and TCS a bit of a lone ranger in the IT Bank.
02:47 What's done well?
02:48 Well, likely because of the Chinese market gains
02:52 or a belated reaction to some stocks of stimulus,
02:56 but Hindalco, Tata Steel,
02:59 a bit of a flavor of metals there.
03:01 And the reason why I said that TCS
03:02 is a bit of a lone ranger,
03:03 because if you look at what's happening to an HCL Tech,
03:07 with about a 2.6% up move,
03:10 Tech Mahindra, two and a half percent
03:12 ahead of the numbers as well.
03:14 And LTI at some point of time was trading in the green,
03:18 was also looking pretty thin.
03:20 And lastly, the flavor to pharmaceuticals,
03:24 which was given yesterday by Cipla and Sun Pharma,
03:28 is now being taken over by Dr. Reddy's,
03:30 which is the second best performing stock on the index
03:33 with 3.74% gains.
03:35 But, Tamanna, I guess one can't take their eyes off
03:39 the media pack.
03:40 - Absolutely, and in fact,
03:43 our stock of the day is the same one as yesterday, Neeraj.
03:47 And what a turnaround in fortunes that we've seen.
03:49 We're talking about Zee Entertainment,
03:51 that stock was 32% down.
03:54 Not that it's recovered even half of that,
03:56 but that stock about seven, seven and a half,
03:58 8% up, nearly 8% up.
04:00 No real news flow there, except for a letter surfacing
04:04 that Subhash Chandra wrote to the finance ministry
04:07 on the 16th of Jan, where he said that SEBI's behavior
04:12 should be looked into,
04:14 and why has the latest summons talked about
04:16 all the board members of Zee,
04:19 but why that would really impact the stock seems unclear.
04:24 Other interesting plays that we can talk about,
04:27 Axis for sure, and though Neeraj mentioned it as well,
04:32 there are at least four brokerage reports
04:34 who have a buy call on Axis,
04:35 but the street very disappointed with the numbers,
04:38 that stock about 3% down,
04:39 along with some in the BFSI space.
04:43 Nazara was one that I pulled up,
04:44 because I found this to be an interesting announcement.
04:48 They are going to be buying Comic-Con India
04:50 for about 27 crores.
04:53 Remember, Nazara has had investors
04:55 in the form of the Kamal brothers also coming in.
04:58 So that perhaps is one to look out for.
05:02 REC and BFC are the others.
05:04 Just look at REC, and this also a beneficiary
05:06 of the Pradhan Mantri Suryodaya Yojana,
05:09 the solar panel on rooftop scheme.
05:13 REC has been fed as the nodal agency for this,
05:16 and will be providing financing for this scheme,
05:19 and you're seeing both of them doing fantastically well
05:22 in today's trade.
05:23 But overall, I would say, Neeraj,
05:26 this is a day of recovery.
05:27 After a tough day yesterday,
05:31 a bit of a shaky start this morning,
05:32 and then you're seeing a pretty good recovery.
05:34 - And just before we talk about what's happening
05:38 at the real estate end of the market with Purvankara,
05:41 and Tamannaah will do that in a moment,
05:43 just want to mark a couple of names
05:47 which, because of this green energy push,
05:50 have had a good run the last few days.
05:53 And just take a minute there.
05:55 So one of them is Vari Renewables,
05:56 and that stock, in addition to the PFC, RECs of the world,
06:00 has done very well for itself.
06:01 So up about 5%, if I'm not wrong, Vari Renewables,
06:04 so that's one, so keep that in mind.
06:07 Up another 5% today, on pretty decent volumes, I might add.
06:10 The other one is Purvankara,
06:11 and Purvankara has had a really good run
06:13 in the session today.
06:15 Remember yesterday, the real estate space
06:16 really got clobbered.
06:22 I was hurting from the term and I couldn't get it.
06:25 So clobbered was the right term,
06:26 and real estate pack got really clobbered in trade yesterday,
06:28 but Purvankara has come out smelling really, really well,
06:31 and on pretty good volumes,
06:33 I might add Tamannaah 3.5% higher.
06:35 - But that's because of the numbers,
06:36 and we have Abhishek Kapoor,
06:38 Group CEO of Purvankara, speaking with us about it.
06:41 Just to quickly take you through the numbers
06:43 before I get to you, Abhishek,
06:45 and great to have you on NDTV Profit.
06:47 Welcome this afternoon.
06:49 So revenue's up 46% year on year.
06:53 These are consolidated figures.
06:54 The EBITDA is up nearly 80%.
06:57 Margins have improved by 639 bps,
07:01 and net profits are up massively at this point as well.
07:06 So, you know, we're wondering what really is happening
07:10 and what is working for Purvankara.
07:12 So let me start with that opening statement
07:14 from you, Abhishek.
07:15 What has worked this quarter,
07:16 and are we seeing a base effect
07:19 play out here, or have you really seen
07:21 such a spectacular quarter?
07:23 - Tamannaah, thank you for having me on the show.
07:27 So, you know, really, this is more about
07:29 accounting for the business that we have been doing.
07:32 In fact, when we look at our business,
07:34 we look at the kind of pre-sales,
07:36 the kind of operating surpluses we have generated,
07:39 and where are we going with the cash flows.
07:41 And if you look at all those three counts today,
07:45 we have done very, very well.
07:46 Our sales, pre-sales numbers are up by about 89%.
07:50 Our cash surplus is at about 822 crores,
07:54 and our net operating, as in the margin,
07:58 which we have got operating surplus,
07:59 is up by 101% versus the previous year.
08:03 What you are seeing are on account of deliveries.
08:06 This is what has been already sold and constructed.
08:10 So, you know, I think it's more to do with
08:13 how much we will deliver.
08:14 In fact, in the next quarter,
08:15 we are working towards getting the OC
08:17 of about 2000 apartments.
08:19 Those will also start getting delivered.
08:21 So, this is basically all the business we have done
08:23 is coming to the books now.
08:25 - So, you're seeing sort of business coming to the books
08:29 with a bit of a lag effect.
08:30 So, then let's look at the outlook, Mr. Kapoor,
08:34 and where you're seeing that demand grow.
08:37 The large narrative has been that you're seeing demand
08:40 in the luxury segment, in the upper end segment.
08:44 Has that been your experiences yet?
08:46 And can you talk about what kind of strategy you have,
08:50 what's in the pipeline?
08:51 - Look, what we are seeing is consistent demand
08:56 across our mid-income to luxury category
08:58 and plotted development.
09:00 Currently, if you look at the contribution,
09:03 about 53% of the business out of 3,967 crores
09:08 come from Purvantra, 35% from Provident,
09:11 and the balance 12% from Purvalat.
09:14 Having said that, this is more on account
09:15 of how much inventory or launches each of these brands
09:18 have been able to bring to the market.
09:20 At this point, the way we are seeing it,
09:23 it is very homogeneous, the demand,
09:25 and we believe that going forward,
09:27 all of the launches that we are looking at doing
09:29 under all three brands will do very, very well
09:31 because that's how the market is currently.
09:34 If you look at our sustenance numbers,
09:36 I mean, what we were selling last year
09:37 versus what we are selling this year on ongoing projects,
09:40 even those have gone up.
09:41 So what it's showing is that the demand is homogeneous,
09:45 and I believe that that demand will continue.
09:48 - Purvalan, which is your affordable segment,
09:50 has seen a bit of a dip, isn't it?
09:53 Are you thinking or are you worried
09:55 that that will deepen?
09:58 You'll see a bit of demand erosion there?
10:00 - Not at all.
10:02 In fact, what we are seeing is that
10:05 we need to bring more product to the market,
10:07 and the dip is only because of lack of inventory.
10:10 As long as we can bring in more product to the market,
10:13 I believe that we'll be able to sell.
10:16 In fact, in this quarter,
10:17 we will do more volumes in Purvalan
10:20 because we will launch a project in Bangalore,
10:22 which is a plotted development,
10:23 and another one, we'll open another phase
10:25 in the Chennai project.
10:26 So between these two and ongoing another one project
10:31 in Chennai again, we should see good numbers in this one.
10:34 - All right.
10:35 Talk to us about pre-sale guidance for FY25,
10:40 and what are you looking at in terms of the H2 number
10:44 in actual unit deliveries?
10:46 - As far as delivery is concerned, as I mentioned,
10:51 we've already delivered 1400 plus units.
10:54 We will get OC of another 2000 plus units,
10:57 and we are gonna push hard to do as much delivery
10:59 as possible in the last quarter,
11:01 and some may spill over to the first quarter
11:03 next financial year.
11:04 So that's as far as delivery is concerned.
11:06 As far as launches are concerned and the forward guidance,
11:09 we don't give really guidance on the numbers,
11:12 but what I can say is what we have seen in the past
11:15 is pretty much what is expected to continue in the future
11:18 in the sense that we have, as I mentioned earlier,
11:20 grown by about 89%.
11:22 If you look at a nine month period,
11:24 we were at 2100 crores.
11:26 This year, we are at 3967 crores.
11:30 For the last quarter,
11:31 we believe we'll be continuing the push.
11:33 We will open 4 million square foot in line with our,
11:36 you know, what we had projected in the beginning of the year
11:38 in terms of square footage.
11:40 We had planned to open about 7 million square foot in all.
11:43 Of the 15 million, which we were getting sanctions for,
11:46 we will end up opening about 8 million of the 12 million,
11:49 which we'll get sanctioned for before 31st March.
11:52 So we're quite confident that we'll continue
11:54 to push the numbers higher.
11:56 As far as FY25 is concerned,
11:58 I think we will give a kind of launch pipeline
12:01 for 25 in the April quarter once we finish March.
12:05 But obviously the plan is that we'll continue to perform
12:08 and grow the numbers beyond what we achieve in this year.
12:11 - Okay, so just to clarify,
12:13 your 2500 units delivery target in H2 is on track?
12:18 - Very much, you're right.
12:20 - All right, just one last question
12:21 before we let you go, Mr. Kapoor, is,
12:23 you know, we're talking about a new cycle in real estate,
12:28 a three to five year or maybe a 10 year horizon cycle.
12:31 Are you seeing that happening
12:33 in terms of actual demand on ground?
12:38 - Look, you know, in the previous cycles that I have seen,
12:41 I've seen there's a lot of investor demand that comes in.
12:44 Currently what we are seeing is absolutely end user demand,
12:47 and that's very, very encouraging
12:49 because these are customers who are not coming
12:51 and buying multiple apartments.
12:53 These are customers who are buying for end use.
12:54 I think that brings in a lot of depth to the demand.
12:58 What we believe is the current economic activity
13:00 will continue to bring in this kind of sustained demand,
13:04 at least for three to five years,
13:06 we don't see any challenge for sure.
13:08 It could be longer.
13:09 I think economy is doing well,
13:11 and I am quite hopeful that this will continue
13:14 and the industry will do much, much better
13:16 in the coming three to five years.
13:17 I think we're in a long cycle.
13:19 - Okay, we think so.
13:21 You know, Abhishek Kapoor of Purvankara
13:23 thinks we're in a long cycle.
13:24 Thank you so much, Mr. Kapoor, for speaking with us.
13:26 - Thank you.
13:27 - This afternoon, that threefold profit growth
13:29 you're seeing is because of inventory sales,
13:33 flats is finally landing on the books this quarter,
13:36 so which is why you might see a bit of a bump up there,
13:39 fair amount of bump up actually.
13:41 The stock nearly 10% up, 9.5% up at this point, Neeraj.
13:44 - Yeah, solid gains, and we should talk to guests about that,
13:46 but just want to mark the numbers
13:48 from Motilal Oswal Financial Services
13:50 as well on your screen.
13:51 The stock has taken a liking to it, 12.5% higher.
13:55 The interim dividend notwithstanding,
13:56 the profitability, I believe,
13:58 for Motilal Oswal Financial Services has really shot up.
14:00 We just have that interim dividend flash,
14:03 but the numbers by themselves look very strong,
14:07 and which is why the stock has gained 12.5%.
14:10 Let's get in our guests on the screen, on the show.
14:13 Vijay Chopra, MD and CEO of Enoch Ventures
14:15 joins us to talk about the fundamentals.
14:17 Ajit Mishra, SVB Research at Religio Broking
14:20 to talk about the technicals.
14:21 Gentlemen, both of you,
14:22 thanks so much for taking the time out.
14:24 A bit of a recovery,
14:25 but not so much in the bank nifty, unfortunately.
14:28 Ajit, how are you characterizing this afternoon's move
14:30 is it stability or does it still look bearish?
14:34 - Yeah, good afternoon, Neeraj.
14:37 So I feel just a bit of a cause,
14:40 Neeraj, we have tested the long-term moving averages,
14:42 200 EMA at the beginning of the trade itself.
14:47 And, you know, while the nifty is still like,
14:50 you know, at least 50 EMA.
14:52 So it's a kind of a complete contrast that we are seeing,
14:56 you know, when it comes to the nifty and banking alignment.
15:00 Good part is that, yes, you know,
15:02 since we have tested 200 EMA,
15:03 so there is a possibility that we might see some,
15:05 be there a consolidation in the banking index
15:08 and 44, 500 will continue to act as an area of support.
15:11 And the other sector basically, like, you know,
15:14 what we are seeing today also,
15:16 that IT and select index majors like L&T,
15:20 they are pushing the markets higher
15:21 and helping the index to again reclaim 20 EMA
15:24 when it comes to the nifty.
15:26 So I think it's more going to be a consolidation phase
15:29 with the bias on the negative side
15:30 until we see that nifty, you know,
15:33 constantly hold above this 21, 50 levels.
15:37 And we see some stability in the private banking majors also.
15:41 So as of now, it's just a meter I believe
15:43 that our participants should look at.
15:46 - Okay.
15:47 And are there any ideas that you're playing
15:49 with this afternoon, Ajit?
15:51 - Yeah, so stock specific, definitely we have like,
15:54 you know, pharma doing exceptionally well.
15:57 And we feel that considering this volatility,
16:00 we are not going to see this pause
16:03 in this kind of, you know, choppiness.
16:05 And especially in the growth indices, like, you know,
16:08 yesterday there was a cutoff from 3%
16:11 and today we are, you know, up nearly 1.5%
16:15 in both mid cap and small cap names.
16:16 So it's prudent that one should stay with the defensive
16:19 when it comes to the long trade.
16:20 And Dr. Reddy is one such name,
16:22 wherein we have seen a fresh, fresh formation
16:24 and the stock is set for the next, like, the up move.
16:28 The 61.50 is something that we are eyeing in Dr. Reddy's
16:31 with stop at 57.90, one can look at for fresh longs.
16:35 And at the same time, do maintain few shorts also,
16:37 considering that we are not going to see this, you know,
16:40 recovery almost vertical.
16:42 So a stock like Bata India,
16:44 where we have seen a fresh breakdown
16:47 below the previous swing low,
16:48 is offering a fresh opportunity to go short.
16:50 And so 13.30 is what we are eyeing in Bata India.
16:53 So we'll stop at 15.35 and can go short in Bata.
16:56 - Okay.
16:56 Well, we'll take an overarching view from Vijay Chopra
16:59 on the markets at large in a bit,
17:00 but Vijay, just very quickly,
17:02 I wanted to take off from where Tamanna left off
17:04 with Purvankara.
17:05 I guess you got to probably hear a part of that.
17:07 Real estate got clobbered in trade,
17:09 but selectively companies are very confident
17:11 about a long cycle.
17:12 Are you constructive on real estate?
17:14 Would you use the corrective move that we've seen
17:16 in the last two or three sessions
17:18 to add on to anything real estate
17:20 or avoid it for the time being?
17:22 - Well, I don't think the correction is as deep
17:25 as I wanted it to be for entering a fresh.
17:29 We've been recommending real estate stocks
17:32 for a long, long time.
17:33 So, TLF, TARC, some of these companies I have invested,
17:38 I have recommended time and again.
17:41 But I think that once the interest rate cycle
17:43 starts weaning down, coming down,
17:47 then we would see a real up move
17:49 in the real estate companies.
17:53 We have seen, I think that there should be some kind
17:55 of a correction even from here for me to get
17:59 into these stocks with a fresh perspective.
18:02 But yes, I think that the real estate pack
18:05 would do very well.
18:07 Interest rates are almost peaking out.
18:09 We expect that a couple of quarters down the line,
18:11 the RBI governor would definitely start bringing down
18:13 the interest rates and that would really help
18:17 real estate companies to go even further
18:20 because it's an interest rate sensitive sector, number one.
18:23 So, and most of the builders,
18:26 they have taken a lot of loan.
18:29 So, the cost of debt would come down.
18:32 The cost of debt for the investors would come down
18:35 and the end users would come down.
18:37 I'm hearing, it's not confirmed though,
18:41 that there might be something in the budget
18:43 for first time home buyers,
18:44 maybe some kind of an interest subvention, which is good.
18:47 So, overall, I would say that the real estate sector
18:51 goes in cycles.
18:52 I see another three, four years in real estate sector.
18:56 Once the interest rate cycle starts coming down,
18:59 it could be even better.
19:01 - Okay, even better then.
19:02 Take a quick break and do some more conversation
19:05 with our experts.
19:06 Stay tuned, we'll be right back.
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21:43 - All right, Gandhar Oil Refinery
21:56 is the company that we're talking to.
21:59 Their numbers, 10% uptick in revenue,
22:01 actually QOQ if you look at it that way.
22:03 Margins steady and overseas sales
22:08 actually increased in the quarter.
22:09 Aslesh Parekh, Joint Managing Director
22:11 of Gandhar Oil Joints is right now.
22:13 Aslesh, thanks so much for taking the time out.
22:16 Seems a steady quarter,
22:17 quite or nothing dramatically different per se,
22:24 a 10% number, is that something you are working with as well?
22:28 Are these numbers in line with expectations?
22:30 Aslesh, sorry, maybe you're on mute, I can't hear you.
22:38 - So sorry. - No problem.
22:40 Loud and clear.
22:42 - Perfect, sorry.
22:42 Yeah, so obviously the numbers are in line
22:44 with the expectation that has been a bit
22:47 of margin expansion compared to quarter on quarter.
22:50 The update is the overseas revenue has increased fourfold.
22:54 So we have managed to earn more than 20% revenue
22:57 and a volume growth in our overseas and export businesses.
22:59 So we got a strong demand from our customers worldwide.
23:03 We are exporting to 100 plus countries.
23:05 So we've witnessed a very strong growth there.
23:07 - Aslesh, at the start of calendar year '24,
23:12 what's the outlook?
23:13 Because I remember, or rather as I read it
23:17 from this research that my team has done
23:20 and some memory of the previous conversations
23:22 that you were expanding your capacity
23:25 to meet the possibility of rising volumes.
23:28 As you see the year ahead,
23:29 what is the kind of growth that you're pencilling in?
23:32 And are there any issues, Aslesh, on the cost front
23:36 because of what's happening across the world,
23:39 be it Red Sea or otherwise for you as a company?
23:42 - Sure, see, we had planned in capacity expansion
23:45 in both our facilities in India, in Taloja and Silvassa.
23:49 Taloja, we had planned a capacity expansion
23:50 of 100,000 kilolitres, and in Silvassa,
23:52 around 18,000 kilolitres.
23:54 The expansion is well on path.
23:57 We are envisaging to complete the expansion
24:00 as per the timeline set, and by end of this year,
24:03 the capacity would be on stream.
24:04 And the capacity expansion of this particular volume
24:08 will be obviously put to use by early next year.
24:12 And we anticipate to complete,
24:14 to take care of the full expansion in next three years.
24:18 Coming back to your second question
24:19 in terms of the headwinds,
24:21 if we are facing in front of the Red Sea
24:23 or any other challenges, to be frank,
24:25 the revenue that we've managed to gather in Q3
24:29 are strong enough, and we obviously export,
24:32 it's a substantial part of our revenue,
24:34 but we have been in a position to pass on the increase
24:36 in the freight rates to our customers.
24:38 And a few of our customers have been buying on FOB basis,
24:43 so it's really not impacted as much as it could have been.
24:47 And yes, still the focus of the company
24:49 remains on the personal care, healthcare division,
24:51 and White Oil being our star performer,
24:54 where we want to envisage a further growth of the company.
24:58 - Okay, Ashlesh, I have one final question therefore.
25:02 Would you believe your growth numbers
25:03 would be this steady state 10, 12% on the top line,
25:07 and would you be able to maintain margins?
25:09 Or with the capacities coming on stream,
25:12 you would enhance growth in FY25?
25:15 Part two of my question,
25:16 would you be able to show the same kind of return ratios?
25:20 There have been exemplary numbers on the returns,
25:22 ROC, ROE, for FY23.
25:25 Do you reckon you can maintain that
25:27 at the time that your new capacities come on stream?
25:30 - See, the idea is there is a capacity expansion
25:33 planned based on projections from the customers.
25:37 We have been in discussion with the customers,
25:39 and the customers are in requirement of additional product,
25:42 which we are planning to fulfill.
25:43 So once the capacity is put to use,
25:46 obviously the revenue would increase.
25:48 The idea is to increase the profitability as well.
25:50 And obviously with the economies of scale
25:54 coming into picture, obviously we anticipate,
25:56 we look forward for a better margin
25:58 for the coming quarters to come.
26:00 - Sorry, can I have a number there?
26:01 Do you believe 10, 12% would be the growth rate,
26:03 or do you reckon the numbers could be higher in FY25?
26:06 - See, the numbers we plan to obviously
26:08 have a bit higher number,
26:09 but difficult to give you a futuristic number,
26:11 but definitely the endeavor is to grow at a double digit.
26:16 - And at the time,
26:18 you will maintain your return ratios as well.
26:20 You had about ROC of what, 40% or percent FY23.
26:23 You can maintain that?
26:25 - The idea is to maintain, yes.
26:26 I mean, we want to ensure the return ratios are maintained
26:28 as per the expectation of our shareholders and investors.
26:33 - Okay, Aslesh, I'm afraid we'll have to leave it at that,
26:35 but all the best for the CAPEX and growth targets as well.
26:39 And thank you so much for taking the time out
26:40 and being with us.
26:42 - Thanks, thanks, thanks a lot.
26:43 - Okay, well, that's Aslesh Parekh of Gandhar Oil.
26:46 Stock hasn't done too much because to be fair,
26:49 the numbers have looked okay-ish
26:52 and nothing too dramatic.
26:55 - Flat, I would say.
26:56 - Flat, yeah, flat numbers, but strong return ratios.
26:59 Let's see if that helps.
27:00 The stock had a half decent listing.
27:02 Let's see what happens now.
27:03 - Yeah, it got caught up in the whole IPO frenzy
27:07 of late last year,
27:08 but let's get back to the markets
27:10 and the nifty above the 21,400 marker.
27:14 What a day of recovery it has also been.
27:17 And markets near their day's highs right now.
27:20 Let's go back to Vijay Chopra and Ajit Mishra,
27:23 who are with us on the show.
27:25 Vijay Chopra, let me begin with you
27:27 and your take on the kind of recovery that we're seeing.
27:30 I would say that we are in a seesaw kind of a market
27:33 and every alternate day,
27:35 you see the biggest losers come back up.
27:37 The biggest gainers are then getting hit down.
27:41 What we're seeing in media stocks today
27:42 is really astonishing to say the least.
27:45 Your public sector enterprises are back on track.
27:49 Look at your REC, PFC,
27:51 I've seen about nearly 7.5% sale in MDC.
27:54 Anything that looks like a longer term story
27:56 right now to you, Vijay?
27:59 - Well, there are certain stocks I have found out
28:02 and I think that there are good opportunities
28:05 right now as well.
28:07 Although a lot of companies have moved up quite a bit,
28:09 they look expensive,
28:10 but there are opportunities where I think
28:13 there is a lot of value
28:14 and we should look at such stocks.
28:17 If you allow me, I can name certain companies.
28:19 - Please, yes, please.
28:21 - Yeah, so first, my first pick would be Canfin Homes.
28:24 So it's backed by Canada Bank.
28:26 It's into the housing space
28:28 and we just talked to the Purvankara management.
28:30 They're quite confident.
28:31 And I think that, you know,
28:32 as I feel that once the interest rate cycle starts coming down,
28:36 the entire housing space
28:39 and the housing finance space, HFCs would do well.
28:42 So presently trading at around 750,
28:44 I think that it can go up to 850 and 900
28:47 has consolidated very well.
28:48 The management is good.
28:50 The second stock I would recommend is Symphony.
28:53 So it is trading at about 935 rupees as of now.
28:57 I think that, you know,
28:59 the summer stock should be bought in winters
29:01 and we are probably, you know,
29:03 in the midst of the peak winters
29:05 and I'm sure that, you know,
29:06 in the coming weeks it would start winning down.
29:08 So it's high time we buy a stock like Symphony,
29:11 which has a market share of over 60% in the cooler
29:14 and the cooling space.
29:16 Presently at 935,
29:17 I would recommend it for a target of 1050 and 1100.
29:21 And this would be my second recommendation.
29:24 Another conservative stock I would like to recommend
29:27 is Natco Pharma,
29:30 which is trading at around 860 rupees as of now.
29:33 It's in the pharma space.
29:34 It's to anti-cancer and the stock has corrected as well.
29:38 I think that, you know,
29:39 the financials also look very good.
29:41 The quarter on quarter growth is surely there
29:43 on the balance sheet.
29:44 So it can be bought for a target of 950.
29:47 So these are some of the stocks I'm looking at right now
29:50 and these are not overvalued according to me
29:53 and there is an upside which definitely we can't see.
29:57 Another small cap company I would like to recommend,
29:59 I've been, you know,
30:01 watching it and I've recommended it also
30:03 at the rate of 12 rupees,
30:04 is a food related company called Bestanfoods.
30:07 It's into rice and it's trading at around 17,
30:10 7 and a half right now.
30:12 The company is planning to come up with grain-based,
30:16 you know, ethanol plant,
30:18 which is going to be the largest in Gujarat
30:20 with 1000 kilometers per day capacity.
30:23 The company's top line has grown,
30:26 doubled in the last one year.
30:27 So last year they did around 600 crores.
30:30 This year is expected to do about 1200 crores.
30:33 They've already clocked 600 in the first two quarters.
30:36 So I think that, you know, this company can,
30:38 you know, do well and the stock can go up to 22, 23.
30:42 So these are a few of the counters I'm looking at.
30:44 - Bestanfoods up 4% today and at around 18 rupees.
30:48 Vijay Chopra, things can go up to 22 or 23.
30:50 Ajit, I want to get a sense from you
30:54 on what kind of plays you're looking at pre-budget.
30:56 And of course, we're seeing the revival of interest
31:00 after a small gap, I would say,
31:02 in your public sector enterprises.
31:03 You saw how one statement and one, you know,
31:07 intent on solar panels has seen a whole host
31:11 of companies run up.
31:13 What would be on top of your list right now,
31:15 if you wanted to look at it from the point of view
31:16 of a budget play?
31:17 - So Tamanna, considering that we are seeing, you know,
31:23 volatility in the market and we are in the middle
31:26 of the earning season and, you know,
31:27 despite the outperformance that we are seeing
31:31 from the US market, just a single sector,
31:33 like in a banking, it completely derailed the overall tone
31:36 that we were seeing in the market.
31:37 So instead of like, you know, being aggressive,
31:40 I feel that sticking with the sectors,
31:42 which are showing consistency in the trend,
31:45 like IT and pharma, these are the names
31:47 that I'm currently, you know, looking at
31:49 and recommending to our clients as well.
31:52 So IT majors, PCS and forces, HCL tech,
31:56 these are the preferred names alongside
31:57 with some of these pharma names like Leopin,
32:00 Dr. Riddhi's that we are currently tracking.
32:05 - Well, that's the view.
32:07 And you know what, I want to talk to Vijay a bit later on
32:09 about a couple of the ideas that he's given
32:11 in slight more detail.
32:13 But for now, just a tilt towards some of the businesses
32:18 that are going to come out with numbers
32:23 and just try and understand what the numbers
32:25 could look like.
32:26 Tata Steel and DLF expected to come out with numbers later.
32:29 Anushi Johnson with details of what to watch out for.
32:33 Anushi, good afternoon.
32:34 - Afternoon, Neeraj.
32:35 So first of all, I want to talk about Tata Steel.
32:38 Tata Steel, it seems to be a good quarter.
32:40 If you look at the street estimates,
32:42 so if you look at the revenue,
32:44 the expectation is that that might see about a 2% uptick.
32:47 This is on the back of the company expecting
32:50 an improvement in its production
32:52 as well as its India operations.
32:54 Now, if you look at the EBITDA,
32:56 they expect an increase of about 37%
32:59 to about 5,526 crores.
33:01 This is again on the back of the higher EBITDA
33:04 per ton realization that has took place over the quarter,
33:08 which will again lead to a margin improvement
33:10 to about 9.4% compared to a 7.1%.
33:15 Net profit is also expected to come back
33:17 to a profitable figure as compared to the loss
33:20 it was making last year due to the higher impairment charges.
33:25 So that is the overall scenario,
33:27 the key operation metrics.
33:30 But what we can watch out for is also the increase
33:33 in the coking coal prices,
33:34 which might offset some of the gains
33:36 that we can see in the EBITDA margins.
33:39 Again, the outlook also remains on the steel prices,
33:42 which some of the brokerages are expected to go down,
33:46 which might again lead to some of the losses
33:49 on those realizations.
33:50 Now coming to DLF,
33:52 DLF, the street estimates about a 14% uptick
33:55 in its revenue on back of the new products portfolio deliveries
34:00 that are going to happen,
34:01 which will lead to an uptick in their sales.
34:03 EBITDA, there is an expectation of about 25% growth
34:07 where the margins are expected to improve to about 35%
34:10 compared to 31% of last year
34:13 and the net profit is expected to showcase about a 40% growth.
34:17 Again over here,
34:18 I want to highlight on the pre-sales guidance of the company.
34:21 So the company had a single launch of about 7200 crores.
34:26 So if you take the whole nine-month scenario,
34:28 it showcases about 11,000 crore of pre-sales.
34:32 So the company has given a guidance of 12,000 crore
34:35 for overall FY24.
34:37 So what we should watch out for if there is any revision
34:39 in this guidance that the company has given
34:42 and along with that the new launches
34:44 that the company is expected to pick up in the Q4
34:48 of FY24 onwards
34:50 and the company's guidance of the cash flow of operations
34:53 of over 3000 crore.
34:54 So these are the some of the factors
34:57 that we can watch out for DLF.
34:59 So these two stocks would be in focus.
35:01 Thank you for that Anushi.
35:03 A lot of numbers expected just in a bit from now.
35:07 You have TVS, Bajaj Auto, Tech Mahindra, the big one.
35:11 We'll get you a sense of what you can expect
35:13 but also on the other side,
35:16 we have the top buy today, sell tomorrow idea.
35:19 We're going to tell you what to expect
35:20 from the derivatives market as well.
35:21 We're coming right back.
35:22 Stay tuned.
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38:21 - Welcome back.
38:25 As we move into a closing today,
38:27 you're seeing a very robust recovery,
38:30 I would say from the lower levels at least,
38:32 for the markets driven by your public sector counters, IT.
38:38 Bank Nifty has not recovered to the same extent,
38:40 but it is also an important day tomorrow,
38:42 maybe some trepidation there.
38:44 Agam is joining us now.
38:46 Agam, big day tomorrow in the derivative space.
38:48 You have Nifty and Bank Nifty monthly expiry
38:52 as well as weekly, isn't it?
38:54 - Yeah, it's gonna be a very tricky session tomorrow,
38:56 because we're gonna react to a whole host of earnings.
38:59 And while the Nifty has shown strength,
39:01 the Bank Nifty has been extremely tricky to trade today,
39:04 because it gave up a lot of its gains
39:06 that it had made earlier in the session.
39:08 But I'm gonna start off with the Nifty as usual.
39:10 And at the moment, even in the January futures,
39:13 despite the fact that we are looking at an expiry tomorrow,
39:15 we are looking at an increase in open interest
39:17 to the tune of 11%,
39:19 and what potentially could be made out as fresh longs.
39:22 And even as we see the Nifty once again,
39:25 edge back towards the mark of 21,500.
39:29 Well, no prizes for guessing here.
39:31 Naturally, the February futures will also see
39:33 a considerable increase in OI,
39:35 even as we start seeing rollovers come through.
39:38 Well, as far as the Bank Nifty is concerned,
39:40 as I was mentioning earlier,
39:42 while it does trade flattish at the moment,
39:45 it has been an extremely volatile day of trade
39:48 for the Bank Nifty today.
39:50 And currently, once again,
39:52 sitting slightly higher than 45,000.
39:55 We are looking at an increase here as well,
39:58 as far as your open interest is concerned in February.
40:01 Again, not necessarily in this case towards fresh longs.
40:05 But how are things stacked up as far as the Nifty is concerned
40:08 as we move into the options expiry tomorrow?
40:11 Well, no prizes for guessing here.
40:13 Again, we are looking at a lot more writing
40:15 as far as calls go, around 21,300, 21,400.
40:19 That said, we are seeing a little more
40:22 in terms of consolidation as far as the Nifty goes.
40:25 So let's pull up the open interest distribution.
40:28 And for now, we are keeping an eye on a range
40:31 between 21,000 on the lower end and 21,500 on the higher end.
40:37 That's where you see max open interest at the moment.
40:40 Let's pull up the stocks
40:42 and that's where we will be seeing a little bit more increase in OIFs.
40:46 Aurobindo Pharma, Cummins, Dabar, L&T, along with Sriram Finance,
40:50 all of them are looking at longs at the moment.
40:52 And in terms of stocks, we are just seeing unwinding
40:54 and perhaps the numbers here will be a little larger
40:57 because of the rollovers coming through
40:59 and these are January futures, mind you.
41:01 We are seeing IPCA, IPCA Labs, Metropolis,
41:04 and Jean, along with Naveen Flory,
41:06 and all of them are looking at advances in their underlying.
41:08 Safer Bosch, which is looking at a little bit of weakness.
41:12 All in all, the market breadth has improved dramatically
41:16 and certainly a big improvement
41:18 over what we've seen in the previous few days.
41:20 The question really is, can the bank Nifty catch up
41:23 with the rest of the broader markets tomorrow?
41:26 Absolutely. Well, so far,
41:29 the bank Nifty doesn't seem like it has the legs
41:33 to catch up with the rest of the market at this point.
41:38 The IT stocks are not doing too shabbily at all.
41:41 I just want to pull up a few counters that are buzzing
41:44 in your close of trade, in your small cap segment.
41:47 HFC are up about 14% this afternoon.
41:50 IDBI Bank, HATCO, Alok Industries,
41:54 just look at some of these.
41:55 Motilal Oswal, you spoke about it a little while earlier.
41:58 On the back of the numbers,
41:59 that stock is about 9.5% up.
42:02 SJVN, the renewable space,
42:04 especially your solar renewable space,
42:06 continues to buzz and shine.
42:08 Actually, Borosil renewables are about 7.5% up.
42:12 Let me go across to Ajit Mishra.
42:14 Any of these that you're tracking, Ajit?
42:16 And are you convinced about this solar renewable story
42:22 working out on the charts?
42:23 Anything that you think is worth picking up even now?
42:27 So, Tamanna, this has been like there
42:31 for most late in the month.
42:33 And especially if you talk about RFC, BFC,
42:35 they were among the frontrunners within this tally.
42:38 And I think that now,
42:42 since we are in the earnings season,
42:45 a lot depends upon the earnings announcements
42:46 and accordingly, we'll see the reaction in the stocks as well
42:49 after this tremendous performance.
42:51 And as I've been mentioning that,
42:54 the broader market looks slightly wobbly
42:57 after yesterday's decline,
42:58 though we have had these kinds of single day decline
43:02 earlier also.
43:03 But I feel that now the situation looks slightly stretched,
43:07 more stretched in the broader indices.
43:09 So keeping that in mind,
43:10 I feel that sticking with the names
43:13 wherein we are seeing constant buying.
43:15 So, Siemens is one such stock wherein we are seeing
43:18 consistency in the trend means the stock is holding
43:20 on this record high.
43:22 There was hardly any correction during this recent decline
43:24 in the index.
43:25 And it's set for the next level, the up move as well.
43:28 So Siemens is one such stock that one can impact currently
43:32 for fresh mine with the stop at 1140
43:35 and 4350, 4400 is something that we are eyeing.
43:39 Alongside with that,
43:40 Golden Consumers from the FTC space also,
43:42 we find after this recent retracement,
43:46 good enough to accumulate at the current levels
43:50 and 1230 is something that we are eyeing in the near future.
43:53 So, whether CP can also be bought with stop at 1135.
43:58 Okay, Vijay, what have you thought about this,
44:02 the PM Modi's tweet and the scheme and whether there are,
44:07 let's say for somebody who's thinking about the next 24 months,
44:11 are any of the solar plays,
44:14 whether the power plays themselves or financiers or ancillaries,
44:20 good enough investment plays?
44:23 Well, first things first,
44:24 I think that this is a good initiative,
44:26 if at all it can be implemented because,
44:27 you know, a lot of things which happen in the government lexicon
44:32 doesn't get actually converted into actual,
44:37 you know, it never gets converted.
44:40 So I will say if it does,
44:41 we have a good sunlight for about eight,
44:45 nine months in a year.
44:47 So that can definitely be,
44:49 you know, used to a great extent. One power company,
44:54 which I think has not moved up that much and has a wonderful lineage is CG Power.
44:59 It is from the Murugappa Group, presently trading at around 445,
45:03 444. And I think that,
45:07 you know, this company has the potential of going up to maybe 600,
45:10 650 because it is a consistent growth player.
45:14 You know, since the management has changed hands,
45:17 you know, the stock was below 100 a few years back,
45:21 three, four years back. And from there it has, you know, maybe quadrupled.
45:24 I think that, you know, this company has the potential of going up to even 600 and 650.
45:30 So long-term players, as you said, 24 months. CG Power can be definitely bought into
45:35 and it's a good company, good lineage, good management,
45:38 and good numbers as well. A slew of numbers expected post markets today.
45:44 And I just want to like quickly go through them and get views of our guests as well.
45:48 Bajaj Auto, definitely one of them.
45:50 So is TVS Motors. In the entire two-wheeler space,
45:54 you're seeing quite a resurgence compared to, you know, the last few quarters.
46:01 So the expectation is that you'll see profits in Q3 for Bajaj Auto,
46:05 I'm talking about now, to rise nearly 29% on higher scales,
46:10 a higher mix of EV is expected as well.
46:15 EBITDA is expected to rise about 29%, but EBITDA margins may dip slightly.
46:23 If you talk about TVS, profits expected to rise about 55% to 547 crores.
46:31 That's the expectation at this point. Revenue is 27%. EBITDA margins also may expand,
46:38 but sales is what is going to be driving TVS Motors in all likelihood.
46:45 Ajit, a quick call for you on either of these companies
46:49 and may I add Hero also to the mix?
46:53 So, Tamanna, among these three names,
46:55 I feel that Bajaj Auto, because we have already seen a marginal dip towards the short-term averages,
47:01 the stock has decreased from 7400 mark to 6900 before the numbers,
47:05 and now we are seeing a bit of a recovery again.
47:07 So if anyone is planning any trade before the numbers,
47:11 then Bajaj Auto should be the preference.
47:14 And since we have the numbers and the stock have moved up very sharply from 5000 to 7400,
47:19 the prudent approach is to look for option strategy by buying like,
47:23 you know, 7200 call and shorting 7500 call.
47:26 Or if in case if you are long in the future,
47:28 you can hedge it through by buying 7000 put.
47:32 Vijay, which ones do you like among at least these three players?
47:37 You know, Bajaj, TVS and Hero?
47:40 I think Hero has moved up quite a bit.
47:42 Bajaj still I think has the potential.
47:45 So let's see how the results come out.
47:48 So again, my first choice would be Bajaj followed by TVS and then Hero Auto.
47:53 Okay, Bajaj, TVS and Hero in that order.
47:56 The other big numbers, of course, Neeraj expected are Tech, Mahindra.
48:00 Yeah, and you know, it'll be interesting to see because Tech necessarily hasn't had the best of outcomes.
48:05 Some have had mixed numbers and but the only good part for Tech,
48:09 Mahindra is or would could be that they've had such a lackluster first half
48:15 and the margin performance has been so shoddy that anything that they do,
48:19 if it's even remotely good, then the outperformance quarter on quarter could be very, very marked.
48:25 And that's probably one thing to watch out for.
48:28 But they've had an issue with the legacy telecom business, BFSI quite absent,
48:32 despite Mohit Joshi just coming in.
48:34 Can they rank it up is the question.
48:36 So a few things to watch out for.
48:38 I think we'd be really interested to know what the management is saying
48:41 because there's a change there at the helm, which is also what the street has been watching.
48:47 I'll go across to Ajit and Vijay and see if they have any views on Tech M.
48:52 And, you know, we should talk a bit about what's happened with MassTech as well.
48:55 Since we're just on the space, they have announced that they have a generative AI deal with Microsoft
49:02 and that has come in just a short while ago, but not too much enthusiasm on the stock on that.
49:08 Vijay Chopra, you want to go first on Tech M?
49:12 I think the stock has done very well.
49:14 I also feel that the guidance should be in line with the market expectations.
49:19 But yes, I would not recommend a fresh entry at this point of time.
49:22 The stock has moved up quite a bit.
49:24 If at all in a correction to get the stock around maybe 12, 18, 13 hundred, it would be a good spot to get into.
49:29 And among the IT pack, I think that, you know, if somebody wants to go, why not go with TCS?
49:34 Because still I think that TCS looks good.
49:38 And in a correction, you can buy anywhere between say maybe 37, 37.50.
49:43 I see TCS as a long term portfolio stock.
49:46 So keep on hanging around with it.
49:49 Well, hang around with some of those.
49:51 Okay, Ajit, it's about time.
49:54 Can you tell us a BTST or an STBT strategy as the case may be?
49:58 Eight minutes to go.
50:00 So, Neeraj, we've recommended four stocks.
50:03 And in case if somebody is planning any fresh trade at the current levels,
50:07 I still feel that Siemens and Dr. Reddy are the two candidates that one can definitely buy even at the current levels and carry for tomorrow.
50:15 Okay, so those are the ideas from Ajit.
50:21 Vijay, I was just wanting to quiz you on one of the ideas which you mentioned, Symfony.
50:26 Now, great management, very, a promoter with great foresight.
50:30 Somehow, the business or the stock has virtually done nothing for the last three, four years.
50:37 Now, the question is, therefore, why is it that you're confident that this summer might be different?
50:41 I mean, this is a 12-month chart, which is where in the business has been flat.
50:44 But if you look at the five-year performance of Symfony as well, I would really be surprised if it's at the stage on fire.
50:50 So, why is it that this summer could be different for Symfony?
50:53 Well, yes, I partly agree with you that, you know, stock-wise, it has not done well.
51:00 But look at the market share.
51:02 You know, I think that Symfony stands at the largest market share today.
51:06 And there are times when we really do not see reflection in the price of the stock, you know, as far as the whatever the company is doing.
51:15 I don't say that, you know, it's going to be a different summer.
51:17 Maybe they do very well.
51:20 They have a very good distribution channel, a very good brand recall.
51:25 I think that all the ingredients are right in Symfony.
51:28 And yes, the petroleum prices coming down would bring the input costs down.
51:33 The last three, four years, you've seen, a couple of years, you've seen, you know, crude playing a spoiled sport for most of the companies which use plastic.
51:40 And somehow, the raw material costs were pretty high.
51:42 I think that one, you know, Philip could be one uplifting reason could be the lower raw material cost.
51:51 Number two, yes, I think that after a good winter, we are expecting a good summer too.
51:56 And on the technical charts, you know, it is making a golden crossover.
52:00 So I think that the ingredients of a stock to go up seemingly look good.
52:06 And generally, it's a seasonal play.
52:07 We do it every year.
52:08 So I recommend, you know, Wadilal.
52:10 Wadilal has gone up already.
52:11 You know, I recommended on one of the TV channels a couple of weeks back.
52:14 So, so Wadilal has done well.
52:17 I think Symfony should also do well.
52:19 And the target I'm giving right now is 1100, 1150.
52:22 So I'm not going beyond that.
52:23 I'm not saying that the company would double up on revenues or profits.
52:26 But yes, I think it's a seasonal play.
52:28 It's a good company.
52:29 Consolidation has happened.
52:31 And in peak winters, you can definitely make use of such opportunities.
52:36 It's lying down.
52:37 It's not overvalued at all.
52:38 Plus, there's a technical reason also.
52:40 It's making a golden crossover.
52:42 So all these reasons have, you know, convinced me to recommend this stock.
52:46 Okay.
52:46 I saw a bit of a tactical play as opposed to just purely what's happening fundamentally.
52:52 Because, I mean, these conditions pre-existed.
52:55 Like I said, fabulous management, Mr. Achal Bakery, a man with great foresight.
52:58 He set this industry, still has the lion's share.
53:01 But five years, a negative 24% return.
53:05 The stock hasn't done well.
53:07 That is the only problem with this business for now.
53:10 Okay.
53:11 So that is one.
53:12 I think the one that spoke about some of these companies which are coming with the results and Tata Steel.
53:17 But it's, you know, Tata Steel, Hindalco and some of the others have had this move today.
53:22 Presumably also because of the global factors.
53:25 Now, Ajit, I would love to understand on the charts.
53:28 Is there a metal stock that provides you a BTST opportunity?
53:33 I don't know if you already recommended something out there.
53:35 But if not, can you look up the charts of Tata Steel or Hindalco or some such?
53:39 Or Nalco.
53:40 Nalco, NIM, Copper, all of them.
53:42 Because they are all buzzing today.
53:44 Yes.
53:45 So, Neeraj, in fact, I would rather prefer Tata Steel instead of any other name.
53:51 Considering that we have not seen the kind of quantum that we have seen in the other middle majors in the recent run.
54:00 And there's a possibility, you know, what the charts are indicating that this one and a half year consolidation is likely to end in Tata Steel.
54:08 And maybe tomorrow could be that day.
54:11 So, and the best part is that we have hardly seen any major correction during the down days also, you know, when the other middle majors were reacting.
54:20 So, we have a very strong base around $149.
54:22 So, the risk reward is also very variable. And once we cross this, you know, the previous record highs hurdle around $144, $145, there could be a next leg of the up move.
54:33 And maybe the catch up move that is missing in Tata Steel.
54:36 And alongside with Tata Steel, I like this Hindalco also that we have recommended to our clients also today.
54:42 And we are ranked 285 to 290 in the short term, with stop at 264.
54:47 Look at Yuko Bank responding positively to its numbers, markets near days highs.
54:54 And absolutely, you know, very, very stellar kind of recovery that we have seen.
55:01 Just we've been speaking about banks all morning.
55:05 Vijay Chopra, do you think that the pain is still there in the private banks?
55:10 Is it a longer term issue with deposit growth, quality of deposit, cost of funds, etc.?
55:17 Or do you see this as a bit of a panic that we have seen which will reverse?
55:21 I mean, your PSUs or your PSU banks are doing just fine, but it's the private space which has seen some pain.
55:27 So, there are a few things, you know, I would like to mention here, Tamanna.
55:31 One, the NIMS are not increasing.
55:33 The HDFC management, I very clearly remember last quarter said that, you know, a couple of quarters down the line, the NIMS would improve.
55:41 And they gave a good guidance. But somehow two quarters down the line, it has not happened.
55:45 One is that, you know, the interest on deposits is pretty high.
55:50 And they have to service that as well because they raise capital.
55:53 Secondly, you know, I think the kind of growth the market was expecting from the like of from HDFC.
56:02 I think I mentioned on one of the national channels that there's a lot of competition.
56:07 So, gone are the days when, you know, HDFC would do 30% for 30 quarters as, you know, they used to say.
56:13 And so, the further growth will be very difficult.
56:16 There were no small finance banks and smaller banks, you know, in competition with HDFC at that point of time.
56:21 So, I think that it has become an elephant and it has to be nimble-footed.
56:26 The management has to do something drastic to bring down costs, to increase the net interest margins.
56:32 And, you know, definitely post the merger, they need to work harder, cut down the flap.
56:38 Only then we'll see, you know, HDFC Bank coming back to the glorious days it used to have.
56:44 Secondly, overall banking, I think that PSU banks are better placed.
56:49 You mentioned Yuko Bank. I think Union Bank is also very good.
56:52 You know, Central, I recommend Indian Bank and Bank of India.
56:57 Both look very good on the charts as well as fundamentals are good.
57:01 Canara Bank looks very good.
57:03 So, Bank of Baroda can be bought in a correction.
57:05 So, I think that most of the skeletons in the cupboard of the PSU banks have come out.
57:14 Now, the asset quality is good. The major worry was about the asset quality.
57:17 I think that, you know, PSU banks will do better than the private banks.
57:20 Okay, sorry, but we'll have to wrap it up here because we're just about to come to the close of the market.
57:25 Jem and both of you, thank you so much for taking the time out and being with us.
57:28 But this is what the markets are shutting shop like at the highest point of the day.
57:32 One percent, just pull up the intraday of the Nifty and you will see what I'm talking about.
57:36 Great showing at close for the Nifty, 227 points higher.
57:41 And the intraday should come up on your screen right here at the high point of the day.
57:45 Pretty strong show by the Nifty.
57:47 The heat map will show you the key gainers today.
57:50 And I think we should also try and show the weightage led move.
57:56 But suffice to say that it seems that IndusInd Bank, even in HUL maybe, or Bharti Airtel or some such,
58:04 would be the ones which are driving. But HDFC Bank with a 2 percent gain could possibly be the one with the most contribution to the index today.
58:14 Maybe Reliance and an IT name also comes in. Not too many losers save for ICICI and AXIS.
58:19 Yes, Asian Paints and Adani Ports. So I think they would form the other end of the contributors list.
58:24 But if you can just have the Nifty contribution before I hand it over to Tamanna.
58:27 And on cue, there is HDFC Bank, there is Reliance, there is Infi and there is Bharti.
58:33 Not surprising. The metal counters, good strong moves, but the weightage on the index, not so much.
58:40 So on the losing side, the top four losers would possibly be the ones with the top weightages as well in terms of the points contribution.
58:47 Adani Ports, Asian Paints, AXIS and ICICI Bank, a principal culprit, almost negating any kind of gains that HDFC Bank could have brought in.
58:56 And as a result of which you are the Nifty Bank trading in the red.
59:01 The market breadth could have done better. But I think we'll take it with both hands because the mid caps and the small caps have done rather well.
59:09 That's it from all of us here who put this show together. Thanks so much for tuning in.
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