Why Is TRF Pulling The Plug On Merger With Tata Steel | India Market Close | NDTV Profit - video Dailymotion

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- ANMI approves extension of trading hours of derivatives segment - What should you expect from the #MPC tomorrow?   Niraj Shah and Samina Nalwala dissect key market trends and explore what's to come tomorrow, on 'India Market Close'. #NDTVProfitLive   Guest List: Avinash Goraskshakar, Director-Research, Profitmart Securities Ajit Mishra, SVP-Research, Religare Broking ______________________________________________________   For more videos subscribe to our channel: https://www.youtube.com/@NDTVProfitIndia Visit NDTV Profit for more news: https://www.ndtvprofit.com/ Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-reports Follow NDTV Profit here Twitter: https://twitter.com/NDTVProfitIndia , https://twitter.com/NDTVProfit LinkedIn: https://www.linkedin.com/company/ndtvprofit Instagram: https://www.instagram.com/ndtvprofit/ #ndtvprofit #stockmarket #news #ndtv #business #finance #mutualfunds #sharemarket Share Market News | NDTV Profit LIVE | NDTV Profit LIVE News | Business News LIVE | Finance News | Mutual Funds | Stocks To Buy | Stock Market LIVE News | Stock Market Latest Updates | Sensex Nifty LIVE | Nifty Sensex LIVE

Transcript

00:00:00 Well, thanks for tuning into India Market Close to yet another interesting day of trade

00:00:19 and bring up the markets for you and just show you what's happening there.

00:00:22 It's flat lined today, but it's a day of consolidation after a trending day.

00:00:27 Notice that it's not in the red as yet, which is actually a good thing.

00:00:31 The bank Nifty will come on your screen and that is giving support, which is the point

00:00:35 that we made in the morning that quite unlike yesterday when the markets had support from

00:00:39 IT and some of the others and not from banks, today banks were participating, at least when

00:00:44 they started off, with as much gusto as the Nifty.

00:00:47 What about the broader end of the spectrum and the mid caps and small caps should come

00:00:50 up on your screen in moments from now those indices and you will see what I'm talking

00:00:53 about.

00:00:54 So far, the mid cap and the small cap indices are pretty good going and about half a percent

00:00:59 or thereabouts for both mid caps and small caps even now, which is actually not a bad

00:01:03 sign and then get the heat map up on the screen and just look at what's moving and what's

00:01:09 not.

00:01:10 So there is some bit of strength in State Bank of India, three and a half percent higher.

00:01:14 There is strength in commodities by and large today.

00:01:17 If you just look at Hindalco, look at Grasim, look at JSW Steel and Ultratech.

00:01:23 So the Aditya Perla group has had a good move today with all the three names in the top

00:01:28 ten gainers list.

00:01:29 There is strength in Adani Enterprises and actually a lot of other Adani Group stocks

00:01:34 are very active today.

00:01:35 Just that the quantum of red has kind of come a little bit higher, which is interesting

00:01:41 and IT is sulking today for all the gains that the index made yesterday.

00:01:46 It's certainly come off in the session today.

00:01:49 So one day wonder if you will and let's see what happens to some of these stocks in the

00:01:56 penultimate day of the week after having had such a strong Tuesday.

00:02:01 Just one more chart, which is the market breadth and just see if there is a bit of a decline

00:02:05 there before I hand it over to Samina.

00:02:07 Yes, indeed.

00:02:08 We started off very well, as you can see.

00:02:09 I think we are coming off from the lows of the day, but still not as strong as the start.

00:02:16 However, not doing bad.

00:02:17 Samina, if the Aditya Birla Group is kind of dominating the large cap end of the market,

00:02:23 what about the mid cap end?

00:02:24 Adani, I think that's the group name that is actually doing quite well in trade this

00:02:29 afternoon.

00:02:30 So, pull up Adani Total, Adani Green, those are the big gainers from the broader markets.

00:02:35 Now, this is screening on Backer Bloomberg reports that have indicated that Adani Green

00:02:41 is in conversation with foreign banks, including a US firm, for its first dollar bond sale

00:02:45 since Heidenberg.

00:02:46 Now, that is a big news development.

00:02:48 Remember, also Adani Green jumped into a profit this quarter, doubling down to Rs. 256 crores

00:02:54 versus Rs. 103 crores that we've seen for the same quarter last year.

00:02:58 So, both those Adani Group names are actually looking really well placed in trade today,

00:03:02 8% higher and 6% higher in Adani Total.

00:03:04 Well, apart from that, you've got a whole bunch of other names.

00:03:07 So, if you can start quickly pulling those up.

00:03:09 A lot of the reaction today is largely earnings based.

00:03:13 So, what you have is EIH.

00:03:15 If you can pull that up, one, you'll get a sense of what is happening on EIH.

00:03:19 This afternoon, solid set of earnings.

00:03:21 EIH, remember, operates the Oberoi Group of hotels.

00:03:24 They've reported strong profits, gone up about 150% on the stock itself in the last one year.

00:03:31 Operational efficiency has kicked in, which also ensures margins are looking good for

00:03:35 EIH.

00:03:36 Trent as well, 18%, massive up move on both those players, again, on back of very solid

00:03:40 earnings.

00:03:41 TRF is gaining a start to seal calls of the merger.

00:03:44 The stock has done exceptionally well in the year.

00:03:47 Tata Steel, remember, owns 34% of the stock, but the merger deal or the swap ratio was

00:03:53 not seeming very favorable for TRF stakeholders.

00:03:55 Now that this merger has been called off, TRF actually having quite a field day in today's

00:03:59 day at 20% gains.

00:04:01 On the sell side, Sirma, disappointing earnings, big drop in the headline numbers on back of

00:04:08 which the stock gets a thumbs down, seeing a cut of nearly 8%.

00:04:12 NLC as well, disappointing on every front, top line, bottom line, margins, all seem disappointing

00:04:19 for NLC and the stock gets a beating in today's trade, has been an outperformer in the recent

00:04:23 few weeks, but today, of course, is another story.

00:04:26 GSFC, weak earnings, margins deteriorated.

00:04:30 You've got top line that doesn't look good, margins under pressure, profitability also

00:04:34 not good and Naveen Floreen.

00:04:36 So, both of those are also earnings reactions on the downside.

00:04:39 So, that's largely the texture of the market.

00:04:42 Stock specific trade is what's driving today's session and those are largely coming in on

00:04:46 back of earnings.

00:04:47 But Neeraj, I think PSU Banks are getting another leg up in today's session.

00:04:50 I'm not surprised that somehow these stocks seem to be on – I mean, maybe at times having

00:04:56 indifferent moves, but kind of having more up days than down days.

00:05:02 We had Sridhar Shivram earlier in the day and we'll try and make you hear his views

00:05:05 on what's happening and what his view on PSU Banks is.

00:05:09 But let me first get in our experts on the show, Ajit Mishra, SVP Research at Religare

00:05:16 Broking and Avinash Gorakshekar, he's Director of Research at ProfitMart Securities joining

00:05:22 us on the show.

00:05:23 Chairman, both of you, thank you so much for taking the time out and being with us.

00:05:26 Ajit, let's start with you and how do you look at the day straight today?

00:05:30 Started off well after a very strong day yesterday, but has cooled off a little bit.

00:05:35 Good afternoon, Neeraj.

00:05:36 So, Neeraj, this is something that we have been observing for quite some time now, that

00:05:42 alternate day of move means one day we are seeing that markets are getting traction with

00:05:49 the help of some of these select index majors.

00:05:51 The next day we are taking a breather due to the underperformance of banking.

00:05:55 Today we feel that, just ahead of the RBI meet, market taking its own time to consolidate.

00:06:03 The good part is that Nifty, at least we are seeing that index has been holding 20 EMA

00:06:08 for quite some time.

00:06:12 And barring banking, the rest of the other sectors, they are witnessing rotational buying

00:06:16 every alternate day.

00:06:19 So index, I feel that still we have multiple resistance to cross that the major hurdle

00:06:25 is still around 22 to 150.

00:06:27 Until we break that zone decisively, I doubt that there will be any meaningful up move.

00:06:33 So consolidation tone is likely to continue is what charts are indicating, at least in

00:06:37 the near future.

00:06:38 But since the tone is on the positive side, one can continue with buy on dips as long

00:06:42 as we are holding about 21,600.

00:06:45 Buy on dips as long as we respect 21,600.

00:06:48 That's the technical view.

00:06:50 Avinash, two consumption earnings that I want your view on.

00:06:54 Britannia, it opened the gap up.

00:06:57 Numbers on the face of it look disappointing.

00:06:58 The management commentary was very promising.

00:07:01 Nestle, on the other hand, numbers have mistreated expectations.

00:07:07 What are you making of both these counters, Britannia and Nestle on back of earnings?

00:07:10 Would you be a buyer?

00:07:11 Yeah, I think as far as Britannia numbers are concerned, the commentary may have been

00:07:17 slightly better.

00:07:18 But if you look at the numbers, nothing so exciting in the sense that one could expect

00:07:23 a very significant amount of re-rating.

00:07:25 We still believe that urban markets as well as rural market demand is still pretty soft.

00:07:32 And I think the management has reiterated that possibly coming quarter or maybe the

00:07:37 next couple of quarters, we could see some sort of green shoots on the rural market side.

00:07:41 So that is definitely a big positive because that could actually increase the volume growth.

00:07:46 But I think overall, numbers were not exciting at all.

00:07:50 In fact, in terms of valuations, I don't think there's any hurry from our side to actually

00:07:55 go and recommend a stock.

00:07:56 We would prefer to wait for a correction.

00:07:58 As far as Nestle is concerned, again, the street was expecting a very stellar set of

00:08:02 numbers.

00:08:03 But what has come out is below the market expectations.

00:08:05 So I think despite the fact that numbers have been good on the face of it, what kind of

00:08:10 volume growth and what kind of growth trajectory the management points out in the coming quarters

00:08:14 is very important.

00:08:15 I would still be a little wary because these are expensive stocks.

00:08:19 In fact, Nestle is also not trading cheap.

00:08:21 Probably we'll wait for maybe some more clarity before we decide.

00:08:25 But definitely in this entire earnings season, FMCT companies have been a kind of a very

00:08:31 soft kind of performer.

00:08:33 You look at Hindustan Lever, you look at Dabur, Godrej Consumer, I think all these companies,

00:08:37 they've not been able to capitalize on incremental demand, which still from the rural pocket

00:08:43 continues to be weak.

00:08:44 So at best, we prefer to hold.

00:08:45 I would not suggest any fresh buying, at least at these levels.

00:08:49 Right.

00:08:50 Ajit, a quick word on PSU banks.

00:08:52 They seem to be witnessing a leg up in today's day of trade.

00:08:57 That's right, Samina.

00:08:59 So, in fact, in this entire performance that we've seen in the banking, the PSUs are on

00:09:05 a different trajectory altogether.

00:09:07 We are seeing their indexes making a record high and the Lagards, which were not participating

00:09:11 in earlier with every passing day, we are seeing a 23% kind of a move in some of these

00:09:17 names.

00:09:18 But now I feel that it's slightly overheated, especially some of these names like Yuko,

00:09:23 IOBA and all.

00:09:25 So within the PSU pack, SBI is one candidate wherein we still see stability and the kind

00:09:31 of move that we are seeing with volumes today.

00:09:33 We expect still we have a room of around 5 to 8% in the current levels.

00:09:37 So SBI is the only candidate in case if somebody is looking for any fresh bet before the RBA

00:09:42 policy and 650 should be a stop if we are planning any trading in a position.

00:09:48 Avinash, EIH, 18% gains in trade.

00:09:53 They operate the Oberoi Group of Hotels.

00:09:56 Stock itself is also up about 150% in the last one year.

00:10:01 So tell me what do you think about EIH and also Lementry, because while EIH did exceptionally

00:10:06 well, Lementry's earnings are not being appreciated this afternoon.

00:10:11 I think basically EIH is an old player in the industry and I think you have been right

00:10:16 that numbers this quarter have been extremely strong.

00:10:19 My sense is EIH has always been a kind of a player which has operated in the five star

00:10:25 and in the luxury segment.

00:10:26 And I think that is one segment which has done remarkably well.

00:10:30 They have also announced pretty good expansion plans to diversify into new markets.

00:10:34 So I think EIH, despite the fact that it's run up significantly, I would still consider

00:10:39 it as a medium to long term investment, considering the fact that this growth trajectory is definitely

00:10:44 going to be maintained.

00:10:45 We believe the hospitality and the travel market continues to be buoyant, I think, both

00:10:51 in the domestic market as well as people who are coming from abroad, the foreign tourists.

00:10:55 And this cycle is going to continue for the next two to three years because supply demand

00:11:00 wise, supply constraints still continue.

00:11:02 And I believe that major events like World Cup, G20 have actually boosted India's image.

00:11:08 We believe that the current year should also be equally good.

00:11:10 As far as Lementry is concerned, see they operate in the accommodation which is preferred

00:11:15 by the middle class and lower middle class kind of customers.

00:11:19 Most of the hotels are affordable segments and they've also announced a very massive

00:11:22 expansion plan.

00:11:23 So I think on the leverage side also, if you look at Lementry, they've been funding a large

00:11:28 part of their growth from debt.

00:11:29 So I think we have not seen the full benefit of this expansion coming out.

00:11:34 And obviously, in the initial years, the occupancy level is going to be lower.

00:11:38 The cost of funding is going to be high.

00:11:40 So until they scale up, I think you're not going to see any remarkable risk reward return

00:11:43 on Lementry.

00:11:44 Longer term, yes, they are definitely a formidable player.

00:11:47 But these numbers to get better will take at least maybe 12 to 18 months before we see

00:11:52 the benefit of the expansion getting reflected in the revenue and in the cash flows.

00:11:57 Ajit, what are your top picks?

00:12:00 Yeah, so I mean, a kind of consolidation that we are seeing.

00:12:05 So barring banking, media are the sectors which one should be focusing on.

00:12:09 And IT, pharma, metals is something that we are recommending to our clients.

00:12:14 So both the recommendations are from those preferred sectors.

00:12:18 The first one is HCL tech.

00:12:20 It's the outperformer within the last year IT basket.

00:12:25 And the stock is trading at record highs.

00:12:27 In fact, we have a fresh consolidation breakout within HCL.

00:12:30 And this fall that we are seeing today is a buying opportunity in case we missed the

00:12:33 chance earlier.

00:12:34 So 1590 should be a stop if we are planning any fresh trade in HCL, with 1670 being the

00:12:39 target area.

00:12:40 And another stock that we like from the metal space.

00:12:44 So the steel-related counters, they have done exceptionally well, especially the PSU's name.

00:12:48 And now we are seeing the same momentum cascading to the private players.

00:12:53 So JSW Steel, after this recent correction, it has formed a strong base around 800 mark.

00:12:59 And now we are seeing the recovery.

00:13:01 So 880 is something that we are eyeing in a day or two.

00:13:05 And your stock should be at 820 for the buy condition.

00:13:08 That's two buy calls coming in.

00:13:09 HCL Tech and JSW Steel for the short term on the charts.

00:13:15 Well, just a little bit of a detour, actually not really a detour, but the broker's body,

00:13:20 I believe, the Association of National Exchanges, members of India has approved extension of

00:13:25 trading hours of derivative segments.

00:13:28 Saloni is joining us with more details on this.

00:13:30 Saloni, this was a big story this morning.

00:13:33 You want to build on it for us?

00:13:34 Yeah, sure.

00:13:35 So, you know, Samina Brokers have finally agreed to have certain recommendations to

00:13:40 be sent to SEBI.

00:13:42 Now, why is this important is because last month, SEBI chief as well as Brokers Association

00:13:47 said that they were having issues to have a proper discussion to come up with the recommendations

00:13:53 as there were issues with relation to small brokers who were saying that there might be

00:13:59 issues when it comes to operational matters as to how operationally it would work, especially

00:14:03 for small brokers, you know, given the bandwidth that it will require.

00:14:07 Also issues related to the margin, which may arise post introduction of the extension of

00:14:11 hours and also issues related to price settlement that needs to be sorted out.

00:14:15 So, now, all these apparently are something that they have discussed and they have put

00:14:18 it on in the recommendation and they are planning to send it today to the market regulator.

00:14:23 Now, just to give a context, NSC had proposed the extension of trading hours and they had

00:14:28 also proposed to continue between 6 and 9 p.m.

00:14:32 Now, the timing obviously will differ as to what the recommendation is and what SEBI sees

00:14:35 as suitable.

00:14:36 So, that's something we have to watch out for.

00:14:38 Also, this is not exactly the approval of the proposal because SEBI first will evaluate,

00:14:43 will talk to investors and have a consultation paper out and they will have discussions with

00:14:48 the public feedback as well and after that only will we see if this is something that's

00:14:52 feasible with the current recommendations that we have or not.

00:14:55 Also, once the recommendation is out, we'll also have it, you know, point by point if

00:15:00 it makes sense or not also.

00:15:02 Right.

00:15:03 That's of course the back and forth on extension of trading hours in the derivative segment.

00:15:10 Remember, this has been the offering for the last decade, but I guess getting closer as

00:15:14 we speak.

00:15:15 Well, Avinash, one more stock that's definitely worth a mention is Trent.

00:15:21 Stock is up 18%.

00:15:24 Excitement is very evident on the street in terms of what this company has reported.

00:15:29 Outlook is also looking very healthy for the company.

00:15:32 Numbers have also been pretty phenomenal.

00:15:35 What do you do with Trent?

00:15:36 Do you think a lot of that is already in the price and this is a knee jerk reaction or

00:15:39 would you still consider buying Trent or adding it to your portfolio?

00:15:44 I think Trent is one of those retail companies where we believe the numbers have actually

00:15:49 been very stellar and very robust.

00:15:52 I would not be surprised that, you know, considering the kind of geographical network they have,

00:15:57 the kind of product they cater and the kind of customers they have, I would not be surprised

00:16:01 that even next year could be a very strong year for them.

00:16:04 So I think, you know, in these kinds of companies, rather than taking a short term call, if you've

00:16:08 got the next 18 months in mind, any correction should be used as an opportunity to buy.

00:16:14 Any dip in the market for whatever reason should be used as an opportunity to add to

00:16:18 your portfolio.

00:16:19 Even investors who can buy now can expect a decent 15-20% upside over the next 18-24

00:16:23 months.

00:16:24 So I think this is a quality stock, again, a very top management and most importantly,

00:16:28 you know, numbers which they have delivered actually shows the scalability kind of potential

00:16:33 for this business.

00:16:34 I think within the retail space, this has got the best opportunity to outperform.

00:16:38 But I think you need to give in a little more time because the stock has moved up quite

00:16:41 significantly.

00:16:42 So I think it will consolidate for some time.

00:16:44 But longer term, I think we could see further value upside from the current levels.

00:16:48 Ajit, on the charts, what do you make of Trent?

00:16:50 Nearly 18% higher as we see it in the last one month.

00:16:55 Returns have also got 20 odd percent.

00:16:57 Six months, it looks phenomenal.

00:16:59 At 3568, further upside likely?

00:17:02 Certainly, we are considering the kind of volumes that we are seeing today.

00:17:07 Average, we usually see around 12 lakh shares trading.

00:17:11 Today, it's already crossed 50 lakhs mark now.

00:17:14 So this shows serious interest and the way we are ending the session with the stock around

00:17:19 the record highs, obviously, there's a possibility that we might inch toward maybe closer to

00:17:24 38 or 4000 mark.

00:17:27 Now for the traders at least, this one thing that they have to keep in mind if they are

00:17:34 planning any trade is that stock should not come below 3300 mark now because below that,

00:17:40 it might again fizzle out and lose the momentum.

00:17:43 So as long as we are holding above this mark, yes, one can continue to look for buying opportunity

00:17:47 on dips.

00:17:48 That's the word coming in on trend.

00:17:51 Neeraj, you want to comment on trend?

00:17:53 No, nothing.

00:17:54 Phenomenal performance.

00:17:55 The number of people who are buying supposedly in Zodio and how well it's performing, right?

00:17:58 Quite stunning.

00:17:59 And that reflects in the stock price.

00:18:01 We will take a quick break.

00:18:02 The markets are off the days though, but still really trading sideways, consolidating after

00:18:06 a very sweet trade we saw yesterday.

00:18:08 We will slip into a break.

00:18:09 We will come back and continue our conversation.

00:18:10 So stay tuned.

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00:21:00 Back with India market close right here on NDTV Profit.

00:21:03 You know, two sets of stocks seem to be doing well today.

00:21:07 One on the index, we are seeing the Aditya Birla Group stocks as a pack move up.

00:21:11 Hindalco, Ultratech and Grasim have moved up.

00:21:14 And as Samina said, at the broader end of the spectrum, the Adani Group stocks are making

00:21:17 a bit of a comeback or making a strong move.

00:21:20 The comeback is a wrong term.

00:21:22 Ajit, I'll first come to you on, let's say, Adani Green, Adani Total Gas and a big breakout

00:21:29 move in green in particular.

00:21:31 Are there more legs?

00:21:33 Do you see that on the charts?

00:21:35 So, Neeraj, just to put you things into perspective, we have reached to that mark from where we

00:21:45 started seeing this decline.

00:21:46 So, 2000 was a level, you know, in January 2023.

00:21:51 And we have recessed those levels.

00:21:53 So, once we surpass this zone of 2000, I feel there could be next leg of the move in Adani

00:22:00 Greens, which could help the stock to again inch towards its record highs.

00:22:05 Since we have negated the, you know, overall decline, you know, it took us nearly what,

00:22:13 over a year and up.

00:22:15 So, I feel that there could be a bit of a beater, considering that it's usually the

00:22:22 trend that once we reclaim the critical hurdles, stock or index spend some time.

00:22:28 So, there could be a possibility that we might take a beater around the 1950-2000 levels.

00:22:32 But yeah, the tone is likely to remain positive and the volumes indicates that 1750 should

00:22:40 hold now.

00:22:41 So, 1750-2000 is something that we are eyeing at least in the near future, could be the

00:22:46 range.

00:22:47 But once we cross this mark, 2000, then definitely it will be a different story altogether.

00:22:52 So, yes, you can continue to hold your longs with 1750 being the stock.

00:22:56 Okay.

00:22:57 Avinash, to you, whether, I mean, either Adani Green, if you have a fundamental view, if

00:23:04 not, give me a view on, let's say, Hindalco.

00:23:10 I think Adani Green, my sense is, you know, looking at the kind of opportunity in the

00:23:15 solar space, Neeraj, you know, what Modiji has announced post the Ayodhya Ram Temple

00:23:21 inauguration, I think clearly the government's focus on renewable and green energy is increasingly

00:23:26 getting more and more stronger.

00:23:28 And I think in that aspect, Adani Green definitely is a very dominant player.

00:23:32 And I think, you know, despite the fact that numbers have not come in, they have a large

00:23:36 capacity to scale up.

00:23:37 And that is something which the market says quite positive.

00:23:39 So, I think, you know, now the markets are just playing on the narrative.

00:23:44 And I think the numbers will follow very soon.

00:23:46 As far as Hindalco is concerned, we still continue to believe that, you know, we will

00:23:50 probably wait for another one or two quarters before we see very strong numbers coming in.

00:23:54 The last quarter numbers were definitely good, no doubt about it.

00:23:58 But I think clearly, you know, globally, metal prices the way they are, my sense is that

00:24:02 only sustainability of these prices would give us more comfort.

00:24:05 So, as of now, we are not very positive on the metal sector.

00:24:09 We believe that, you know, more importantly, you know, the capital goods or maybe, you

00:24:14 know, the building product sector, these are sectors which are more interrelated to the

00:24:18 infrastructure.

00:24:19 Cement is also a very interesting opportunity.

00:24:20 So, you know, there are many other choices which are available compared to metals.

00:24:25 Okay.

00:24:26 Well, another stock in focus after posting a really strong set of Q3 numbers is EIH.

00:24:33 This stock is up 20% at all time highs as well, up nearly 150% in year, actually it's

00:24:41 17%, so not exactly 20%, but almost there.

00:24:44 Anush, she is here to give us the details.

00:24:46 And Anush, what have been the highlights of this EIH quarter?

00:24:50 Right.

00:24:51 So, if you have to look at the results, there has been a good set of numbers beating market

00:24:56 expectations.

00:24:57 You can see our revenues uptake about 26% at Rs. 741 crore.

00:25:01 The main focus should be on the EBITDA and the EBITDA margins over here with the EBITDA

00:25:05 gaining up to like 55% and margins inching up by about 811 basis points to 44% compared

00:25:12 to 35% earlier.

00:25:14 So, even the net profit has seen about a 52% uptake.

00:25:17 So, what explains this is, one is the occupancy, occupancy rate has moved up now to 79% compared

00:25:25 to 77%, so a 2% change over there.

00:25:28 Again, what is impressive is the ARR.

00:25:30 So, in the hospitality segment, we are seeing this overall trend of increasing average room

00:25:35 rates wherein EIH has recorded about a 19% growth at about Rs. 19,985.

00:25:41 So, accounting for both of these, even the REF part, the revenue per available room metric

00:25:46 has moved up to 23% this quarter.

00:25:50 Bigger focus should also be on the debt reduction strategies that the company has been making.

00:25:54 So, since June 2022, it has maintained its net cash positive status with a net cash positive

00:26:01 status of about Rs. 684 crore this quarter in the December period compared to about Rs.

00:26:08 256 crore last year.

00:26:09 Again, for future triggers, what should be a watch out is the foreign tourist arrivals

00:26:14 which are still below the pre-COVID level.

00:26:17 So, this gives them more room, more headroom to grow.

00:26:21 And again, the expansion plan that the business has outlined for adding up to 50 hotels by

00:26:26 2030, so that should again be on a watch out.

00:26:29 Stock performance, you correctly mentioned Neeraj that it has gained about 150%.

00:26:34 So, EIH is on a lookout on basis of these numbers.

00:26:37 Indeed, it's been a star performer, one of the top, in fact, the top gainer in the broader

00:26:42 markets in today's trade.

00:26:44 Another one, Avinash, Paytm, there has been so much news flow, largely negative.

00:26:51 On Friday, of course, when the stock had corrected sharply, you had Mogenstani Singapore pick

00:26:57 up the stock at levels of 480, 487.

00:27:01 It's trying to do a recovery.

00:27:03 Do you feel like it's found a little bit of a bottom at this level?

00:27:06 Fundamentally, is it enough reason to go out and buy Paytm, value buying?

00:27:11 I don't know. Is that how you feel?

00:27:14 I think my guess is that, see, this is a simple bounce back, which has happened to stop, which

00:27:19 has fallen by almost 50%.

00:27:21 A bounce back is obviously quite natural.

00:27:23 But I think the key question which markets want to know is that, you know, earlier that

00:27:28 given a narrative that possibly they would become a bit positive very soon.

00:27:32 Now, that obviously is going to be a little tricky because after February 29, when the

00:27:38 Paytm wallet is off, that's going to obviously, you know, upset their revenue stream, their

00:27:44 profitability.

00:27:45 So I would say that, you know, a little more clarity needs to come beyond February 29.

00:27:49 In fact, there have been some reports that some solution might be worked out by RBI in

00:27:53 the near term.

00:27:54 So once the solution comes in and the market is confident that this kind of, you know,

00:27:59 regulatory kind of compliance issue is handled properly by the company, at that point of

00:28:04 time, I think it would be better to jump in.

00:28:06 Even as of now, there's a lot of uncertainty surrounding Paytm.

00:28:09 So I think clearly it's better to wait and watch rather than making a call at this point

00:28:13 of time.

00:28:14 And wait and watch.

00:28:15 On the charts, Ajit, do you feel like the stock has made an intermediate bottom?

00:28:19 I'm not betting on a big sort of recovery here, but for the interim, do you feel like

00:28:24 it's found a little bit of a floor?

00:28:27 Yes, I mean, volume says so, considering that, you know, the recent volume on the first day

00:28:34 when the circuit opened, it was almost like 6 times of the average volume.

00:28:39 So in technical terms, we call this as a selling climax.

00:28:43 So yesterday is closed and today's, you know, circuit indicates that yes, there's a possibility

00:28:49 that we might see this, you know, rebound extending.

00:28:53 But as Avinash rightly mentioned that the uncertainty is still looming, you know, over

00:28:58 the regulatory.

00:28:59 So this prudent approach, especially in the market like this, when the index is trading

00:29:03 at record highs and we are seeing, you know, decent stocks and sectors trading, I feel

00:29:10 that traders should avoid any fresh positions at the current level.

00:29:13 Those who are stuck, you know, and they have made any trading bets, 450 should be their

00:29:19 stock.

00:29:20 In case if it again slips below this mark, they should definitely exit.

00:29:24 Okay, well, I think that's the long and short of it.

00:29:29 The other stock that has moved up quite a bit and before we hit that break, I think

00:29:33 we should capture this story.

00:29:36 It's arguably the top headline from the M&A space or the M&A space that could have been

00:29:40 but hasn't.

00:29:41 TRF has called off the merger with parent company Tata Steel.

00:29:44 The stock has risen 20%.

00:29:46 Varsha joins us to tell us why this move and on both sides, why is the stock done so well

00:29:53 and why is it that they pulled the plug?

00:29:55 Varsha.

00:29:56 So, if you see, TRF has hit 20% upper circuit now after its merger with Tata Steel calls

00:30:02 off.

00:30:03 Now, the merger announcement was made back in September 22.

00:30:07 Since then, Tata Steel has been giving operation and financial support to the company.

00:30:12 Now, Tata Steel says that TRF is witnessing a turnaround in its business.

00:30:16 So, maybe amalgamation is not needed.

00:30:18 But if you see from TRF perspective and merger was announced, the swap ratio was not favorable.

00:30:23 So, TRF shareholders were to get 17 shares of Tata Steel for every 10 shares held.

00:30:30 Now, if you see why stock price is up 20% today is, so considering yesterday's closing

00:30:35 price, if this deal were to happen, the shareholders of TRF would have lost almost 10% in trade.

00:30:42 So, which is, I mean, so this is the reason why the share price is up 20% because now

00:30:47 the merger has been called off so that 10% loss won't be to shareholders.

00:30:53 Right.

00:30:54 We will, thanks Varsha for that.

00:30:55 We will of course talk to Avinash and Ajit about TRF and of course the stock movement.

00:31:01 But we will take a quick break before that and while we do that, listen in to what RPA

00:31:06 Governor Shaktikant Das had to say about inflationary targets for next year at the World Economic

00:31:10 Forum in Davos.

00:31:12 You see, immediately after the Ukraine war, our headline inflation had touched 7.8%.

00:31:19 Now, thereafter, because of the monetary policy actions which we have taken, which was also

00:31:26 supplemented by, aided by the supply side measures taken by the government, inflation

00:31:32 has been steadily coming down and we are on our way to achieve reach 4% target.

00:31:38 But next year's average is expected to be 4.5%.

00:31:42 The positive aspect of it is that we are, our inflation is now well within the, you

00:31:47 know, the target band of inflation, but we are not satisfied with that.

00:31:51 We would like our inflation to reach 4% and remain around 4%.

00:31:57 Just let me complete that bit.

00:31:58 So therefore, that is our endeavor.

00:32:01 And the core inflation, there also the core inflation has now come below, you know, marginally

00:32:06 below the 4% headline target.

00:32:09 So we expect next year's average inflation to be 4.5%, inflation to steadily moderate

00:32:15 towards 4%.

00:32:16 Thank you.

00:32:26 Thank you.

00:32:48 Thank you.

00:33:14 Thank you.

00:33:42 Thank you.

00:34:10 Thank you.

00:34:38 Thank you.

00:35:07 Thank you.

00:35:36 Thank you.

00:35:58 Thank you.

00:36:24 Thank you.

00:36:50 Thank you.

00:37:18 Thank you.

00:37:46 Thank you.

00:38:07 Thank you.

00:38:35 Thank you.

00:39:03 Thank you.

00:39:31 Thank you.

00:39:59 Thank you.

00:40:27 Thank you.

00:40:49 All right.

00:40:50 Well, that was interesting.

00:40:53 The health of PSUs and it's kind of shining through the last few days.

00:40:57 PSU banks clearly are still standing out.

00:41:00 You know, this morning on Talking Point, we put out a graphic plate which showed, I don't

00:41:06 know if you can pull it up, but we should put out a graphic plate which showed how PSU

00:41:10 banks versus private banks, the gains over the last five years have been just exceptional

00:41:15 for PSU banks relative to private banks as well.

00:41:18 It's just an index of the PSU bank index versus the gains for the private banking space.

00:41:23 And quite exceptional really the gains that we've seen there.

00:41:26 Avinash, I don't know if we spoke about PSU banks on the show, but here's my question.

00:41:32 SBI leading the way today.

00:41:34 This is the plate that I'm talking about.

00:41:36 Look at that returns that the nifty PSU bank versus the nifty private bank index, one year,

00:41:41 three year CAGR or five year CAGR has just been exceptional.

00:41:44 Avinash, is the time ripe for a turn of fortunes where in private banks which have been lying

00:41:51 so low could come to the fore or do you believe there are PSU banks, Canada Bank is about

00:41:55 one time spoke, some others might be one, 1.2 times spoke, that there is still more

00:41:59 juice for the PSU banks versus the private banks?

00:42:02 Oh, definitely, Neeraj.

00:42:04 I think the banking system and the PSU banks over the last five to 10 years completely

00:42:10 transformed the legacy assets, the non-performing assets which they had.

00:42:16 I remember banks like IDBI Bank and Indian Overseas Bank had got asset qualities of as

00:42:21 high of 25%.

00:42:22 Now, today, it's a completely different story.

00:42:25 The frontline banks like Canada Bank, Banco Boroda, SBI, in fact, even PNB has done remarkably

00:42:31 well in terms of numbers.

00:42:32 So I would believe that there's definitely a large amount of scope to get further re-rating

00:42:38 in this pocket because this pocket has still remained a little subdued if you compare to

00:42:42 the other sectors which have outperformed.

00:42:46 My sense is that this may be a little slow and steady kind of sector, but it is a very

00:42:50 important sector for the economy with a budget of almost 11 lakh crores outlined on the capital

00:42:56 expenditure side.

00:42:58 My sense is that banks would be getting definitely a lot of business, both from corporate capex

00:43:03 as well as government capex.

00:43:05 And I think on the financial services side, many banks have diversified into other good

00:43:09 businesses.

00:43:10 And that actually will add to their bottom lines and their revenue numbers.

00:43:14 So typically, somebody who's got a long-term vision of at least a couple of years, I would

00:43:19 not be surprised that there's a lot of professionalism, there's a lot of accountability now which

00:43:23 has come in in the PSU banks, which earlier was not there.

00:43:26 So SBI, despite slightly disappointing numbers, our sense is that asset quality, the loan

00:43:31 book growth, the deposit growth, these variables are very strong.

00:43:34 And I think there was some one-time provisioning which impacted the profitability.

00:43:38 So I think investors who want to take a longer term call can still look at PSU banks if they

00:43:42 have at least an 18 to 24 month kind of timeline, because as Indian economy grows, I think the

00:43:47 banking system is bound to grow.

00:43:51 Okay.

00:43:52 Well, the banks are certainly a bust, the PSUs in particular.

00:43:57 I don't know if they form a part of some of the key movers on the F&O side.

00:44:00 SBI certainly might be.

00:44:02 Let's actually ask Agam what's standing out in the F&O space, index-wide as well as on

00:44:07 specific stocks.

00:44:08 Agam, good afternoon.

00:44:09 Good afternoon.

00:44:10 Well, it is the Nifty Bank Options weekly expiry, but it's been a quiet one so far.

00:44:16 But I'll talk about options in just a bit.

00:44:18 Let's address what's happening in the index futures and it's flat as far as the Nifty

00:44:22 is concerned, not too much added as far as open interest goes.

00:44:25 The Bank Nifty, of course, is advancing by around three-tenths of a percent point, but

00:44:29 not again, but less than 2% added in index futures.

00:44:33 What potentially is longs at least at the moment.

00:44:36 But in terms of options, of course, as far as Nifty is concerned, we are continuing to

00:44:40 see a lot more traction in terms of puts.

00:44:43 As you can see, the red bars where we have seen a little bit more resistance building

00:44:48 around 21700, 21800.

00:44:50 And in terms of your overall open interest picture, currently still we haven't seen too

00:44:55 much of a change.

00:44:56 So we're still looking at approximately an 800 point odd range as we move into trade

00:45:01 tomorrow.

00:45:02 We'll talk about the Bank Nifty and how things have shaped out there.

00:45:06 And of course, there, well, we have seen the Bank Nifty hover around 45800 and that's where

00:45:13 about we're most likely to see expiry come through.

00:45:15 Finally, in terms of stocks, let's pull up that list.

00:45:19 And so we do have longs in Delta Corp and Trent.

00:45:22 And of course, Naveen Florian under pressure because of a whole host of broken notes coming

00:45:27 through with cuts in price targets.

00:45:30 And in terms of stocks, we're just seeing unwinding.

00:45:32 Let's pull that up as well.

00:45:33 So short covering for Chambal Fertilizers, HDFC Life as well as AVB.

00:45:37 So keep an eye on these names as we move into trade tomorrow.

00:45:41 Okay, thanks a lot for that.

00:45:43 So you know, trade tomorrow is also punctuated by the RBI's MPC meet and economists expect

00:45:51 the vote to be in favor of the status quo.

00:45:53 More importantly, what the commentary could be is something that is in focus.

00:45:57 But Pallavi Johnson with more on this.

00:45:58 Pallavi.

00:45:59 Hi, Neeraj.

00:46:00 You're absolutely correct.

00:46:01 The India's Monetary Policy Committee is set to announce its decision tomorrow.

00:46:06 Now, we already know that it's likely to be a status quo both on the key lending rate

00:46:11 as well as the stance.

00:46:12 In fact, all 42 of the economists polled by Bloomberg expect a status quo.

00:46:18 But that's not to say that it's going to be a dull or a boring MPC.

00:46:23 We'll watch out for the governor's commentary, whether it's going to be a tad less hawkish.

00:46:28 We're also closely going to be tracking what the central bank has to say on key variables,

00:46:34 the economy, inflation and of course, liquidity that's likely to be in focus tomorrow.

00:46:40 Liquidity conditions have been persistently tight since the last policy and it is likely

00:46:46 that the central bank will continue its active presence in liquidity management, addressing

00:46:52 it through measures like the WRRR.

00:46:54 We've seen a lot of that off late.

00:46:57 Inflation of course, remains above the 4% target of the central bank.

00:47:01 In December, it came in at 5.69%.

00:47:05 That was because of elevated food inflation, while core inflation continued to provide

00:47:10 a sense of comfort.

00:47:12 What we've also seen a change from the last policy is that the commentary on the economy

00:47:19 has just continued to get better.

00:47:22 We saw the first advance estimates by the government presented for the preparation of

00:47:28 the budget and those surprised on the upside and continuing in line with that, we're expecting

00:47:34 positive commentary on the economic front as well.

00:47:38 Okay, we will watch out for that.

00:47:41 Thanks a lot for that, Pallavi.

00:47:43 And you know, things around ATM, things around PSU banks, what's happening there would all

00:47:50 be top of the mind tomorrow.

00:47:52 In fact, PSUs have been on the rise for quite some time.

00:47:55 What are the key themes to play under the PSU umbrella?

00:47:58 We spoke to Sridhar Sivaram of Enam Holdings earlier in the day.

00:48:01 Here is what he had to say.

00:48:04 The power sector looks very exciting.

00:48:05 I mean, this has been a sector which has been ignored for a long period of time.

00:48:10 I would say everything in the power sector is looking good.

00:48:14 Even the thermal side is looking good because India is under invested in thermal.

00:48:18 We are literally hitting peak capacity every day during the peak hours.

00:48:23 So we are seeing companies scramble to put more thermal.

00:48:27 We will double our wind capacity in the next three to four years.

00:48:33 We'll triple our solar capacity in the next three to four years.

00:48:38 So in the ecosystem, there is lots to play in this.

00:48:45 So I'm saying in the entire power space, be it thermal, wind, solar, there's lots

00:48:51 to play because the government is also playing favorably, which is they also want the commitments

00:48:58 that they have kept globally on moving green.

00:49:03 They want that to happen.

00:49:04 So I think this is a space to be watched out.

00:49:08 And entire ecosystem, I mean, individually, people have to figure out what is to be played.

00:49:13 But I think this is a space which we remain quite bullish on.

00:49:16 Okay, about time to get in closing strategies from our experts as well.

00:49:22 Actually, I haven't taken a fundamental call.

00:49:23 Avinash, can I come to you first?

00:49:25 What is it that you've seen recently that you have thought of investing money in or

00:49:29 have invested money in?

00:49:31 In fact, Neeraj, we have been very positive on the real estate basket.

00:49:35 And one company, which is Anantraj from Gurgaon, we have been investing in this company long

00:49:40 time back.

00:49:41 The company came out with its Q3 numbers yesterday, very strong set of numbers, despite the fact

00:49:46 that post results, there's been some selling.

00:49:49 But we believe that this year, the profitability will be around 230-240 crores compared to

00:49:54 150 crores last year.

00:49:56 And I think the cherry on the pack is basically the data center business.

00:49:59 The data center business is now getting scaled up to 21 megawatts.

00:50:03 And we believe that this is going to be a very strong earnings trigger for the company

00:50:06 because there are very few companies which have got a 300 megawatt installation capacity.

00:50:12 So I think this is one company where I believe the real estate market, the real estate business

00:50:16 will be the cash cow.

00:50:17 But the data center business is the growth opportunity.

00:50:20 So we are looking at a target price of around 375-380.

00:50:24 And the other company is a small specialty steel company, recommended earlier, Kalyani

00:50:28 Steels.

00:50:29 Now, this is a company which caters largely to Bharat Fudge requirements, very stellar

00:50:33 set of numbers.

00:50:34 The company should be posting earnings of almost 60 rupees in the current year and hopefully

00:50:38 around 73-74 for FY25.

00:50:41 So it is not a commodity play, a virtually debt-free balance sheet with 600 crores of

00:50:45 cash and very strong ROE return on capital employed numbers.

00:50:49 So I think here we could look at a target price of around 750-800.

00:50:53 It's moved up from 680 odd levels, but I still think on any dip, it should be acquired and

00:50:57 added to the portfolio.

00:51:02 And it came out with good results as well.

00:51:04 So keep that in mind.

00:51:06 So those are a couple of ideas.

00:51:09 A closing strategy as well from Ajit.

00:51:12 Ajit, maybe a BTSD or STBT as the case may be?

00:51:16 Yes, Neerath.

00:51:17 So DLF, in fact, in today's trade, we've seen a sharp breakout with volumes.

00:51:24 And now we feel that the only resistance that we have is the record high area, which means

00:51:30 it is going to be a multi-year high in that case.

00:51:33 So I think DLF still have more legs up from the current levels.

00:51:37 And with the kind of leg and sustenance post-breakout that we are seeing in the price, we believe

00:51:43 that maybe 860-880 is going to be the next target area.

00:51:47 So the risk-reward is still favourable.

00:51:48 So 810 should be the stop.

00:51:51 And one can wait for 860-880 levels in DLF.

00:51:55 And apart from that, Ultratech cement from the cement basket is finally swinging in the

00:52:01 way of the action and the way we are closing today.

00:52:04 There is a possibility that the stock might reach as the previous swing highs close around

00:52:08 10,500-10,600 in the near future.

00:52:12 So this is also something that one can add to their basket with the stop at 10,100.

00:52:19 Okay.

00:52:21 So that's a view on a couple of these BTST areas as well.

00:52:25 DLF seems to be a common name there.

00:52:27 So do keep an eye out for that one.

00:52:30 What else?

00:52:31 I mean, today, so by the way, some news flashes on your screen about Mankind Pharma promoters

00:52:35 to sell stake from tomorrow onwards till the 15th of February.

00:52:40 It's a small percentage stake, a percent and a half or thereabouts, just to bring down

00:52:44 a shareholding to comply with the minimum public shareholding norms.

00:52:48 It's a stock that has had a, well, standout results, if you will, this quarter as well.

00:52:54 And it's a business that has added some significant cash on its books.

00:53:00 The cash on the balance sheet doubled from March 23 until the quarter gone by nine months.

00:53:06 So it's just a cash generating machine, if you will, is Mankind Pharma if the last 12

00:53:11 months are anything to go by.

00:53:13 Any thoughts here, Avinash?

00:53:15 Is maybe some technical pressure likely tomorrow for now the stock is not reacting negatively

00:53:19 at all, but fundamentally, is Mankind Pharma a good business or you would probably look

00:53:25 at others?

00:53:26 I think, you know, they've been delivering very strong numbers.

00:53:30 And I think, you know, this is not a pure pharma play.

00:53:32 It is like a pharma and FMCG kind of play where basically they operate on a fairly low

00:53:39 asset kind of base.

00:53:41 So my sense is that, you know, the kind of products which they have and the kind of scalability

00:53:46 potential which they have, I think are in pockets where the pricing power is quite solid

00:53:51 and where I think margins would continue to get better.

00:53:54 As far as tomorrow's, you know, sellout by the promoters, it's a very marginal kind of

00:53:58 stake sale.

00:53:59 It does not make any impact.

00:54:00 But if it does any impact on the negative side, I think investors should use this opportunity

00:54:05 to accumulate the stock.

00:54:06 We believe the next two years are going to be even more stronger for the company.

00:54:09 So I think, you know, any decline in the stock, obviously, anybody who's got a long term

00:54:14 kind of view can definitely look at adding it on any day.

00:54:19 OK.

00:54:20 Point well taken.

00:54:23 What is not done well is actually Navin Florin.

00:54:25 Pull up that stock once just to show you how it's ending, if not at the lowest point of

00:54:32 the day, then certainly at the lower part of what it has done for a better part of the

00:54:36 trading day today.

00:54:37 Anushi Johnson with some of the views that have come in post this quarterly numbers.

00:54:45 Anushi, tell us.

00:54:47 Right.

00:54:48 So as we see, revenue, EBITDA and margins, all three measures took a beating over here

00:54:53 with again, but net profit though was able to beat the estimates.

00:54:57 But do note that this was on the back of an exceptional item worth 51 crore.

00:55:02 So if you had to look at what happened was the store ramp up in HFO plant, which was

00:55:07 one of the factors which led to this slowdown in the revenue growth, along with this, the

00:55:11 pricing pressure in the R22.

00:55:14 Another factor that we should watch out for is the postponement of sales that happened

00:55:18 for its key molecules in the CDMO business, where the management remains optimistic that

00:55:23 they are going to make a strong comeback in FY26.

00:55:26 So based on the results, there have been two brokerage reports in which Jefferies now have

00:55:30 a hold rating for the same, but have reduced their price target, whereas Citi also currently

00:55:37 has a buy rating, but has similarly reduced their target price to about 3,750 now.

00:55:44 So both have cited again the same reasons that they are expecting this delay in the

00:55:50 delivery schedules of its special chemicals which is going on.

00:55:55 Along with this pricing pressure in the R22 was another factor which led to this reduced

00:56:02 rating.

00:56:03 So this was on Navin Fluorine.

00:56:05 Okay, thanks a lot for that.

00:56:07 Now, you know, we're talking about PSU banks, it's not just SBI, Anushi, thanks for that.

00:56:13 So that is doing well.

00:56:14 At the same time, there are chemical companies like Navin Fluorine, which are not doing well.

00:56:18 IOB, by the way, is up some 20% if I'm not wrong.

00:56:21 So it's an interesting mix of companies which are moving up on news or sentiment versus

00:56:27 the ones which are correcting on results as well.

00:56:30 A technical and a fundamental view before we close the markets, fundamental view from

00:56:34 Avinash first on Navin Fluorine.

00:56:37 Is the pain in the price or are there better chemical companies because this one doesn't

00:56:41 even have an MD, they are still searching for one?

00:56:44 No, I think Neeraj, if you look at the last two quarters, numbers have been pretty disappointing.

00:56:49 And I think I still feel that, you know, at these valuations, it appears slightly pricey.

00:56:54 So I wouldn't like to buy the stock at the current odd levels, considering the fact that,

00:56:59 you know, FY25 is also going to be a challenging year.

00:57:03 Whatever recovery is going to happen, it is going to take off in FY26.

00:57:06 And the current price is something which still looks pretty expensive.

00:57:10 So I think, you know, within the chemical space, we would prefer something like an Aarti

00:57:14 Industries or typically, you know, auto ancillary company like Philips Carbon, PCBL, which,

00:57:19 you know, obviously makes carbon black and is not a directly a specialty chemical company.

00:57:24 But numbers here have been pretty stellar.

00:57:26 And I think the markets have already rewarded the stock in terms of a re-rating.

00:57:30 But going forward, looking at the kind of water treatment business which they have acquired,

00:57:34 I think that is going to be the next trigger for growth.

00:57:36 So I think Aarti Industries and PCBL, these could be better bets as compared to Navin Fluorine.

00:57:43 OK, some flashes on your screen about the life insurance premium, first year premium

00:57:48 for insurers being up 23% for LIC, if I'm not wrong, 31% market wide.

00:57:54 I think that is probably one reason why you've seen the life insurance companies.

00:57:58 They'll probably come up on the screen here.

00:58:00 Maybe you can pull up LIC, HDFC Life and some of the others.

00:58:03 And there's a sharp move there on some of those stocks.

00:58:06 And like I said, IOB too from the non-insurance space, but banking space, which has done very

00:58:10 well.

00:58:11 So before we wrap up, quick view here because we're very close to market close.

00:58:14 30 seconds.

00:58:15 Any of the life insurance plays and if not that, stocks like SBI or IOB, would you carry

00:58:20 home the longs?

00:58:21 Certainly, in the life insurance space, SBI Life is one consistent name that we didn't

00:58:28 see much participation on the downside.

00:58:30 And in fact, the stock is trading at the record highs.

00:58:34 Today it's ending on a flat note.

00:58:36 But the kind of consolidation that we have seen in almost like a month indicates the

00:58:40 possibility of further up move.

00:58:42 So yes, among all these names, SBI Life is one candidate that one can definitely look

00:58:47 at with 1420 being the stock and close above 1500 might result in up move towards 1650

00:58:53 plus home.

00:58:54 Okay, gentlemen, both of you, thank you so much for taking the time out and being with

00:59:00 us on the show.

00:59:01 Really appreciate your time.

00:59:02 But let's wrap up the markets on the note that the Nifty is flat, but the market is

00:59:06 not devoured of individual action.

00:59:08 There's some serious movers at play in the session today.

00:59:12 And that's been quite exciting to watch.

00:59:16 Bring up the heat map.

00:59:18 And let's just, we've kind of shown you what the stocks have done.

00:59:22 But what's happened is that SBI is only further strengthened its move and it's ending about

00:59:27 4.2% higher.

00:59:29 So really strong show put up by SBI.

00:59:31 And what's also happened is that Tech Mahindra has overtaken everything else and is now the

00:59:35 top loser on the index.

00:59:37 So we spoke today on the trade setup that it's very difficult to find reasons for why

00:59:41 IT could be doing well continuously.

00:59:44 And at close, IT is sulking.

00:59:47 Tech Mahindra, Infi, TCS, Wipro, well, all of them, HCL Tech down about half a percent

00:59:55 as well.

00:59:56 I know Ajit Mishra mentioned that he might want to go long on HCL Tech, but for now,

00:59:59 they're sulking.

01:00:00 That's the point I'm making.

01:00:01 Power Grid is the other one which is down about two and a half.

01:00:04 Adani Ports has a down day today.

01:00:06 So from amongst the pack, while others have done well, Adani Ports is down about 1.3%.

01:00:11 So that's a bit of an issue there.

01:00:13 And like I said, the Aditya Pillai group has had a good day today.

01:00:16 So Grasim, second best performer, is also strength, I believe, in Ultra Tech, which

01:00:22 is about 1.8%.

01:00:24 And somewhere I had also seen Hindalco.

01:00:27 I don't see it right now.

01:00:29 But Hindalco was amongst the top movers and it is just up about half a percent right now.

01:00:35 I must thank my production team for intimating me that it's on the third row.

01:00:39 So that's the long and short of what the large caps have been.

01:00:43 Just mark Nifty Realty if we can and get the gainers before we wrap up.

01:00:47 Because I think if you look at the broad end of the spectrum, either Nifty PSU or Nifty

01:00:51 Realty or Nifty PSU Bank, as the case may be, any of those would just give us a summation.

01:00:57 But if we can get the winners and the losers on Realty and either PSU Index or PSB, Nifty

01:01:04 PSB Bank Index, here, look at the kind of gains that are Phoenix, DLF, Soba, etc.

01:01:09 I've shown.

01:01:11 And then let's try and pull up any of the PSU indices.

01:01:15 And Nifty PSC is great.

01:01:17 There is weakness in some of the oil marketing companies today, but BPCL, HPCL.

01:01:22 But look at Power Finance, look at Oil India, REC and the PSP public sector banks, essentially,

01:01:28 which have had a great day.

01:01:29 So all in all, not a bad close, more so for the broad end of the spectrum, maybe, than

01:01:34 the large caps.

01:01:35 But a penultimate day to policy.

01:01:38 I think this is something that we would have accepted.

01:01:41 From all of us who have put this show together, thanks so much for watching.

01:01:44 Thank you.

01:02:03 Thank you.

01:02:05 Thank you.

01:02:06 Thank you.

01:02:07 Thank you.

01:02:08 Thank you.

01:02:13 Thank you.

01:02:18 Thank you.

01:02:23 Thank you.

01:02:28 Thank you.

01:02:33 Thank you.

01:02:38 Thank you.

01:02:43 Thank you.

01:02:48 [BLANK_AUDIO]

Why Is TRF Pulling The Plug On Merger With Tata Steel | India Market Close | NDTV Profit

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