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00:00:49 Welcome.
00:00:56 You're watching India Market Close.
00:00:58 And it's looking like an afternoon
00:01:00 of a muted kind of a consolidated move
00:01:04 on the key indices.
00:01:06 The Nifty now in the positive territory,
00:01:09 but it's been circling in a range, the Nifty
00:01:12 and the Sensex both.
00:01:14 Broader markets, though, showing some kind of movement.
00:01:18 Don't mistake this for a day that has not been completely
00:01:21 newsy and has not seen action.
00:01:22 That's not the case at all.
00:01:24 So much has been happening from sugar stocks
00:01:26 that have been reacting negatively
00:01:29 to the government increasing FRPs for sugarcane.
00:01:33 Grasim has been the big story, as has Asian Paints.
00:01:36 And we'll get through all of that.
00:01:37 But you would not perhaps see that if you looked only
00:01:41 at what the indices were doing.
00:01:42 So the broader market's performing relatively better
00:01:45 than your top lines.
00:01:47 But let's pull up the heat maps as well
00:01:49 to see what has been working in today's market
00:01:52 and what that story is panning out to be.
00:01:54 Now, at the bottom of the barrel in that sense is BPCL.
00:01:59 And OMCs have been stuck there over the last couple
00:02:03 of sessions because of an anticipation and uncertainty
00:02:07 on whether most of the gains have already been priced in.
00:02:09 Two notes are backing that feeling as well.
00:02:12 Hiromoto is sliding once again.
00:02:15 This has been a continued trajectory
00:02:16 that we have seen over the last--
00:02:18 most of this trading week, actually,
00:02:20 on concerns of slowing sales compared to its peers.
00:02:24 But it's the banks today that are weighing down
00:02:26 the market, which is otherwise not really so negative.
00:02:29 HDFC Bank would be one of them.
00:02:30 And if I pull up top contributors
00:02:32 to the nifty decline, you will definitely
00:02:34 see HDFC Bank in that list.
00:02:36 So would a Kotak Mahindra Bank make it to that list.
00:02:38 There you have it, HDFC Bank pulling down 42 points all
00:02:43 by itself, as is Kotak Mahindra Bank, SBI.
00:02:46 So banks are weak.
00:02:47 Tech is doing OK.
00:02:48 Tech is doing OK relatively in the market today.
00:02:52 ITC is up because of a news report
00:02:54 that it's eyeing a stake in Pratap Snacks.
00:02:58 Advanced decline ratio, just let's
00:03:00 take a look at that very quickly and see what's happening there.
00:03:02 And you're seeing the kind of volatility on a day like that.
00:03:06 We started on a positive note, quickly turned the tide.
00:03:09 And then you've seen that gap narrowing all through round.
00:03:13 Not too much of a difference right now.
00:03:16 Your bulls have a slight edge, but that could truly change.
00:03:20 So range bound, volatile trade with a bit of consolidation.
00:03:25 But like I said, don't mistake it for a day with not too much
00:03:28 news because so much has been happening.
00:03:31 And Harsh has most of those details, isn't it, Harsh?
00:03:33 Well, yes, absolutely, Tamanna.
00:03:35 Let's pull up some stocks which are really buzzing in trade
00:03:37 today.
00:03:38 And let me start off first with ABB, which hit it out
00:03:42 of the park yesterday.
00:03:44 Did that today, as has done that today as well.
00:03:46 There you go.
00:03:47 8% higher on ABB, 9% higher on South Indian Bank.
00:03:51 Rights issue at 22 rupees a share,
00:03:54 currently sitting at 35 rupees a share.
00:03:57 So fundraising, never a bad thing for a bank
00:04:00 from a perspective that it means growth is here.
00:04:04 I'm going to quickly move on, though.
00:04:06 You have the likes of an NBCC, Salasa Techno, Home First.
00:04:09 Home First, of course, and a lot of this
00:04:13 being also Audevins.
00:04:15 Home First on the back of the fact
00:04:17 that they now can get into the insurance distribution
00:04:20 business.
00:04:21 Oil India on the back of favorable note
00:04:23 from Motilal Oswal is buzzing.
00:04:25 Outside of that, notes continue to trickle through.
00:04:28 You have Zee Entertainment as well,
00:04:31 which I want to mark out today.
00:04:33 And Paytm, those are the two stocks
00:04:35 that have dominated headlines over the last week or so.
00:04:38 But look at the way both of those are moving.
00:04:41 Not much of a movement in both of those today.
00:04:44 And that's why they make it to our stock list.
00:04:46 Let me also take it to Pratap Snacks ITC.
00:04:50 Pratap Snacks up and away in trade
00:04:52 on the back of a possible 45% plus stake
00:04:55 that ITC is going to pick up, if at all,
00:04:59 basis media reports, of course.
00:05:01 Then you have the likes of Eureka Forbes, which
00:05:04 is buzzing on the back of news.
00:05:05 You also have MTAR, NIBE.
00:05:08 Now, some names within the space pack
00:05:12 buzzing because 100% FDI allowed post approvals, of course,
00:05:18 within the space pack.
00:05:20 And you have MTAR as well as MIBE, both of which
00:05:23 are up and away in trade.
00:05:27 Last off, we have Bajaj Hindustan, Uttam Sugar,
00:05:30 Sri Renuka, all of the sugar stocks,
00:05:32 which are in focus on the back of change in MSP for sugarcane.
00:05:37 And that will impact some of those stocks.
00:05:40 And you'll see 2.5% knock on Bajaj Hindustan
00:05:43 as a back--
00:05:44 on the back of that tamanna.
00:05:46 In fact, let's take that conversation forward.
00:05:49 And I'm glad you wrapped up that entire relay of stocks, Harsh,
00:05:54 with sugar stocks.
00:05:55 Because we're speaking now with Atul Chaturvedi,
00:05:57 executive chairman of Sri Renuka Sugar,
00:06:00 to get a sense of the extent of the hit that we could see.
00:06:04 So Mr. Chaturvedi, thank you so much for joining us here
00:06:07 on NDTV Profit this afternoon.
00:06:09 Can you hear me?
00:06:11 Can you hear me, Mr. Chaturvedi?
00:06:13 Yeah, yeah.
00:06:14 There's hardly-- your voice is very, very feeble.
00:06:17 Oh, all right.
00:06:19 I'm not feeling very feeble, but I'll try and be louder.
00:06:22 And hopefully--
00:06:23 No, no, no, no, no.
00:06:24 It's much better.
00:06:25 Now it's much better.
00:06:26 Now our producers can turn the volume up.
00:06:28 OK.
00:06:29 So let me understand from you how much of a problem
00:06:33 is the FRP increasing by 25 rupees?
00:06:36 To put it in perspective, I believe last year
00:06:39 the increase was 10 rupees.
00:06:41 It's 8% higher than what was expected--
00:06:45 maybe that was on par in a pre-election season.
00:06:48 What is the margin hit for a Sri Renuka Sugar?
00:06:53 I don't think there's any margin hit going to be there.
00:06:56 This increase is going to be effective 1st of October.
00:07:02 It is for the new season.
00:07:03 So as far as the current season or current crushing period
00:07:07 is concerned, it will have practically no impact.
00:07:11 It might actually end up having a little positive impact
00:07:15 in the sense that we were earlier
00:07:18 anticipating that the production in the country
00:07:20 is going to be anywhere between 29 and 29.5 million tons,
00:07:25 which now seems to be closer to about 32 million tons.
00:07:29 And that was putting a little pressure on the sugar values
00:07:34 currently.
00:07:35 So I think this is a positive step.
00:07:38 And secondly, what we also anticipate
00:07:41 is that the farmers will now be not discouraged in planting
00:07:48 more and more cane.
00:07:50 And with the next year's monsoon likely
00:07:54 to be a normal or a good one, it's
00:07:58 a better time for the sugar industry,
00:08:00 contrary to what many people who are covering the sector think.
00:08:06 So I think it's a positive sign if the farmers are
00:08:09 going to be doing well.
00:08:11 No, OK.
00:08:11 OK, so--
00:08:12 And the industry is also going to do well.
00:08:13 I understand what you're saying, Mr. Chaturvedi.
00:08:15 And you're right.
00:08:16 You have to look at it holistically.
00:08:17 If 5 crore farmers do get a higher remuneration,
00:08:21 that's good.
00:08:22 So it's not black and white.
00:08:24 But having said that, the fact is that your input costs
00:08:27 are going to go up.
00:08:28 There is no visibility on whether you can charge more
00:08:32 or whether the MSP will go up.
00:08:34 I could stick my neck out and say it's unlikely right now
00:08:38 that before an election, any government
00:08:40 will want to increase the minimum sale price of sugar.
00:08:45 So how is this not going to impact your margins?
00:08:48 And why would you say it's positive?
00:08:51 No, at this point of time, the FRP increase has not come.
00:08:56 It is going to be coming effective 1st of October
00:09:00 with the start of the new crushing season.
00:09:03 There's a lot many months in between.
00:09:05 And by the time the next crushing season starts,
00:09:10 the elections will be over and done with.
00:09:12 And we are positive and we are 100% sanguine
00:09:16 that the MSP will also get increased.
00:09:19 And secondly, the price of ethanol
00:09:25 will also get increased because the understanding all along
00:09:28 has been whatever is the FRP increase,
00:09:32 there will be a simultaneous increase in ethanol price
00:09:37 as well as in MSP as well.
00:09:40 So we are not too worried on that count.
00:09:44 OK.
00:09:45 And it's still quite a way off.
00:09:47 OK.
00:09:47 So whatever is being planned or whatever has been announced,
00:09:52 it's normally this time of the year
00:09:55 you don't have this announcement by FRP.
00:09:57 But this year, things are a little different in the sense
00:10:01 that the farmer's agitation is already on in northern India.
00:10:06 And the government wants to send a signal across
00:10:08 to the keen farmers of UP that your interest will definitely
00:10:14 be protected.
00:10:14 And the keen farmer's interest is also
00:10:18 linked with the industry's interest.
00:10:21 So I'm sure [NON-ENGLISH SPEECH]
00:10:25 we can't wish one away.
00:10:29 No, no, I understand that.
00:10:31 And I think it's very clear why this is happening now.
00:10:36 The question is that how do you see production panning out,
00:10:41 Mr. Chaturvedi?
00:10:41 Because like you said, production levels
00:10:45 have been above expectation.
00:10:47 That also impacts prices.
00:10:49 So how do you see the situation shaping up to October?
00:10:53 No, our crushing season is likely to be over and done
00:10:59 with by mid of April this year.
00:11:02 And earlier, we were anticipating
00:11:04 a crop of about 29 or 29 and 1/2 million tons.
00:11:08 But we had not factored in the wonderful rains
00:11:13 during the month of October and November.
00:11:16 And we were basing all our decisions
00:11:18 based on the lack of rains in August.
00:11:21 But now what we are seeing in the crushing season
00:11:24 is almost something like 75%, 80% over,
00:11:28 that the sugar production is likely to be
00:11:34 closer to about 32 million tons.
00:11:36 And add to that another 2 million tons
00:11:38 of diversion towards ethanol.
00:11:41 So in terms of sucrose, what we are talking
00:11:43 is something like 34 million tons.
00:11:46 And it's important that the government diverts some more
00:11:51 of juice into ethanol so that we don't
00:11:56 need to carry the baggage of excess sugar
00:11:59 into the next year.
00:12:01 So I think-- and secondly, with the increase of FRP
00:12:07 already announced by the government for the next season,
00:12:10 I think this will sufficiently enthuse the farmers
00:12:14 to stick to cane production and vis-a-vis the competing crops.
00:12:19 Because the farmers are getting very good returns.
00:12:22 Their payments are in time.
00:12:24 And so I think it's a win-win situation for both the farmers
00:12:28 as well as the industry.
00:12:31 So Mr. Chaturvedi, Harsh also joining in.
00:12:34 I want to try and understand where does ethanol production
00:12:37 go from here?
00:12:38 Are you expecting to see a bump up from here?
00:12:41 Of course, the base has flattened a little bit,
00:12:44 if I can call it, if not fallen.
00:12:46 But it's flattened of sorts.
00:12:48 Do you expect it to start to creep up?
00:12:50 And by when?
00:12:52 No, we would want it to happen right away.
00:12:56 Because currently, the crushing season is on.
00:12:59 And the juice will only be available only
00:13:01 during the period when the crushing season is on.
00:13:04 And the government had based their calculations basis
00:13:09 that sugar production is going to be very low, which is now--
00:13:14 subsequently is now getting proof that it is not correct.
00:13:18 So I think the government also needs
00:13:20 to take a course correction.
00:13:22 We've been requesting the government
00:13:24 that you need to come up with more allocation of more
00:13:29 diversion of cane juice and B heavy molasses into ethanol.
00:13:35 Otherwise, we'll end up creating more and more sugar
00:13:40 at the end of the year, which is not going to help anyone.
00:13:44 Because the government will--
00:13:46 as a country, we need only about maximum 5 and 1/2
00:13:49 to 6 million tons of stock levels, which is sufficient
00:13:54 for about three months.
00:13:56 So beyond that, having stocks doesn't make sense.
00:14:00 So understood.
00:14:01 Thank you so much for all of that perspective.
00:14:03 Sugar stocks buzzing today on the back of that news.
00:14:07 But all of that perspective given by Mr. Chaturvedi
00:14:10 seems to suggest that it's not as bad as the market seems
00:14:14 to be reacting on some of these counters.
00:14:17 But let me quickly take it across.
00:14:20 Welcome both our guests on this show.
00:14:22 We have Vijay Chopra, who's the MD and CEO Enoch Ventures.
00:14:25 And we have Rajesh Palviya as well,
00:14:27 who's the senior VP technical and derivatives
00:14:30 research at Axis.
00:14:32 Rajesh, let me come to you first.
00:14:35 Markets volatile.
00:14:37 What's your sense at this point?
00:14:41 So generally, this is the common phenomena, especially
00:14:44 on weekly expiry days.
00:14:46 Yesterday, we see again volatility
00:14:48 due to Bank Nifty expiry, weekly option expiry.
00:14:51 And today, it's Nifty weekly option expiry.
00:14:55 But looking at the overall structure for market,
00:14:58 it's on the bullish side only, as we
00:15:00 have protected the important support area of 21,900.
00:15:03 That's the major put-based concentration for Nifty.
00:15:07 So that level is intact.
00:15:08 And again, we have seen pullback action from those levels.
00:15:11 Though on the higher side, 22,100, 22,200
00:15:16 are the major call concentration area.
00:15:18 So major short covering move will play out
00:15:21 only about 22,150 mark.
00:15:23 If we're able to take out those level on Nifty spot,
00:15:26 then we may see another round of short covering action.
00:15:29 And then possibly, Nifty can scale up
00:15:31 to the new all-time high trajectory also.
00:15:33 But till the time, we believe that there
00:15:35 was some consolidation is likely to be there in Nifty.
00:15:38 On the Bank Nifty, 46,500, that was the major put-based
00:15:42 concentration.
00:15:43 And again, Bank Nifty took support from those level.
00:15:46 And pullback action is visible in the today's session.
00:15:50 On the higher side, 47,000, 47,200
00:15:52 are the major call concentration area.
00:15:54 If we're able to take out those level in this pullback,
00:15:57 then possible short covering, we can see towards 47,600
00:16:01 to 47,800.
00:16:03 So both indices are holding the ground
00:16:05 based on their important support area for near-term trend.
00:16:09 So trend is likely to remain on the bullish side.
00:16:12 And towards the end of this FAB series,
00:16:14 we expect this momentum can extend.
00:16:17 And maybe again, we can see Nifty
00:16:19 to scale up to new all-time high trajectory
00:16:21 also in the continuation of this uptrend.
00:16:24 - So Rajesh, Vijay, if I can come to you,
00:16:27 we just had a chat with Atul Chaturvedi
00:16:30 to try and understand sugar better.
00:16:33 Not sure if you had a chance to listen in
00:16:36 on a piece of that, but your sense with regard to this,
00:16:40 this change in the sugar space,
00:16:43 if you can give us some of your thoughts on what you feel.
00:16:46 - Well, I think that there are a lot of turbulences
00:16:51 as far as the sugar sector goes.
00:16:53 First, they had a ruling on ethanol.
00:16:55 Now, they are increasing the MSP.
00:16:58 This is primarily political in nature.
00:17:00 But yes, I think I just heard a couple of sentences from you.
00:17:05 I joined in the midst of that interview
00:17:07 that the input cost is going to go up.
00:17:09 And Mr. Chaturvedi was iterating that,
00:17:11 we have a crushing season in October.
00:17:13 So we have a lot of time,
00:17:15 almost about seven, eight months to go.
00:17:17 So during this time, probably they have confidence
00:17:20 that something else would come up
00:17:22 or they might do some kind of a,
00:17:25 I would say miracle where sugar companies
00:17:29 will start making money.
00:17:30 Definitely in the last four, five years,
00:17:32 sugar companies due to ethanol
00:17:34 have completely changed their balance sheets.
00:17:36 Gone are the days when they were deep in red.
00:17:39 But now I think that this new ruling
00:17:43 and the increase in MSP of farmers
00:17:46 definitely would hurt the balance sheets,
00:17:48 especially the bottom lines.
00:17:50 So let's see how this works out.
00:17:52 Overall, I think that sugar prices have gone up
00:17:55 in the open market as well, in the global markets as well.
00:17:59 And the retail prices have gone up.
00:18:02 So the pressure has been passed on to the end customer.
00:18:05 Today, sugar, you want to buy sugar,
00:18:08 it is about 50, 51 rupees a kg.
00:18:10 While two, three years back, it was about 38, 37.
00:18:15 So there's a huge increase in the sugar prices,
00:18:18 which has been passed on to the end customer.
00:18:20 I think this would also be passed on to the end customer.
00:18:23 Why would any company take the brand?
00:18:25 So overall, I think that it's in the consumption theme
00:18:28 and companies would definitely come out of this,
00:18:32 these woods and they would do definitely something
00:18:35 to bring down their costs
00:18:37 or pass on the cost to the end customer.
00:18:39 - Right, absolutely.
00:18:41 So, you saw that confidence
00:18:44 in what the Sri Renuka sugar management was saying
00:18:47 that this FRP change is going to be implemented
00:18:52 only by October of this year.
00:18:54 And by that time, he's expecting the MSP
00:18:59 or the minimum selling price to also be at par
00:19:03 and everything to be passed on.
00:19:04 But there are a whole lot of stories
00:19:06 that we want to cover on the show today.
00:19:08 We're going to be talking about
00:19:09 what 100% FDI and space sector actually means.
00:19:13 We'll be having a conversation
00:19:14 with the Valtan Nagar management in just a bit.
00:19:17 We have to talk about the whole paints business
00:19:18 and what's happening there with Grasim's entry
00:19:21 with the Opus brand.
00:19:23 What does it mean for Asian paints?
00:19:24 All of that after a very short break.
00:19:25 Stay tuned.
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00:19:29,
00:19:31 and we'll be back in just a minute.
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00:22:30 - Bank Nifty showing a spot of weakness
00:22:42 just a bit before close in markets today,
00:22:45 but you know, I would say a decent recovery
00:22:49 from the day's lows on the Nifty.
00:22:51 Look at that chart, half percent up,
00:22:53 not quite at the day's highs, but closing in on it.
00:22:57 So the last bit of trade, last about 30 minutes
00:23:01 or trade doesn't seem to be too negative.
00:23:04 One sector which is definitely in focus today
00:23:07 is because of a cabinet discussion
00:23:09 or a cabinet announcement more or less,
00:23:11 which sees FDI norms easing in the space sector.
00:23:15 Now there are certain categories
00:23:16 where a hundred percent FDI has been allowed
00:23:19 via the automatic route.
00:23:21 It already existed via the government route,
00:23:23 but now even without government approval,
00:23:26 you can have a hundred percent automatic FDI
00:23:29 in satellite system manufacturing, ground and user segment,
00:23:32 74% automatic FDI in satellite manufacturing
00:23:36 and data products,
00:23:37 and 49% in launch vehicles and space ports.
00:23:42 You've seen a whole host of companies
00:23:44 in the space jump up today as a result of this,
00:23:48 including Valchand.
00:23:50 And we're speaking now with Mr. Chirag Doshi.
00:23:54 He's the MD and CEO of Valchand Nagar Industries.
00:23:56 Mr. Doshi, very good afternoon.
00:23:58 Thank you for joining us today on NDTV Profit.
00:24:01 Just want to get a sense from you
00:24:03 where the opportunities lie here
00:24:06 for the private sector and for your company.
00:24:10 Yeah, so thank you for having me.
00:24:12 I think this cabinet decision has brought a lot of clarity
00:24:15 to the opportunities that exist in the space sector.
00:24:20 I think there are certain areas that Valchand Nagar focuses on,
00:24:23 which is launch vehicles, where they've capped it at 49%
00:24:28 because that's a very critical part
00:24:31 of the entire space ecosystem.
00:24:33 And I think with government approvals,
00:24:35 we can of course take that beyond 49,
00:24:38 but for satellite communication equipment
00:24:40 and some of the more sort of component level equipment,
00:24:44 they've even gone all the way up to 100%.
00:24:46 So I think the first thing was we needed clarity,
00:24:49 which we've now got.
00:24:50 And I think now that gives us the opportunity
00:24:52 to go out there and look for foreign investors
00:24:55 who see the potential in the space program
00:24:58 to actually come in and commit some funds
00:25:03 for private expansion as the government itself is keen on.
00:25:08 Right, and so if Harsh also joining in,
00:25:11 trying to get perspective,
00:25:13 what's the kind of interest that's there
00:25:16 from foreign investors into investing in a space like this?
00:25:19 You of course will have your year very close to the ground,
00:25:22 but even outside of Valchand Nagar,
00:25:25 is there a lot of foreign investor interest in this space?
00:25:29 Yeah, so Harsh, you're right.
00:25:30 I mean, as part of founding members of ISPA,
00:25:34 we also get the opportunity to deal,
00:25:36 and I personally get the opportunity to deal
00:25:38 with a lot of startups.
00:25:39 And I think they were the ones
00:25:40 who were really having a hard time trying to get clarity
00:25:43 on where they could raise funds from
00:25:46 and to get foreign investors excited
00:25:49 about wanting to invest in their businesses
00:25:52 at a component level or at a sort of a satellite
00:25:55 as a service level.
00:25:56 And I think that clarity now gives the startup ecosystem
00:26:01 a huge opportunity to really get foreign funds excited
00:26:07 about India's entry and growth into the space sector.
00:26:11 As far as established companies like Valchand Nagar are concerned,
00:26:14 we already have investment in our public entity.
00:26:20 And so, yes, it will probably create the opportunity
00:26:24 for us to get a new group of investors.
00:26:26 But I think the startup ecosystem is really going
00:26:29 to get a boost from these decisions.
00:26:34 Give us a sense, sir, on what exactly from these categories
00:26:38 which have seen FDI loosened up,
00:26:41 we'll see the most interest
00:26:42 and how would it benefit a Valchand Nagar, for example?
00:26:46 Yeah, so I think the number one area is people,
00:26:49 you know, there was the, you know,
00:26:51 the Telecom Regulatory Authority that also came up
00:26:54 with its judgments on, you know, spectrum auctioning
00:26:57 and/or non-auctioning now.
00:27:00 But I think the satellite ecosystem
00:27:04 for both telecommunication usage as well
00:27:08 as for geo surveillance is going to get an incredible boost.
00:27:13 We already know that India is one of the cheapest places
00:27:16 to launch satellites from.
00:27:21 And therefore, I think as a result of the growth
00:27:24 that's going to come from the satellite sector,
00:27:28 India's privatization of PSLV, SSLV, and ultimately GSLV,
00:27:33 I think that entire upstream value chain is going
00:27:36 to get a big boost in the next three, four, five years to come.
00:27:41 Definitely a space to watch out for.
00:27:43 Thank you so much, Chirag Toshi, for speaking with us.
00:27:45 He's MD and CEO of Valchand Nagar.
00:27:47 That's stock up about 5% today.
00:27:49 In fact, the entire space, MTAR, Mishra Dhatu,
00:27:53 all of them are doing very well on the back of that.
00:27:57 That's really, in a sense, the new frontier,
00:28:01 every sense of the way.
00:28:02 Let's just pull up what's happening
00:28:03 with your telecom companies.
00:28:05 Data was out for the month of December.
00:28:07 And we could see some of those statistics.
00:28:10 You saw them on your screens as well,
00:28:13 where you had user numbers out for the month of December.
00:28:16 So net additions were 4.32 million users up from November
00:28:20 at 3.18.
00:28:22 Reliance Geo net added about 4, 3.99 million users
00:28:26 versus 3.45.
00:28:28 Let's look at what Idea did.
00:28:30 Net loss was 13.7 lakh users versus a loss of 10.7.
00:28:35 So that has actually deepened.
00:28:37 No difference that it's making to Vodafone, really.
00:28:40 But a lot of speculation around Vodafone separately
00:28:45 as well, where there was one note which
00:28:48 said that Hindalco may use some of those proceeds
00:28:51 from the Novelis IPO to revive Vodafone Idea.
00:28:54 I'm not sure if they're going to do it.
00:28:55 But perhaps that's what's boosting the stock as well.
00:28:58 Bharti Airtel is something we should look at very quickly.
00:29:01 Net additions have grown, not massively, to be honest,
00:29:04 18.5 lakh users versus 17.5 lakh users in November.
00:29:11 Let me just quickly go across to our analysts for the day,
00:29:14 Rajesh Pallavi and Vijay Chopra still with us.
00:29:18 Rajesh, anything in the telecom stack or space that you track?
00:29:24 I think after this corrective move,
00:29:26 Bharti is now recovering from its day low.
00:29:29 And looking at the overall structure,
00:29:31 the stock is in bullish trajectory
00:29:33 across all time frame.
00:29:35 Stock is now approaching to its 20-day moving average.
00:29:38 If at all the stock manages to cross above 1150 mark,
00:29:41 then it may continue its uptrend.
00:29:43 And then possibly we can see again all-time high trajectory
00:29:46 for Bharti Airtel.
00:29:47 So overall, the structure is bullish.
00:29:50 In this volatile market, one should use this decline
00:29:53 as a buying opportunity.
00:29:54 We believe that going forward, we
00:29:56 can see target towards 1,200 to 1,240 on the Bharti Airtel.
00:30:01 So one can look to buy this stock with stop loss of 1,080.
00:30:07 All right, speaking about the space, and of course,
00:30:10 we mentioned Vodafone idea.
00:30:12 Right now, Kumar Mangalam Birla is at a press conference
00:30:14 in Panipat where he's talking about Grasim's latest foray
00:30:18 this time into the pains business.
00:30:20 They say they're going to add 40% industry capacity
00:30:24 and want to reach a revenue goal of 10,000 crore rupees
00:30:27 in the next three years.
00:30:28 Remember, there's already one very dominant player
00:30:31 in this business.
00:30:32 Let's listen in to what Kumar Mangalam Birla is saying.
00:30:36 --an affinity with the dealers, the dealer network.
00:30:38 You saw many of them over here.
00:30:40 They've been our partners for, like I said, 30, 40 years.
00:30:44 And that's a right to win, one of our rights to win,
00:30:48 which is what made us look at this industry.
00:30:51 I don't think that we're looking at synergies
00:30:55 with any other business.
00:30:56 I think this is a strong enough synergy.
00:30:59 And I think the fact that we've been
00:31:00 able to sign up 3,000 plus dealers even before we started
00:31:04 to sell, I think is a huge testament to that.
00:31:10 --Sir, Tarun from Zee Business.
00:31:12 Sir, there are two questions.
00:31:13 First one, is there any plan to bundle with the cement
00:31:16 and paint?
00:31:17 Will you give any--
00:31:18 --No, no, not at all.
00:31:19 --Not at all.
00:31:19 Secondly, sir, you are talking about a decorative paint
00:31:23 segment.
00:31:24 Do you have any plan to enter into industry as well
00:31:27 as the commercial part of that?
00:31:28 --No, there's no plan at this point of time.
00:31:32 --Just a follow up on being the second largest player
00:31:35 by the end of three years.
00:31:37 Paint is also a valuation driver from a stock market standpoint.
00:31:42 Would you at some point look to demerge the paint business
00:31:45 and unlock value there?
00:31:47 --No, no.
00:31:47 We're just about launching and just creating
00:31:50 a new division in Rizal.
00:31:53 We've really not got any thoughts about demerging.
00:31:55 I don't think that that's in the offing at all.
00:31:57 --So I think, as I mentioned, our focus is our pricing
00:32:11 will be consumer-centric.
00:32:13 And there'll be assurance written all across the consumer.
00:32:17 Consumer, for us, the first and foremost frontier
00:32:23 that we have to win, win the hearts of consumers.
00:32:26 We will reach this paint into homes of consumers.
00:32:29 And our belief is that at the bottom end of the pyramid,
00:32:35 there is a crazy battle.
00:32:40 But at the top end of the pyramid,
00:32:42 the luxury and premium end, which is where India is going,
00:32:46 there is hardly any options available for consumers.
00:32:50 The quality of products that we have designed
00:32:53 allows us to be able to focus in a large way
00:32:58 on the luxury and the premium end of the consumers.
00:33:01 And we will make sure that consumers love us at that end.
00:33:06 --Sir, [NON-ENGLISH SPEECH]
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00:34:07 --Right.
00:34:07 Let me quickly mark out some stocks here.
00:34:10 You look at the likes of Indigo paints, down 2.5%,
00:34:13 ExxonMobil down 1-plus percent in trade.
00:34:17 So you're seeing a bit of that launch taking some bit of steam
00:34:23 out of some of the paint companies.
00:34:26 And we'll talk more about that on the other side
00:34:28 of this very short break.
00:34:29 Also, buy today, sell tomorrow ideas, F&O queues.
00:34:33 We'll look at the whole hog.
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00:38:56 --Welcome back. Smart recovery in the markets.
00:39:00 Nifty closing in on the 22,200 mark
00:39:05 up about 141 points, but the IT pack
00:39:08 are the winners of this afternoon, undoubtedly.
00:39:12 Look at an HCL tech up in trade about 3%,
00:39:16 a TCS, Wipro, Tech Mahindra, the entire lot of them
00:39:20 having a good afternoon. But what's happening in the F&O space?
00:39:24 Agama, I suppose there are quite a few people who are not having a good afternoon
00:39:28 looking at the recovery in the Nifty.
00:39:32 What's actually happened is that sharp, sharp recovery in the Nifty
00:39:35 has led to a lot of call writers running for cover.
00:39:39 And at one point in time, when it comes to just today's day of trade,
00:39:43 well, there were nearly four calls written for every one put written,
00:39:47 which means that there is a significant amount of people out there
00:39:52 who are traders out there who have written those calls
00:39:56 and have been completely forced out of their positions.
00:40:01 And that's evident in the kind of up move that we've seen
00:40:04 in the last half an hour of trade.
00:40:07 The Nifty now back above the mark of 22,200.
00:40:10 And that was a highly improbable level,
00:40:13 at least earlier in the morning, to have achieved that.
00:40:16 Because do remember that at one point in time, we were testing 21,900.
00:40:20 So that recovery has certainly taken a lot of traders by surprise.
00:40:27 But with that being said, that's evident in the futures,
00:40:30 you know, addition in open interest as well, nearly 5% added there.
00:40:34 Let's talk about the Bank Nifty and see how things go.
00:40:37 And we are looking at a near quarter percent cut there.
00:40:40 So this does seem like an expiry move on the Nifty,
00:40:44 not so much about the recovery in the broader markets.
00:40:48 And of course, the Bank Nifty is seeing some amount of
00:40:51 longs and windings coming through as well.
00:40:53 Now I'm going to talk about the options market.
00:40:56 Where, as I was telling you earlier,
00:40:57 we had a significant amount of positions around 22,200.
00:41:03 And well, it does seem like the Nifty at the moment
00:41:06 is currently trading above that, which means
00:41:08 the whole lot of the calls written around 20,000, 20,100,
00:41:15 well, all of those calls will be forced to be unwound
00:41:18 and perhaps not on desirable premiums
00:41:21 for all those who have sold those particular options.
00:41:25 Put writers, of course, on the other hand,
00:41:27 are certainly making a reasonably good day of trade,
00:41:31 especially when the start was very bad.
00:41:33 Do remember that we saw a sharp cut
00:41:35 as far as the Nifty is concerned earlier on in the session.
00:41:38 And moving on to, you know, how things have panned out
00:41:41 in today's day of trade.
00:41:43 Okay, so we need to move.
00:41:45 We have this, this isn't the correct picture.
00:41:47 Naturally, we started to see a lot more put writing
00:41:50 through the course of the latter half of the session.
00:41:54 So let's talk about stocks then.
00:41:55 And that's where we in fact do have longs
00:41:58 in Indian Hotel and ABB.
00:42:00 ABB are moving up another 9%.
00:42:03 So moving from strength to strength,
00:42:05 Kotak Mandir Bank, Jubilant Foodworks and Grasim,
00:42:07 on the other hand, under a tad bit of pressure.
00:42:10 And as far as your OI losers are concerned,
00:42:13 we're looking at short covering in Ashok Leyland,
00:42:15 RBL Bank, REC, NTPC and Tata Communications.
00:42:18 In the earlier slide, we have Grasim,
00:42:22 and it's very interesting that while the underlying
00:42:24 hasn't moved substantially, we are not only seeing
00:42:27 considerable amount of volumes in the cash market,
00:42:30 but also in addition in open interest as far as futures go.
00:42:34 So if you could just pull up the earlier slide
00:42:37 and very quickly take a look at Grasim.
00:42:39 So there you have, that's where Grasim is.
00:42:42 It's actually declining by, or rather advancing by,
00:42:44 less than 1%, less than half a percent.
00:42:47 So it will be interesting as to in which direction
00:42:51 are these traders and, well, a lot of these other investors
00:42:54 are building their positions as far as Grasim is concerned.
00:42:57 But as far as the Nifty goes, well, a surprise move
00:42:59 in the last one hour of trade.
00:43:01 Perfect, Agam. Thank you for that.
00:43:04 You know, while he was speaking about Grasim,
00:43:07 interesting thoughts coming through.
00:43:09 Let me take it to Rajesh as well, taking his views
00:43:11 with regard to both Grasim as well as the larger paint sector.
00:43:15 How is it looking on charts, on technicals, Rajesh?
00:43:20 So Grasim is now breaking out its consolidation zone
00:43:25 on the daily as well as on the weekly chart.
00:43:27 So looking at the overall structure, Grasim is looking positive.
00:43:31 And we believe that, you know, if the stock holds
00:43:33 about 2160 level, then possible upside target
00:43:37 we can see towards 2250 to 2300 in the continuation
00:43:41 of this up move.
00:43:43 So overall, the stock is moving in an up-sloping channel.
00:43:45 So I think one should hold their long position
00:43:49 and possibly we can see this uptrend is likely
00:43:51 to continue further.
00:43:53 If we talk about other paint stock like Asian paint,
00:43:56 so there is a pressure still in the Asian paint
00:43:59 and the stock is consolidating at the lower end
00:44:02 of this down move, which we have witnessed
00:44:04 in the last couple of months.
00:44:06 So for Asian paint, the major hurdle at this moment
00:44:10 is around 3060 until the stock not crosses those levels,
00:44:14 it may remain in the consolidation for some more time.
00:44:18 So Grasim is well placed, one should look to buy that stock
00:44:21 and we can see a momentum to continue
00:44:23 in short term basis for Grasim.
00:44:25 You know, this whole Grasim versus Asian paints
00:44:29 kind of narrative, I would say, and also because
00:44:33 the companies pitched it that way, that we want to become
00:44:36 the second largest player, 40% capacity addition,
00:44:42 10,000 crore revenue, you know, target in the next three years.
00:44:47 And in fact, they want to exit year one
00:44:50 with double digit market share. Vijay Chopra is a doable.
00:44:54 Can an Opus challenge an Asian paints in the market?
00:44:59 Well, challenge, yes, possible.
00:45:03 I would say likely, it would be difficult though,
00:45:06 getting a double digit growth in year one.
00:45:09 You know, they are, they can definitely,
00:45:15 you know, have, they have the, you know,
00:45:17 the distribution channel in place to do their cement business.
00:45:20 But again, you know, to topple down Asian paints,
00:45:24 I think that definitely is going to be a challenge
00:45:27 because, you know, Asian paints has its deep inroads already.
00:45:31 And so although I think that competition is always good
00:45:35 for the industry, good for the customer and customer,
00:45:38 maybe the pricing, there would be price wars
00:45:40 and the pricing would come down. This is quite likely.
00:45:44 But all said and done, I think that, you know,
00:45:45 I would buy an Asian paint around here, you know,
00:45:48 at around 3000 odd rather than going for a grassing
00:45:51 for paint business because Asian paint definitely has corrected,
00:45:54 you know, from the top of close to about 3600.
00:45:57 It is available at about 3600, it's gone from the top.
00:46:00 So I would say valuation wise Asian paint also looks very enticing.
00:46:06 And if somebody wants to buy for a longer term perspective,
00:46:09 let's buy Asian paints, you know, nibble into Asian paints.
00:46:13 As far as grassing is concerned, yes, they are quite aggressive.
00:46:16 They have to give aggressive numbers,
00:46:19 otherwise the street won't accept it at all.
00:46:21 You know, at this stage, if they are getting into a new business,
00:46:24 so they have to, you know, put all their, you know,
00:46:28 they have to go full throttle in case they want to achieve those numbers.
00:46:33 But that time would tell whether they are able to achieve or not.
00:46:37 But yes, I would recommend buying an Asian paint rather than grassing,
00:46:42 especially for the paints business.
00:46:43 Understood Vijay. And Vijay, just very quickly with regard to the structural story in paints,
00:46:49 you know, some of these valuations that we are seeing on some of these paint stocks,
00:46:54 40 plus earnings multiples that we are seeing.
00:46:58 Structurally, does the story change? Do margins change?
00:47:03 I know crude is stable and which is a big positive,
00:47:06 but over the longer term, it's not going to be likely.
00:47:11 That's what history tells us.
00:47:12 But structurally, do you see the story seems to have changed
00:47:16 in terms of pricing as well as margins for some of these companies?
00:47:20 Well, I think the margins are huge because the price increase has been passed on to the customer.
00:47:25 When the crude prices have come down, paint prices haven't come down at all.
00:47:30 So there are margins for sure.
00:47:32 And that's the reason why a behemoth like, you know,
00:47:35 Birla company is getting into paints business in such a huge way.
00:47:40 So, but again, it would take time for them to establish.
00:47:43 It's not easy to establish a brand in the minds of people.
00:47:47 You know, we talk a lot over TV shows and we know what's happening,
00:47:51 but the scores of Indians, you know, billions of Indians,
00:47:55 you know, who have Asian paints right on their tongue,
00:47:59 you know, they go to a shop, they will ask for an Asian paint.
00:48:02 So I think that it would take some time before people accept it
00:48:06 and the top of the mind recall happens.
00:48:09 So I think this business is good, great with the housing market increasing,
00:48:13 with the real estate market increasing and, you know, the size is increasing.
00:48:17 A lot of infra stuff is happening across India.
00:48:20 I think next 20 years we're going to see a lot of infra development happening.
00:48:24 So paints goes along with infra and housing and of course automobile.
00:48:29 So all these three sectors are great consumers of paints.
00:48:32 So the paint story is intact.
00:48:34 Yes, there would be a price war for sure.
00:48:37 But if, as I said earlier, that it's going to be good for the customer,
00:48:40 the customer will get a good product at a better price, I guess.
00:48:44 I'm just asking and I'm just actually chatting with my colleague,
00:48:49 Sajit Mangat, who's in Pani Bazaar right now and covering that press conference.
00:48:53 And this is exactly what I asked him.
00:48:55 What's the pricing going to be like?
00:48:57 Are we going to see a price war?
00:48:59 So pricing is going to be released in the first week of March,
00:49:02 is what he tells us.
00:49:05 And it's going to be based in the less for more coverage.
00:49:08 As I understand that, that means it will have to be competitive.
00:49:12 And that's what we will see.
00:49:14 You will see some sort of a price war.
00:49:16 The question is where it would pan out.
00:49:19 So, you know, that's the whole paint story.
00:49:23 But there's so much more happening in the market today.
00:49:26 And I just want to focus on a small cap called Pratap Snacks.
00:49:29 There was a report this morning in the newspapers that says
00:49:33 that ITC could be eyeing a pie or I would say a bite of Pratap Snacks.
00:49:38 The stock surged massively over the day,
00:49:41 nearly 14% at one point.
00:49:43 It's sped down now, up about 3% even so.
00:49:48 But the story is that ITC is possibly buying 47% stake in the company
00:49:53 through a venture fund.
00:49:56 Mahima is joining us with more.
00:49:58 Mahima, interesting to understand
00:50:01 why ITC would be interested in Pratap Snacks.
00:50:03 Right, Tamanna, as you rightly mentioned
00:50:05 that ITC might look for a bite in Pratap Snacks.
00:50:08 Well, as you rightly mentioned, it might acquire 47%.
00:50:11 Now, why is this?
00:50:13 I mean, this could be a strategic step by ITC
00:50:15 to expand its presence in region markets, one,
00:50:18 because Pratap Snacks is spread over in the tier 2 and tier 3 cities.
00:50:23 And also, if we check the trajectory
00:50:26 of how the revenues of Pratap Snacks have been by,
00:50:30 Pratap Snacks revenues somewhere in FY23 stood at 1600 crores.
00:50:34 And if we talk about ITC's FMCG sector, it was around 19,000 crores.
00:50:38 So, this forms approximately 8 to 10% of its revenue.
00:50:42 So, overall Pratap Snacks will add over 8 to 10% revenue
00:50:46 to the ITC's FMCG segment.
00:50:48 And if we talk about the net profits, the bottom line,
00:50:51 the bottom line of Pratap Snacks is nearly 20 crores.
00:50:54 So, the revenues, however, will add 8 to 10%,
00:50:58 but net profit, the bottom line addition won't be very significant.
00:51:00 However, also this is very important because this has happened
00:51:04 after when Pratap Snacks was actually required,
00:51:07 eyeing to acquire Haldiram, and this did not happen
00:51:11 because of the high valuations.
00:51:13 And also, a very important thing to note here is that
00:51:17 this would trigger an open offer of additional 26%.
00:51:20 So, at present, this is all we have on Pratap Snacks and ITC,
00:51:25 but let's see how it pans out to be once the press release comes out.
00:51:28 So, there's been nothing official on it.
00:51:32 I just want to pull up the day chart for Pratap.
00:51:34 ITC doing very well.
00:51:36 I mean, if the size of ITC pushes up to 2.5%,
00:51:40 then you have a superb thing.
00:51:43 By the way, let's not lose focus of the big picture here.
00:51:46 Nifty is at a record high, 22,233.
00:51:49 Look at the way that index has moved through the day.
00:51:54 The last 20 minutes has been the game changer, hasn't it?
00:51:58 And we must get a technical view on that as well.
00:52:03 What do you think is going on in the market right now
00:52:06 is the big question, Rajesh.
00:52:09 So, broad-based release taking place,
00:52:13 and most of the large-cap stocks,
00:52:15 which were consolidating since last couple of trading sessions,
00:52:18 now are given the breakout.
00:52:22 And short-covering action is clearly visible
00:52:24 in most of the call writers for 22,200, 22,300.
00:52:29 Strike is also witnessing call unwinding.
00:52:32 So, that clearly short-covering is taking place on the Nifty.
00:52:35 And I think this short-covering can continue further
00:52:38 as most of the call writers were confident
00:52:41 since last 2-3 trading sessions
00:52:43 that the market won't be able to take out this 22,200-300 zone.
00:52:47 But the kind of rally which we are seeing
00:52:50 in most of the large-cap stock,
00:52:52 that clearly shows that this rally can extend further
00:52:55 and towards the end of this fab series,
00:52:57 we can see further more higher level from here onward.
00:53:00 So, I think this rally can extend for tomorrow also.
00:53:04 One should now trail their stop-loss towards 22,100
00:53:07 to hold their long position.
00:53:10 Hold your long positions right now
00:53:12 with the kind of up-move you've seen.
00:53:16 Rajesh, any views on Nifty IT and Bank Nifty?
00:53:19 We are getting divergent views.
00:53:20 Nifty Bank also really recovering, I must say.
00:53:22 But Nifty IT up 2% today.
00:53:24 Any views on both these indices?
00:53:26 Yeah, Nifty Bank is also showing some kind of short-covering action.
00:53:31 But still, the important level which we are keeping eye
00:53:35 that is 47,000, 47,200,
00:53:38 these two levels are very important and critical
00:53:40 on Bank Nifty spot.
00:53:42 Until these levels are not taken out,
00:53:44 Bank Nifty may remain in consolidation.
00:53:47 Because still, the pressure is there from HDFC Bank
00:53:50 and some of the large-cap banks are still not contributing
00:53:52 to this up-move.
00:53:54 So, Bank Nifty may remain for consolidation for some time.
00:53:57 But Nifty is clearly outperforming.
00:54:00 If you talk about the Nifty IT,
00:54:02 that is also showing good traction.
00:54:04 And the kind of buying interest which we are seeing
00:54:06 in most of the large-cap IT stocks,
00:54:08 that clearly shows Nifty IT can scale up further higher
00:54:12 and possibly we can see a level of 38,500
00:54:16 to 38,600 for Nifty IT.
00:54:18 So, I think stocks like HCL Tech, Tech Mahindra and PCS,
00:54:21 these three stocks are looking promising at this moment.
00:54:24 And I think even Wipro is also looking promising.
00:54:26 So, I think these IT stocks may contribute to this Nifty IT
00:54:30 and possible one should look to buy this stock
00:54:33 as we see that near-term setup is positive
00:54:36 for HCL Tech, Tech Mahindra and Wipro.
00:54:39 Right. IT of course in focus.
00:54:43 We continue to build on all-time highs.
00:54:46 But let me quickly look at, also have a look at,
00:54:49 where sectorally we are at.
00:54:51 And what you will see is broadly all sectors pretty much in the green
00:54:54 except the Nifty Bank, around a tenth of a percent lower.
00:54:57 So, slight negative bias there on that one.
00:55:00 But outside of that, just look at some of the gains
00:55:03 that we have posted and from the bottom,
00:55:05 we have really seen a strong rebound across sectors.
00:55:10 But let me again take it to the FMCG pack.
00:55:14 Vijay, plenty of action happening with regard to consolidation.
00:55:19 We have seen several purchases made by the likes of a data consumer.
00:55:24 You know, the larger ones really pulling out their shopping basket
00:55:30 and doing their shopping.
00:55:32 ITC and Pratap Snacks, your view, is this firstly doable?
00:55:38 And secondly, what is the kind of synergy?
00:55:40 What do each of the companies get?
00:55:42 Because for now, both of them are 3% higher.
00:55:44 So, first things first, you talked about synergy.
00:55:49 I think that ITC has a large brand called Bingo
00:55:53 in which they have the likes of whatever, you know, Pratap is making.
00:55:58 I think a lot of products Bingo has also launched.
00:56:01 And Bingo has, you know, splendid wings over the last 10 years.
00:56:06 And, you know, I think that it is one of the preferred brands today
00:56:11 as compared to, you know, the likes of Haldiram's or whoever is there in the market.
00:56:15 So, apart from Bingo, they have Sunfeast where they have a lot of biscuits and stuff.
00:56:20 So, I think that there might be certain local pockets or regional pockets
00:56:26 where Diamond or, you know, Pratap Snacks is strong.
00:56:34 I'm sure that, you know, Maharashtra, Gujarat, they are very strong.
00:56:37 So, probably those markets ITC wants to capture.
00:56:40 And there are times when bigger companies take over smaller companies
00:56:43 and they quash the brand completely.
00:56:46 So, it might be a case, you know, Samsonite and a Destocrat,
00:56:51 you know, these are classic examples.
00:56:53 So, I would say that synergies definitely lie because they are in the same industry.
00:56:57 And ITC definitely wants to have a larger share of the pie.
00:57:03 Who knows that they take over, you know, Pratap Snacks completely.
00:57:06 But again, I'm not being confirmed through official channels.
00:57:10 This is just a news going around.
00:57:12 ITC has not confirmed as yet, but let's see.
00:57:14 If at all it happens, I would say that they would definitely want Pratap Snacks
00:57:19 or Diamond to be a much smaller brand than theirs.
00:57:22 So, that's one.
00:57:24 Secondly, we're talking about FMCG companies.
00:57:26 I think that, you know, there's a lot of hoopla around the valuation part
00:57:30 of FMCG companies.
00:57:32 Look at ITC.
00:57:33 I think that it's at mouth-watering levels.
00:57:35 Look at HUL, Darbar.
00:57:37 You know, these are great companies to latch on to with a longer-term perspective.
00:57:42 No problem at all.
00:57:44 I think that we're going to have a normal monsoon this year as well.
00:57:46 Interest rates seemingly, you know, last night we had a commentary from US
00:57:51 and even our RBI governor is talking about bringing the interest rates down.
00:57:55 This would definitely cheer up the market to a great extent.
00:57:57 Inflation has been more or less in control in India.
00:58:01 So, the inflationary pressures due to which the input costs were going high
00:58:05 for FMCG companies.
00:58:08 So, I think that's more or less in control.
00:58:10 So, FMCG should rebound.
00:58:12 So, my top picks would be definitely HUL, Darbar, ITC and Tata Consumer.
00:58:17 Got it.
00:58:18 Okay.
00:58:19 Thank you so much, Vijay.
00:58:21 I'm sorry I'm going to have to cut you off.
00:58:23 But if I can come back to Rajesh.
00:58:25 Rajesh, your very quickly buy today, sell tomorrow ideas.
00:58:30 So, first one is Bharat Electronics.
00:58:32 We are expecting target of 205 for BTSD point of view.
00:58:37 Keep a stop loss of 192.
00:58:39 Second stock is Aishwarya Motor.
00:58:41 Our stock is rebounding from its 220 day moving average.
00:58:44 We are projecting target towards 4050.
00:58:47 Keep your stop loss at 3910.
00:58:50 And the third stock is Jio Financial.
00:58:52 That stock is also breaking out of consolidation.
00:58:56 We expect this rally can extend towards 315 to 320.
00:59:00 So, Jio Financial is buy with stop loss of 297.
00:59:03 Yeah, absolutely.
00:59:05 Thank you so much, Rajesh and of course Vijay for joining us.
00:59:08 But let's turn focus to the last couple of minutes before close.
00:59:11 And what a closing it has been.
00:59:13 New levels have been breached on the Nifty.
00:59:18 Look at that number, 22,223.
00:59:23 In fact, 22,250 has been breached for the first time on the Nifty.
00:59:27 And all of this I would say in the last half hour or so,
00:59:30 we should actually pull up the line chart to get a line graph
00:59:33 to understand what the day has been like and how things have changed so dramatically
00:59:38 just in the last bit of trade for the markets.
00:59:42 Complete, you know, rock and roll kind of show right in the end.
00:59:47 What has pushed the markets up?
00:59:49 It's the IT stocks all the way.
00:59:52 They have emerged in the last 20 odd minutes or so in the Nifty IT as well.
00:59:55 You can see 2% up.
00:59:57 But if you look at the heat map, you will get a clearer idea of what has been boosting the markets.
01:00:01 Suffice to say that all of the stocks which were firing at the start of the day
01:00:06 did not really make it to the end.
01:00:08 Coal, coal India has jumped right in the end up about 3.5% during close.
01:00:15 Bajaj water stellar run continues.
01:00:18 I'm sure it's also the BTST idea that, you know, Rajesh Pallavia gave us.
01:00:22 ITC on the back of a news report on maybe inorganic expansion.
01:00:27 But all of it in HCL tech, TCS, all of them doing fabulously.
01:00:31 And Indus seeing a bout of profit booking.
01:00:34 But it's not just an Indus Ind story.
01:00:36 Whether it's an HDFC bank or Kotak Mahindra and SBI, all of them seeing a bit of pain.
01:00:42 But more green definitely on the screen rather than red today.
01:00:47 Just BPCL again showing signs of pain.
01:00:50 I want to quickly see if we can check what the other OMCs did at close.
01:00:54 Either an HPCL or an IOC because that was the recurrent theme.
01:00:58 And did they really do any better because of the way markets zoomed?
01:01:03 Not really. HPCL also down as is BPCL and IOC as well.
01:01:08 So that pain continues.
01:01:10 But the broader market is doing even better.
01:01:13 So this is a broad based story today, Harsh.
01:01:16 And something has changed in that last half hour.
01:01:18 Absolutely. Let's look at the advance decline as well.
01:01:20 And what you'll see is it's extremely interesting the way the day has progressed.
01:01:25 There you go. Look at the fag end here, Tavana.
01:01:27 And what we're seeing is a dramatic reversal.
01:01:31 So definitely we take home the goods.
01:01:35 I mean, it's a positive day.
01:01:37 But let's quickly shift focus to the broader markets.
01:01:40 Let's look at the nifty midcap in terms of where it stands.
01:01:45 There we go. 1% higher on the nifty midcap.
01:01:47 Pretty much the nifty midcap has moved along with the benchmark today.
01:01:53 So as the benchmark has recovered, the midcap index has recovered as well.
01:01:58 There you go. The nifty small cap, 0.6% higher as well.
01:02:01 Let's look at some specific names.
01:02:03 Tons of them, Tamanna, in trade today.
01:02:05 Let's start off with an ABB, which was stock of the day yesterday.
01:02:09 Continues to rule the roost.
01:02:13 Two days in a row. I think between the two days, up about maybe 18-19%.
01:02:17 Yes, yes. Nearly 20% higher over the two-day period.
01:02:21 And that one is, of course, on the cards.
01:02:23 South Indian Bank being a solid performer in trade today.
01:02:27 9.5% higher on that one as well.
01:02:30 You had NBCC, Salasa, Tecno, Home First, all of which are doing very, very well as we close out the day.
01:02:38 But let me focus in on some of the other names.
01:02:42 Let's pull up something like an MTAR.
01:02:43 Let's pull up something like a Midhani.
01:02:45 They've also done fairly well on the back of specific news.
01:02:48 So then we should see our sugar, how our sugar bunch ended at the end of it.
01:02:52 You know, Shri Renuka, Bajaj Hindustan.
01:02:55 If we can pull that one up.
01:02:57 So all of them, all of them down in the red.
01:02:59 So the themes were very clear.
01:03:01 Bad day for sugar, great day for anything linked to space, even defence to that extent.
01:03:08 Gratham and Asian Pains in the news for various reasons.
01:03:11 So is ITC.
01:03:12 But all of those are spots of what you've seen in the market.
01:03:15 The overall trend towards the end, the mood has completely changed.
01:03:19 And you have seen a fabulous close at 22,217.
01:03:23 We have to wrap this show.
01:03:25 So from Harsh, me and the entire team that puts together India Market Close,
01:03:28 thank you so much for joining us.
01:03:30 But stay tuned, a lot more coming up on the other side.
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