- #SBI, #BjajaFinance and #HeroMotoCorp lead the declines on the #Nifty50
- #TCS leads gains
Niraj Shah and Hersh Sayta dissect key market trends and explore what's to come tomorrow, on 'India Market Close'. #NDTVProfitLive
Guest List:
Dharmesh Kant, Head Equity Research, Chola Securites
Kunal Shah, Sr. Technical & Derivative Analyst, LKP Securities
______________________________________________________
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
- #TCS leads gains
Niraj Shah and Hersh Sayta dissect key market trends and explore what's to come tomorrow, on 'India Market Close'. #NDTVProfitLive
Guest List:
Dharmesh Kant, Head Equity Research, Chola Securites
Kunal Shah, Sr. Technical & Derivative Analyst, LKP Securities
______________________________________________________
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
Category
📺
TVTranscript
00:00 Motocorp, Auto, UPL Chemicals, BPCL yesterday did well but today coming back as well and
00:05 yesterday Adani Enterprises and Port were up in the green, today they are down in the
00:09 red as well.
00:10 Even Stevens for the gainers and the losers and while Nifty IT is doing well Infosys is
00:14 not but TCS is to my mind stock of the day 2.5% higher, some strength for Tata Motors
00:20 and again you know different courses, Hero Motors is down, Tata Motors is up, Bharti,
00:25 Aishwarya, a few others out there, very very stock specific moves that are happening but
00:31 Harsh the broader end of the spectrum has some very interesting moves despite the fact
00:35 that the index has slid considerably in the last 45 minutes.
00:39 Well yes absolutely Neeraj, we will talk about names but before that let me quickly highlight
00:43 the advance decline ratio which you were referring to, if we can have that you know there you
00:48 go, you will see that sharp divergence in the last hour or so of trade which Neeraj
00:54 was referring to and that pain is coming from the broader markets.
00:58 While we predicted the colour on the benchmarks Neeraj, the broader markets clearly not doing
01:03 as well.
01:04 Let me quickly pull out some specific names, you have the likes of Hind Rectifiers, that
01:12 one is buzzing up 10% on the back of an Audowind 200 odd crore, Paisa Lod Digital also was
01:21 on our channel earlier today, again IREDA has signed an agreement 200 crore of loan
01:27 disbursals through Paisa Lod Digital and that one is up in a way 4% higher, you also have
01:32 Happiest Minds, some bit of business line, you know streamlining of business lines that
01:40 they are going to be undertaking 4% higher on that one as well.
01:44 Let's pull up the likes of a Paytm, just out of curiosity on where that stock is settling
01:49 in at absolutely flat where we see it.
01:52 JK Cements down around 2.5 odd percent, 4.5 odd percent, sorry up 2.5 odd percent, Celo
01:59 up around 4.5 odd percent, both of those on Motilal Oswal notes buzzing in trade today.
02:06 Paytm of course slew of notes and along with it all of the news that's been surrounding
02:11 Paytm, I won't cover that.
02:13 CMS Infosystem, Dixon Tech, Vodafone all three of which are buzzing on the back of news,
02:18 all three of which are lower on the back of news and those three are also in focus.
02:24 Last off I want to mark out something like a Sriram Finance, that one has fallen sharply
02:30 midway through the day, it's currently trading roughly at the days, just off the days lows
02:36 in fact 5.5% lower that one as well.
02:40 Okay, let's get in our guest to try and talk about what to do in a scenario like this.
02:47 Kunal Shah, Senior Technical and Derivative Analyst at LKP Securities on the technicals
02:51 and the derivatives side and Dharmesh Kanth, Head of Equity Research at Chola Securities
02:55 on the fundamentals.
02:56 Gentlemen, good afternoon both of you, thanks for taking the time out.
02:59 Kunal, we've been getting this response from most experts on the opening of the closing
03:05 show about not quite seeing the need to trade the index because the index is doing virtually
03:12 nothing and keeping it very stock specific.
03:14 Is your approach the same?
03:16 I think exactly that is what we are seeing in the markets.
03:20 There is a sector specific approach which is working out.
03:23 If you look at the Fed line index, Nifty, Bank, I think they have been just consolidating
03:27 the market.
03:28 I know if you look at the large order undergone for the market, it's been relatively solid
03:33 from Nifty.
03:34 From Nifty as to give up closing about 22,200.
03:37 Kunal, I have to come in there because I think we're getting your audio slightly glitched,
03:42 we'll just try and get that corrected.
03:44 Dharmesh, can I come to you?
03:46 The markets for the last two, two and a half months have been almost flatlining a couple
03:50 of percentage points higher from the December 25, 26 period.
03:58 Par for the course and you reckon that is how it would be until valuations become a
04:03 bit more reasonable?
04:04 Yeah, definitely so.
04:05 I mean, that is what the market has been doing.
04:09 It's more of a sectoral rotation kind of game where incremental highs are not made on a
04:15 stock specific basis.
04:16 It's like to step up and again, then again to step down kind of an environment in which
04:22 the market has been trading.
04:23 Valuations has been very high as you have already pointed out and that's the only concern.
04:28 What is keeping the market up, I think is the liquidity.
04:31 So liquidity flow is so huge that the money has to be deployed and that is what is holding
04:37 the market up at the current levels.
04:41 Sharp, point taken.
04:43 Dharmesh, let's quickly mark out the stock of the day.
04:47 TCS definitely ruling the roost for the day, Neeraj and two, three levers which comes out
04:56 of that UBS note, which is why the stock is up and away in trade.
05:00 In fact, now, sitting at the day's high, sitting very pretty.
05:06 One is with regard to growth, they believe growth is going to come back in a stronger
05:11 way.
05:12 Plenty of levers that they highlight as part of the note for growth.
05:16 But more importantly, the margins, they believe a hundred basis point margin improvement warranted
05:23 over the next four to six quarters.
05:25 What they are saying is margins will largely be aided by attrition coming down, efficiency
05:32 starting to go up and all of that will aid the gross margin number by around 100 basis
05:41 points or so over the next four to six quarters.
05:44 They've given it 28 times earnings kind of a valuation.
05:49 4,700 rupees is now the target price, upped from 4,050 rupees.
05:55 Neutral to buy.
05:56 It's a big move that we've seen.
05:59 Dharmesh, quickly, if I can ask you for your views, is this now a time where IT is at an
06:07 inflection point?
06:09 Are we going to see more order wins come through, larger order wins come through?
06:13 And therefore, is this the start of a new cycle when it comes to IT?
06:18 Yeah, Arunachal, I will beg to differ on that count.
06:23 Let's see one more quarter and more larger order wins or the bigger order wins will come
06:28 from the AI led IT offerings.
06:32 So for that, I think still there is six to nine months to go.
06:35 I'm inciting DCS management himself, the CEO himself was very clear on the fact that the
06:39 texture of hiring will undergo a severe change.
06:42 So the type of people they are now hiring is more to do with AI thing and they have
06:46 just made that on, I mean, the agreements in place or memorandum of understanding in
06:52 place.
06:53 So for that product to be on the table, I don't think it will be before this calendar
06:57 year.
06:58 To say that bottom line is placed, definitely I don't see more downside for IT companies
07:03 from here, but who will gain the race and who will gain more business traction, order
07:07 wins that is still out for judgment.
07:11 So difficult to say at this stage.
07:14 Okay, Dharmesh, if I can pursue that point a little bit more.
07:18 Yes, there is some bit of skepticism within the IT pack, especially the larger names.
07:24 Do you prefer that mid-cap IT?
07:27 Is there at all a preference within IT for you?
07:30 Yeah, definitely there was.
07:32 I mean, KPIT or Amastech or Gensar, Billasoft, they all were looking good at a particular
07:39 point of time, maybe nine months down the line.
07:43 But the stock prices would have so fast just based on the news posts rounding their tie-ups
07:48 with more of their global counterparts as far as AI business offering is concerned.
07:54 And that is where the maximum traction has come.
07:56 So one is AI, the other is ERD space, so engineering research and development space.
08:01 Anything to do with that, the business has been good rather than the normal SaaS kind
08:06 of a platform offerings.
08:08 So there the business has taken a back seat.
08:09 So I'm waiting for some recent correction to set in in most of the mid-cap companies
08:14 to name a few, maybe KPIT Technologies or Amastech or Billasoft or Gensar.
08:20 If those stock prices come down, definitely I will be a buyer and say not at current levels.
08:25 Tata Electric is one company which does give a good risk-reward ratio even at current levels.
08:31 The stock prices corrected significantly.
08:32 I think it can be implemented for a longer perspective.
08:36 Right, take your point there.
08:38 Now let me switch focus, move it across to Ashwini Agarwal of Demeta Advisors because
08:43 we spoke with him or rather Neeraj spoke with him earlier today and asked him about what
08:48 sectors can you bet on as a defensive bet in this market?
08:52 Here's what he had to say.
08:53 I think as a defensive trade, I would say consumer staples in India and IT services
09:01 are both places where you're likely to lose less in case the market goes into a correction.
09:08 I mean, these are not fancied places to be for obvious reasons, but I think valuations
09:14 are reasonable, there is good management in place, cash flows are very, very strong.
09:21 So I think on a relative basis, these are places to hide.
09:27 Well, certainly in some means, some of these stocks have done really well for themselves.
09:34 What's come off a little bit of the boil today are some of the power-related names as well.
09:40 So REC is a prime example, 3.5% lower for that one.
09:43 We've seen some of the others to come off.
09:45 INOX, WIND, for example, was trading flattish the last time I checked.
09:49 So a clutch of these power names have looked slightly wobbly in the session today.
09:54 And Harsh was talking about Sriram Finance, a clutch of other financial names.
09:58 Home First is down 2.5% or 3%.
10:00 RBL Bank down about 3%.
10:01 IOB is down about 3%.
10:03 So financials are in some sense the broad end of the spectrum are just taking it on
10:08 the chin because some of them have moved down on fairly high volumes as well.
10:13 NB Housing too, down about a couple of percentage points.
10:18 Dharmesh, the valuations of some of the large banks have gone nowhere the last three, four
10:24 years.
10:25 If anything, they've come off.
10:26 The prices have gone nowhere.
10:27 Would you, if you had to put fresh money to work, bet on an HDFC, Kotak, ICICI, or would
10:33 you choose the second-rank financials?
10:35 Dharmesh, I would bet on the large caps, but there I would be selective.
10:41 I mean, ICICI bank is fine along with a desert bank rather than choosing a Kotak bank or
10:47 an HDFC bank.
10:48 The reason is very simple.
10:49 ICICI bank is still aggressive as far as lending is concerned.
10:53 Kotak has gone into its own time zone kind of a frame for the last three, four years.
10:59 They have not been very aggressive on the business fund.
11:02 What they have been doing is to keep the asset quality in check, but then you have to pay
11:07 a price which they have been paying.
11:10 And from the public sector space, I think Bank of Baroda and Canara Bank, these are
11:16 the two very aggressive players out there.
11:18 Valuation-wise, still comfort is there.
11:20 So to sum it up, basket of four where ICICI bank, and desert bank, Bank of Baroda and
11:26 Canara Bank from the banking space looks pretty attractive even at current levels.
11:32 And a clutch of other price volume buzzers as well.
11:34 We'll talk about some of these volume buzzers on the other side of this very quick break.
11:38 Stay tuned.
11:39 Dharmesh, stay on with us.
11:40 Stay tuned.
11:41 We will take a quick break.
11:42 Be back with more market action.
11:44 Thank you.
11:54 Thank you.
11:55 Thank you.
11:55 Thank you.
11:55 Thank you.
11:56 Thank you.
11:56 Thank you.
11:57 Thank you.
11:57 Thank you.
11:58 Thank you.
11:58 Thank you.
11:59 Thank you.
11:59 Thank you.
12:00 Thank you.
12:00 Thank you.
12:01 Thank you.
12:01 Thank you.
12:02 Thank you.
12:02 Thank you.
12:03 Thank you.
12:03 Thank you.
12:04 Thank you.
12:04 Thank you.
12:05 Thank you.
12:05 Thank you.
12:06 Thank you.
12:06 Thank you.
12:07 Thank you.
12:07 Thank you.
12:08 Thank you.
12:08 Thank you.
12:09 Thank you.
12:09 Thank you.
12:10 Thank you.
12:10 Thank you.
12:11 Thank you.
12:11 Thank you.
12:12 Thank you.
12:12 Thank you.
12:13 Thank you.
12:13 Thank you.
12:14 Thank you.
12:14 Thank you.
12:15 Thank you.
12:15 Thank you.
12:16 Thank you.
12:16 Thank you.
12:17 Thank you.
12:17 Thank you.
12:18 Thank you.
12:18 Thank you.
12:19 Thank you.
12:19 Thank you.
12:20 Thank you.
12:20 Thank you.
12:21 Thank you.
12:21 Thank you.
12:22 Thank you.
12:22 Thank you.
12:23 Thank you.
12:23 Thank you.
12:24 Thank you.
12:24 Thank you.
12:25 Thank you.
12:25 Thank you.
12:26 Thank you.
12:26 Thank you.
12:27 Thank you.
12:27 Thank you.
12:28 Thank you.
12:28 Thank you.
12:29 Thank you.
12:29 Thank you.
12:30 Thank you.
12:30 Thank you.
12:31 Thank you.
12:31 Thank you.
12:32 Thank you.
12:32 Thank you.
12:33 Thank you.
12:33 Thank you.
12:34 Thank you.
12:34 Thank you.
12:35 Thank you.
12:35 Thank you.
12:36 Thank you.
12:36 Thank you.
12:37 Thank you.
12:37 Thank you.
12:38 Thank you.
12:38 Thank you.
12:39 Thank you.
12:39 Thank you.
12:40 Thank you.
12:40 Thank you.
12:41 Thank you.
12:41 Thank you.
12:42 Thank you.
12:42 Thank you.
12:43 Thank you.
12:43 Thank you.
12:44 Thank you.
12:44 Thank you.
12:45 Thank you.
12:45 Thank you.
12:46 Thank you.
12:46 Thank you.
12:47 Thank you.
12:47 Thank you.
12:48 Thank you.
12:48 Thank you.
12:49 Thank you.
12:49 Thank you.
12:50 Thank you.
12:50 Thank you.
12:51 Thank you.
12:51 Thank you.
12:52 Thank you.
12:52 Thank you.
12:53 Thank you.
12:53 Thank you.
12:54 Thank you.
12:54 Thank you.
12:55 Thank you.
12:55 Thank you.
12:56 Thank you.
12:56 Thank you.
12:57 Thank you.
12:57 Thank you.
12:58 Thank you.
12:58 Thank you.
12:59 Thank you.
12:59 Thank you.
13:00 Thank you.
13:00 Thank you.
13:01 Thank you.
13:01 Thank you.
13:02 Thank you.
13:02 Thank you.
13:03 Thank you.
13:03 Thank you.
13:04 Thank you.
13:04 Thank you.
13:05 Thank you.
13:05 Thank you.
13:06 Thank you.
13:06 Thank you.
13:07 Thank you.
13:07 Thank you.
13:08 Thank you.
13:08 Thank you.
13:09 Thank you.
13:09 Thank you.
13:10 Thank you.
13:10 Thank you.
13:11 Thank you.
13:11 Thank you.
13:12 Thank you.
13:12 Thank you.
13:13 Thank you.
13:13 Thank you.
13:14 Thank you.
13:14 Thank you.
13:15 Thank you.
13:15 Thank you.
13:16 Thank you.
13:16 Thank you.
13:17 Thank you.
13:17 Thank you.
13:18 Thank you.
13:18 Thank you.
13:19 Thank you.
13:19 Thank you.
13:20 Thank you.
13:20 Thank you.
13:21 Thank you.
13:21 Thank you.
13:22 Thank you.
13:22 Thank you.
13:50 Thank you.
13:51 Thank you.
13:51 Back with India market close right here on NADV profit, a clutch of stocks buzzing in trade.
14:09 Anushi joins us with a list.
14:10 Anushi, good afternoon.
14:11 Afternoon, Iraj.
14:12 So right at the top, we have Uniparts India with a stock with an intraday high of about 16.9% now
14:19 with its volume buzzing about more than 23 times its 30-day average.
14:24 Now, while there are no fundamental drivers driving the stock performance, if you are to look at the Q3 performance,
14:30 a weak performance over here with 22% down in their revenue as well.
14:35 But the company remains confident on achieving a mid-team growth and improving its margins back in the 20% to 21% range going forward.
14:45 Next on the list is CMS Infosystems, about 15 times the volumes over here.
14:50 Again, this was after sources told NADV profit that the promoter, that is, Sine Investment Holdings,
14:55 is selling up to 26.7% stake of the company.
14:59 The floor price for the same had been set at Rs. 360, which was at a discount of about 9% compared to previous close.
15:05 Next is Mahindra Logistics.
15:07 Again, over here, a 10% gain over here.
15:10 While if you are to look at the company's performance over the course of just one month,
15:15 a flat performance about 0.2% gain, while in one year they have showed a return of about 17%.
15:21 Next on, we have Happiest Dermine Technologies, a 7% upside over here in today's trade
15:27 after the company announced a new vertical organization for its business comprising of six different industry groups in order.
15:36 This is again on their track to achieve a combined revenue of about $1 billion by year of 2031.
15:42 And lastly on the list is Intellect Design Area, about 6% of a move over here
15:48 with the volumes also buzzing at about 6 times its 30-day average.
15:52 The stock itself has been up about 22% in just this one month itself,
15:56 while in the sixth month the return has been about 53%.
15:59 So, these are the stocks in focus ahead of their volumes today.
16:04 Right. Thanks for that, Anushi.
16:07 You know, some few interesting names coming in there as well,
16:13 including some which are buzzing on the back of news.
16:16 You have the likes of CMS Info Systems.
16:18 We'll expect some amount of shareholding dilution to happen there.
16:24 I want to go across to Dharmesh once again.
16:28 Dharmesh, two quick questions, one on CMS and one with regard to Happiest Minds.
16:33 I know we've spoken IT, but I just want to cover the base here.
16:37 On CMS, dilution of shareholding, how do you view this entire announcement as well as what's your sense?
16:45 Second, with regard to Happiest Minds, this business group split that they are doing,
16:52 how much of that could actually contribute significantly to value getting realized on markets because the stock is up 4%?
17:01 Yes, I mean, both the stocks we don't track actively, so it would be difficult to comment on that.
17:08 I mean, fundamentally, I can't take a call on that.
17:11 Sure, I take your point.
17:13 Dharmesh, you have views on these before I take broader views of yours.
17:19 Kunal, you have views on these before I take your views with regard to the market.
17:25 So, firstly, if I look at the technical chart of CMS Info, I think recently the stock had been a very good outperformer.
17:35 But in the recent time, the stock has went into a big consolidation phase.
17:39 And the upper end resistance for the stock is placed at 400.
17:44 So, once it surpasses that 400 mark, we could see a quick rally towards 440-450 level, that is a 10% kind of a move.
17:51 However, the stock is taking a support at its 20-day moving average, which is placed at 375.
17:57 So, as long as 375 is sustained on the downside, one could continue to hold on to their long positions or even on any dips can add fresh long positions,
18:06 keeping that 375 as a stop loss and looking for upside first target of 400.
18:11 And once that is taken out, 440 will be on the cards very soon.
18:15 Okay. Kunal, before we talk about the markets at large, your stock ideas for the day?
18:21 So, firstly, we have seen, as we mentioned in the start of the show, there has been sector-specific action where we have seen the markets consolidating,
18:30 but some of the sectors doing very well.
18:32 So, I have a bullish view on power as well. I think from the current level, even power sector could do well.
18:38 One specific stock which I would like to highlight over here is Power Grid.
18:42 Power Grid, you have already seen that the stock on a technical chart has been trading in a strong uptrend.
18:47 Higher high, higher low formations are intact. The stock is trading above its 20-day moving average.
18:53 So, that's a short-term moving average support what it has.
18:56 And 300 is likely on the cards very soon, currently trading somewhere around 290-291 zone.
19:01 So, one can initiate long positions, keeping a stop-loss of 283 on the downside, looking for targets of 300 on the upside.
19:08 So, Power Grid would be my first pick. Second will be TCS, as you have seen.
19:13 Finally, the stock has seen some momentum buying in today's trading session.
19:17 And even on an intraday chart, you can see there is a breakout which is clearly visible on the chart as well.
19:22 So, one can initiate long positions in TCS as well, keeping a stop-loss of 3950, looking out for targets of 4400.
19:30 This will be for a 1-2-day kind of perspective where we can see the momentum building up in TCS.
19:36 Okay. Well, clearly, we are starting to see some kind of gains that we have seen on TCS today.
19:44 But remember, a fair degree of shorts have built up, I think, over the last week on these IT names.
19:53 I'm just wondering, Kunal, just before we move on, IT has seen short positions built up, right?
19:58 So, what does a move like this, if it continues, do for some of the stocks on which there were shorts for the current series?
20:06 So, I think, since we are heading towards the expiry, firstly, I think a lot of positions will get rolled over there.
20:14 So, the current month position will continuously get squared off.
20:17 But on the next expiry, I'm not seeing any fresh long rollovers happening on the short side for TCS and specifically for IT counters.
20:27 So, I think this could be a good short covering move what you will be getting over here in IT space.
20:32 And the broader Nifty IT chart has again given a bounce from a critical 20-day moving average.
20:38 So, I think you have a support on the IT index plus the stocks are again showing some momentum.
20:43 So, TCS is something which could do very well in the near term.
20:46 Sure. Thanks for that, Kunal. We've kind of covered most of the bases when it comes to IT.
20:51 We'll quickly put the spotlight on Indian OMCs.
20:54 My colleague Mihika Barve has put out a story on NTT Profit.com and joins in to help us understand if Indian OMCs are overvalued compared to global peers.
21:05 Mihika, give us that perspective.
21:06 Yes. So, the Indian OMCs have surged in the past month ranging from 19 to 27 percent,
21:11 fueled by factors like Brent crude prices ranging in the $74 to $84 per barrel and high global petroleum demand.
21:19 But despite the ramp up, the Indian OMCs trade at a much fairly lower EV to EBITDA multiple compared to their global peers.
21:28 Currently, the EV EBITDA multiples of the Indian OMCs trade between 3.59 to 5.02 with HPCL being the most expensive and BPCL being the least.
21:37 Now, globally, Chevron Corporation trades at an EV to EBITDA multiple of 13.27 and Saudi Aramco at 7.6 and ExxonMobil at 6.39.
21:46 Now, in terms of historical valuation, also the Indian OMCs are trading at least a 7-year low,
21:51 while global peers did have lower multiples in FY22 and 23 compared to current levels.
21:57 Now, OMC valuations are also down from their levels of FY20 where they ranged in 10 to 15 EV to EBITDA multiple due to the Russia-Ukraine wall that did impact their earnings.
22:08 But however, they have recouped their losses since then.
22:11 Now, in terms of potential for more upsides, stable Brent crude prices, despite the disruptions happening during the Red Sea or the production cuts by OPEX,
22:20 no government policies or no fuel rate cut announcements and the high demand could help margins.
22:26 Now, JP Morgan's latest note stated strong integrated margins with petrol and diesel margins nearing $20 per barrel.
22:34 According to an analyst at Yes Securities, government focus on expansion on energy transition and the elevated capex levels could also help clock higher profitabilities.
22:44 On the downside, however, despite the optimism, certain risks do dampen the rally.
22:49 Any increase in Brent crude prices could affect and narrow the margins.
22:53 According to CLSA, they note that the current prices might be pricing in a much higher than historical marketing margins.
23:02 And a 5-7 rally in crude prices could also not auger well for the marketing margins that the companies are currently enjoying.
23:10 Okay, thanks a lot for that, Mihika. So do watch out.
23:15 Remember, OMCs, while they had a good day in trade yesterday, in today's session, some of them are definitely sulking.
23:23 So it's a chicken and an egg simply because of the move that they've already had thus far.
23:27 And independent of the valuation, could they maybe see a bit of a corrective move?
23:32 I think that is the question on most minds.
23:34 Maybe take enough on that check before we take that break.
23:37 Kunal, firstly, how would you trade BP-HPIC?
23:43 See, firstly, Neeraj, I would like to talk on the nifty oil and gas chart.
23:47 So the breakout what we had got earlier, post that, we have seen a spectacular rally.
23:52 Now, the overall structure for the oil and gas is still in a bullish structure.
23:57 But every bullish structure will have a corrective phase.
24:00 So I think this corrective phase is likely to go a bit lower as well.
24:04 So I think this is not the right time to enter into these counters.
24:08 You might still get them at lower prices.
24:10 So whether it's an IOC, BPCL or an HPCL, even from the current levels of 4% to 5% downside is possible from the current zone,
24:19 where I'm seeing the momentum getting lost.
24:21 So the momentum will again come back once those corrections get over.
24:25 So my preferred pick in this space would be IOC, which is looking very attractive on the chart.
24:30 So currently trading at 173.
24:32 So if you get anywhere a dip towards 165, 166 zone, I think that would be a very good entry point where you can again initiate long positions.
24:41 Then 158 is a very strong support on the downside.
24:45 Post that level of 158, we saw a quick rally towards that 180 mark on the upside.
24:50 So I think again, we will get a sharp bounce from those levels.
24:53 So 165, 166 is what somewhere should be interested in buying.
24:57 Again, you can see upside 175, 176 clocking in the very short term.
25:03 Okay. Fundamentally, Dharmesh, are you a buyer there?
25:07 Whether IOC that Kunal seems to be preferring or the other two?
25:11 Yeah, I mean, just based on the replacement cost basis, the capacities on which this is a financial setting, it's still a double up from current levels.
25:22 But the point here is most of this company's profitability depends on the government policies.
25:28 For last one and a half year, that has been in favor.
25:31 Earlier, the policy was to benchmark petrol and diesel prices to what the international goodwill price behavior was.
25:37 But after the Russia-Ukraine thing, when it went to 125, $126 a barrel, they have not, you know, they took the buy side, but they have not rolled back those buy sides.
25:48 And that's the reason why the P multiples are so low, because earnings have been in their favor.
25:52 So it's largely dependent, their profitability is largely dependent upon the political policies in context.
26:00 So from that perspective, the stability is considered, I mean, continued.
26:05 It's still a good buy, but again, it's a flip-flop of a coin, depending upon which government and what are the government policies as far as the stock price structure is concerned.
26:16 So purely on valuation perspective from the placement cost, there's enough juice left.
26:21 So one can stay to be a buy in these companies.
26:25 Okay. Stay on, Jamin. So much more to talk about.
26:28 Wish we could talk about Bitcoin as well, because that's having a breakneck rally, but we'll make do with equities.
26:33 Take a break, come back on the other side and talk about the top buy today, sell tomorrow, sell today, buy tomorrow ideas.
26:38 And of course, some insights into conversations that stand out conversations that we've had during the day.
26:44 [MUSIC]
26:59 [MUSIC]
27:09 [MUSIC]
27:19 [MUSIC]
27:29 [MUSIC]
27:39 [MUSIC]
27:49 [MUSIC]
27:59 [MUSIC]
28:09 [MUSIC]
28:19 [MUSIC]
28:29 [MUSIC]
28:39 [MUSIC]
28:49 [MUSIC]
28:59 [MUSIC]
29:09 [MUSIC]
29:19 [MUSIC]
29:29 [MUSIC]
29:39 Welcome back. Thanks for staying tuned to India Market Close here on NDTV Profit.
29:43 You know, I have Agam standing by right off the bat to give us all the F&O cues for today before close.
29:49 Agam, what is the F&O data indicating?
29:53 Well, you know, the markets may have looked quiet, but there really has been a lot of traction within on an intraday basis,
30:01 largely because of the fact that it is firstly the expiry week.
30:05 So we do have a lot of unwinding in positions, and that's evident in the numbers that we're going to talk about.
30:11 But I'll start off with the Nifty. And it just so happens that while the Nifty is advancing by around 0.3 percent,
30:17 we are looking at fresh positions in the February futures to the tune of nearly 6.5 percent.
30:23 Do remember that this could potentially unwind over the course of the next 20, 25 minutes.
30:27 But, well, this is how things stand at the moment.
30:31 To talk about the Bank Nifty, and of course, remember the Bank Nifty expiry, the weekly option expiry is not tomorrow, but day after.
30:38 And we don't have too much traction as far as OI is concerned, but it's flattish at the moment.
30:44 Let's talk about the options market, and that's where we continue to see a lot more consolidation coming through around 21,
30:51 pardon me, 22, 100, 22, 200 calls and puts. And a lot of writing has happened around then as well.
30:58 In terms of today, of course, you know, we continue to see traction around 22,100 mark, because that's exactly where the Nifty is.
31:07 In terms of the Finn Nifty, well, we have seen that come off.
31:11 Actually, we should be going a lot lower, because we've seen it come off around 20,600 right on the lower end.
31:18 This is as far as your overall markets go.
31:20 Very quickly, talk about stocks too. Let's pull that list up.
31:23 So we have some shorts coming in Sriram Finance, but other than that, longs in Goldrich Consumer, ICICI, Lombard, TCS and SBI Life.
31:32 TCS perhaps is the Nifty stock of the day today.
31:35 And in terms of stocks, we're just seeing unwinding.
31:37 Short covering for Bata and Loris Labs on the other hand. Longs and winding in RBL Bank, UPL and Biocon.
31:43 So a mixture of trade as far as the stocks go.
31:46 But when it comes to indices, there is just an ever so slight volatility, which has increased in the run up to the final, well, you know, expiry date, that is day after.
31:56 But keeping an eye on that one, the Finn Nifty as well has seen its own share of sharp, sharp moves on the upside as well as the downside.
32:06 Okay, thanks a lot for that. So, well, watch out for some of these names for sure.
32:13 And, you know, amongst the other things where we're seeing some good action, to be honest today, is in the insurance space, not just today, the last few days.
32:23 In today's session, I think ICCI General Insurance seems to be doing okay and on pretty decent volume because of those blocks as well.
32:30 But just look at the kind of moves that some of these stocks are doing.
32:34 Now, Kunal, coming on, on this PSU insurers and what do you find on the charts for some of these?
32:44 I think if you look at Nira General Insurance, they have been doing extremely well, whether it's a GICRE or an NICL or ICICI Lombard.
32:53 So I think this up move is likely to continue. I think ICICI Lombard still has upside left from the current levels as well.
33:01 So I think it was one of the beaten down stocks and now it has seen a very good recovery in the last one to two months.
33:07 So the trend is quite positive. We are having an uptrend where high, high, high, low formations are intact.
33:13 On the daily chart, we got a fresh breakout in today's trading session.
33:17 The momentum indicator, that is the RSI, is crossing above the levels of 75-80.
33:23 Now, this can go up to 85-90 as well with the kind of strength what it had.
33:27 So even from the current levels, you could have a good BTSC trade as well. 1726 is where it is trading currently.
33:33 So at the current market price or if you get any dip or even in the next half an hour or so, utilize that dip to buy.
33:41 Keep a stop loss on the downside around 1700 and 6 and look for targets of 1760 to 1785 on the upside.
33:50 Sure. Point taken. Kunal, I just want to quickly ask you for your views with regard to a couple of sectors which are doing fairly well.
34:00 You're seeing a good half a percent gain on the Nifty Pharma, percent up on the Nifty Realty.
34:07 These are sectors where we've, or rather Realty more than Pharma, but we've seen good traction in some of these sectors.
34:16 How are you viewing it at the current juncture on charts?
34:22 So I think if you look at the sector specific approach, Nifty Reality still looks good and strong from the current level.
34:29 So there is still some upside left over there. So Reality could continue to outperform going forward as well.
34:35 But one sector which I would like to highlight over here where I can see a decent upside is Infra.
34:40 So Infra has a space that is a Nifty Infra chart, has again given a fresh breakout here and Infra stocks could do very well in the next one to two weeks as well.
34:49 So that is one sector which I'm extremely bullish on. You can on a sector specific or on an index perspective,
34:55 you can easily get a 3 to 4 percent kind of a move on the very short term, which equals to at least 8 to 10 percent kind of moving stocks as well.
35:04 So Infra is something which I'm very bullish on and this could do very well in the next one to two weeks.
35:11 Sure. Point taken. Thank you. Let me quickly go across to another stock which is buzzing in trade.
35:18 Sello World has been buzzing since the morning. If you see the intraday graph, you'll see that the stock was up.
35:25 Motilal Oswal has actually initiated coverage on this particular counter by rating 1100 is the target price.
35:34 Kanika joins us to try and break down what the note says. Why is Motilal bullish?
35:39 Thank you, Harsh. So Motilal Oswal initiates coverage on Sello World with a buy rating and a target price of Rs. 1100.
35:47 Based on the current market price, it implies an upside of a not 25 percent.
35:52 And this estimate, it is estimated that Sello will grow faster than the industry with robust revenue and EBITDA over FY23-26.
36:02 This growth will primarily be driven by expansion in SKUs and distribution reach facilitated by Sello's robust manufacturing capability with 13 plants spread over five locations.
36:16 The company is also building a new glassware plant at Falna, Rajasthan and is expanding its Opalware capacity at Daman.
36:24 And this growth will be coupled with strong improvement in the glassware segment post the commissioning of the new plant in Rajasthan.
36:32 With the presence across diverse product categories, it is expected to benefit from growing total addressable market at 13 percent CAGR over FY23-27.
36:43 But there are key downside risks that include volatility in key raw material prices, dependence on third-party manufacturers and intensified competition.
36:54 Thank you so much for that, Kanika. Really summing up that note.
36:59 Let me go across to Dharmesh taking his views with regard to Sello. Dharmesh, before that, do you at all cover Sello?
37:07 No, Harsh, we don't cover it. We have initiated research on the entire space, but right now we don't have a recommendation.
37:15 Sure, sure, sure. Point taken. Okay, let me go across then to Kunal. Kunal, I know it's a bit of a new listing, but in terms of charts, whatever limited visibility we have with regard to charts, what's the sense like?
37:31 I think, yes, exactly what you said that the data is very less, but whatever charts I have, what I can point out is that in today's trading session, the stock has given a gap up and there's a breakout in the stock.
37:43 The most important part is that it needs to sustain above this level. So, 850 was a resistance which we surpassed in today's trading session.
37:51 On the technical chart, there is also a falling trend line breakout what we have got. Now, sustaining above 850 is very, very important.
37:58 So, as long as we stay above this level, I'll be bullish. On an immediate basis, we can see a target of 900 into 930 on the upside.
38:07 So, even if you are holding, carrying long positions on the gap up, keep a stop loss of 850 on a closing basis.
38:14 So, any time the stock gives you a closing below 850, then you can unwind your long position.
38:20 Sure. So, that's the view coming in on charts. Quite a bit of a detailed view coming in there on charts. Thanks for that, Kunal.
38:27 But let me take it across to Dharmesh. Dharmesh, you know, Kunal has found that nifty infra is probably something that he looks as quite lucrative, especially on the technical side of things.
38:43 On the fundamentals, any one or two pocket sectors where you are finding value at this point?
38:51 Yeah, I mean, both infra and real estate is looking very attractive, given the fact that the numbers were pretty strong in the Q3 and the order book of most of these companies are still swelling and getting stronger.
39:05 And input prices are still benign. I mean, commodity prices, you look at any base metal for the last year, calendar year, it was all with a negative returns.
39:13 And this year, so far, they have not moved at all. In fact, they are tending in the negative direction.
39:18 So, this lower input prices, better execution, better infrastructure from the government is working well.
39:24 Most of these companies are now light on the dead side. Earlier, it used to be a big problem for them on the working capital as well.
39:31 And on the top of the interest rate cycle, I think there's plenty of scope. If the interest rate starts coming down, there will be plenty more legroom to the operating margin.
39:39 So, having said that, the stocks which we like from this entire space on the infra front is L&D.
39:45 I mean, it's a bemouth, I mean, there are many verticals to it, but infra is the mainstay out there, along with NCC.
39:52 And in the real estate space, we like Oberoi Realty, DRF, and Phoenix Mills.
39:57 So, these are the five companies which are investment, but any declines, it can be important.
40:04 Okay. Well, so, thanks for that. And it's interesting, the K crust of the curve.
40:11 I wonder what stocks like, like ETHOS, for example, is doing. I haven't spoken about that for a while, or a landmark cars.
40:18 And what is it that those stocks are doing? So, ETHOS, if you look at the last one year performance,
40:24 it's stellar on in the last three to six odd months, from maybe 12, 1300 all the way to 2700.
40:29 So, it's virtually doubled in six months about 69%. Yes, that's the kind of move.
40:34 It's had a really good move in the last 12 months, 177%. Landmark cars too, I think, would have done okay for itself.
40:40 So, this premium consumption plays are actually doing very well for themselves.
40:47 What is not doing well today are names like Dixon or Whirlpool, which both of which corrected a little bit.
40:58 And that's not across the space, by the way, because Havels, for example,
41:02 Whirlpool has actually bounced back because Havels is up about 2.5% on the Goldman upgrade.
41:07 But Jeffries downgraded Dixon and Whirlpool with a 10, 10 or 11% downtick suggested by the brokerage house,
41:16 as a result of which the stocks had started off much lower in Dixon's case also because the stock has run up quite a bit.
41:22 So, the price target that Jeffries has put out on Dixon is 5920.
41:28 On Whirlpool too, the price target that has been put out is about 10 odd percent lower than the current market price.
41:34 So, both of these are to be watched out for. Do you have a view, Dharmesh, on the EMS space?
41:41 Yeah, I mean, the only problem out there with the EMS space is the valuation part.
41:46 Just to name a few, I mean, last three months we came out with three initiating coverages.
41:51 And to our surprise, before the next quarter earnings was announced, all these three initiating coverages target price were achieved.
41:57 And this was based on FY26 kind of earnings. So, that's the scenario in which we are in this market,
42:03 when stock prices are moving too fast, not to, you know, undermine the fact that businesses are also doing well.
42:10 So, I mean, for Dixon Technology, there's no problem with the business.
42:13 They have been gathering market share left, right and center. And they are growing well.
42:17 But the point is the type of valuation they are setting on.
42:20 There's way too much. So, even, I mean, Jeffries has done with a 10-15 percent downgrade.
42:25 In my own case, I would look for a 30 to 40 percent kind of price cut for the valuation to have some semblance to the kind of good trajectory they are setting on.
42:34 Volkool has its own set of problems. So, it's like, I mean, every corner of the business is not doing well.
42:40 At the same time, there are managerial issues with that. And now they're in the pink of the input price kind of environment, cost environment.
42:48 So, I think if one has to go on the consumer durable space, Volta still looks good.
42:54 And Dixon Technology, if it corrects further from here, 10-15 percent being one of the monopoly kind of a business,
43:00 it is you hardly have any choices in the listed space in the segment. So, there it becomes attractive to buy and sell.
43:07 Okay. But 10-15 percent would be in or around the price range that I think Jeffries is talking about as the target price for Dixon as well.
43:18 So, keep that in the back of your mind. So, that's, well, a name to focus on for sure.
43:27 Another stock, of course, I mean, we spoke about how Sello World has been buzzing and that stock was active in the morning.
43:34 So, that's to be kept in mind. But so, some winners and some losers. Kunal, can I come to you on Dixon?
43:41 It's a derivative play as well. Did the charts look weak?
43:46 Yeah, I think if you look at Dixon, it has been one of the outperformer.
43:51 Recently, the stock had given us a strong breakout and there was a follow-up move which is there.
43:56 Now, based on the reports what we have got by the Jeffries, we have seen some correction on the downside.
44:02 The momentum is definitely getting lost because what has happened that the stock has been making a higher-higher formation,
44:09 but the momentum indicator that is RSI is not showing me strength. In fact, it is showing me a negative crossover as well.
44:15 So, if we sustain below this mark of 6,900 now, which has become a strong resistance,
44:21 we might see this correction going towards the levels of 6,500, which is the next support where the 20-day moving average also lies.
44:28 So, I think today if you look at the daily chart, probably we will have a doji candle kind of a close.
44:33 So, clearly an indecisiveness on a day trade basis. But if tomorrow we continue to trade below today's low,
44:41 then this fall will get aggravated towards that 6,500 mark. So, the structure looks weak.
44:46 I will be a wait and watch on this for tomorrow's trading session. If the follow-up selling pressure continues,
44:51 then I will be probably selling this Dixon looking for targets of 6,500 on the downside.
44:57 Sure. Thank you for that Kunal. Dharmesh, I want to come back to you. You spoke about valuations being slightly elevated.
45:04 I want to try and zoom in on a couple of PSU banks which are all set to raise money.
45:13 Let me pull up something like a Punjab and Sindh Bank, something like a Union Bank.
45:19 Both of those, Punjab and Sindh Bank, are now almost down 4%.
45:23 What do you make of valuations at this point in some of the smaller PSU plays?
45:30 And is this just a bit of money coming off the table, would you call that, within the PSU bank,
45:39 which will therefore, thereafter rather, lead to a larger rally? Is that how you look at it, Dharmesh?
45:46 My take is different on the PSU banking space. I would be sticking with the larger PSU banking space rather than the smaller ones.
45:56 And the reason is, the smaller ones are still miles to go as far as technological upgrade is concerned.
46:03 So most of the smaller banks are still lacking in the technological upgrade or the systems upgrade.
46:09 And they still don't have that bandwidth of the equity capital for growth.
46:15 So that is where the chunk of the problem arises for smaller PSU banks.
46:20 Among the larger ones, barring SPI, if you look at the Bank of Baroda or Canara Bank or even a PNB,
46:29 which is coming off lead from its own set of problems, they have still adequate capital addition ratio with the Casa base intact.
46:36 The CD ratio is very much in their favor. And they all have done all the advancement which is needed for faster growth of the AUM.
46:45 So, and valuations are still much comfortable. I mean, they are still trading at 0.75, 0.8 times price to book value.
46:51 In the case of PNB, it is again lower. It is 0.16 price to book value, one year forward multiples, if you are looking at.
46:58 So there I think the juice still left and those are the pockets. I mean, maybe post-election,
47:04 they are the ones who will run up faster than most of the others in the financial space.
47:09 So as a basket, these two stocks look much better. I would certainly avoid smaller PSU banks.
47:16 They had their run in the sun a few months back, but I think that is it.
47:21 Okay. Looking at some stocks which have corrected.
47:25 Today, the Adani Group stocks have come off a little bit. Adani Energy Solutions is down about 5%.
47:29 I think Enterprises and Ports were also looking slightly weak. I wonder what Adani Green is up to.
47:34 That stock should also come up on your screen. So some bit of, actually a bounce back from the lows of the day for most of these.
47:41 But certainly Adani Energy Solutions is down. Adani Energy is down about 5% for that one.
47:47 And Adani Enterprises too in today's session was amongst the key losers in the session.
47:56 So that's to be kept in mind. Some which are doing well include Railtel.
48:01 Has a smart move today, Railtel does. So big uptick there, 10.5% on very high volumes I might add.
48:09 So Railtel is certainly a stock to focus on. There is Intellect Design Arena which is up about 8%
48:14 and therefore a stock to focus on as well. So two or three names.
48:18 Mahindra Logistics is the other one which is up about 10% as well.
48:21 So pretty good moves into some of these. Any thoughts on this Kunal? On the charts, any of these two, three names?
48:28 See I think firstly if I talk about railway as a sector, earlier we had seen the entire pack moving together.
48:36 Now that will not be the case going forward. You will have certain outperformance by certain stocks
48:41 while the other stocks will keep on lagging on the downside.
48:44 So I think if we talk about Railtel, I think a very good strong breakout what we have already got in today's trading session.
48:51 I would not be a buyer at the current market price. Probably a day or two before I would be a very good buyer
48:56 at the current price at which it was trading. So for me currently, 455-460.
49:02 This could be a good zone where you can enter into long positions. That's a very strong support for the stock.
49:08 So if you get any dip towards that support zone, utilize that to buy.
49:11 The stock might hit that target of 500 on the upside on the technical chart.
49:16 The indicators are showing some good momentum building up. Both the RSI and MSCD are giving a positive crossover.
49:23 So this will eventually touch the levels of 500. But not a buyer at the current market price.
49:28 455-460 is the zone where you could enter. Keep a stop loss of 440 on the downside.
49:33 So let me switch it over. Dharmesh, any views with regard to railway stocks?
49:39 It's a structural story. But fundamentally, do you find any possible value mismatches in this space?
49:49 Hard to find. There aren't any value mismatches. Everything has shot up the roof.
49:55 And off late, there has been very high volatility in all these stocks. Be it RVNL, IRKON, RELTA.
50:03 So one day they are climbing up 10-11% and then they are sharply down.
50:07 So it's not a faint heart kind of trade-off to dive into these stocks.
50:13 And we were just, we had like on RVNL and IRKON, we had a high rating and we were just revising our numbers based on FY27.
50:22 Even there, the comfort was not there. After making enough 25% CAGR on the revenue,
50:28 these all companies look to be fairly priced on the upper end of the valuation multiple.
50:34 So the only advice is if you want to trade when there is a good connection, one can still buy.
50:39 Because there is nothing wrong with the structural story which is playing out.
50:42 And which will definitely play out in the required direction.
50:45 And as far as trading is concerned, one has to be very, very strong-hearted and lucky to get it right.
50:52 Sure, point taken. I also want to try and flag off something like a DCM Sriram.
50:57 Because that one has in fact gotten approval from the board for entering business into advanced materials.
51:06 Or rather venturing into the advanced materials business, downstream business for them.
51:11 Stock down roughly 2%. And you know, 1000 crore is to be invested in epoxy, raisins, downstream products, business.
51:22 Let me quickly take it across to Kunal first on charts.
51:28 I am not sure if Dharmesh actually tracks this. But Kunal on charts. Any views on this one?
51:35 So I think looking at the long-term chart, DCM Sriram doesn't look very attractive to buy at the current levels.
51:42 In fact, we can see some correction going on the downside.
51:45 If I look at the weekly chart as well, there has been multiple rejections around that zone of 220.
51:51 And the stock has not been able to surpass that mark.
51:54 So I think more correction on the downside, the stock could come around 195, 190 zone.
51:59 So I think not a buy at the current level for sure.
52:01 If you are holding it from lower levels, one can start looking for profits, but not to initiate fresh long positions.
52:08 Okay. Before we take in the closing strategies, and maybe one more from my end,
52:13 but another management that a lot of people might be interested in listening to is Paisa Rao Digital.
52:18 Stock that was buzzing in trade today, up about 9% at a point of time, still up in trade about 6%.
52:25 We spoke to the Deputy Managing Director, Santanu Agarwal, and asked him about the growth outlook of the company. Listen in.
52:31 So currently we are at an AUM of about 4,220 crores.
52:37 We were up about 40% on a year-on-year basis in Q3.
52:42 We are targeting very strong numbers with a very strong Keger return to all the investors who come on board.
52:49 But because we are listed, I cannot give a projection number which has not already been disclosed.
52:55 But all I can promise is it will be a good journey.
52:59 Right. But if there is any CAGR in your mind, any specific percentage at which you plan to grow, if you can mention that.
53:07 So we are planning to grow stably at about 25-30% Keger. That would be the ideal choice.
53:16 Well, interesting. They have also got a sanction and disbursement of 200 crores from IREDA for onward lending to the e-mobility sector.
53:26 So, interesting play there. And the stock is up and away in trade at least today.
53:30 But let me quickly take it across to Kunal. Kunal, top BTST ideas?
53:36 I think, as I mentioned in the show as well, Infraaz's space is looking very good.
53:42 So that is where my eye would be on. The stock which I would like to highlight over here will be from the cash market.
53:49 And the name of the stock is K&R Construction. I think after a long underperformance, the stock has finally given a strength breakout in today's chart.
53:59 So I think the stock has surpassed its 20-day moving average as well.
54:03 And the stock is on the verge of another falling trendline breakout as well.
54:07 So 280 is where currently the stock is trading. The 20-day moving average on the downside is placed at 273.
54:13 So that will be a stop loss on the downside. One can look for first target on the upside of 292 and second target should be 300 on the upside.
54:21 Okay. Kunal and Dharmesh, thank you so much gentlemen for joining in today and giving us your thoughts.
54:26 Really appreciate your time. Let's start wrapping up the markets, viewers.
54:31 And we are ending pretty much at arguably the high point of the day.
54:37 Bring up the intraday of the nifty ones. If I'm not wrong, this could be the high point of the day.
54:42 But let's just bring up the intraday. Not that it's a big bang move really.
54:45 It's a move in the narrow band. But yeah, in or around the high point of the day, if you will.
54:50 But yet another day wherein the daily candle is actually a very small body. So no big changes there.
54:57 The mid cap and the small caps in particular because the market breadth had worsened considerably in the last few minutes of trade or last for one and a half hours of trade.
55:08 So all the large caps are doing what they are doing. The small cap index now about 0.28 percent.
55:14 And if we can pull up the market breadth just for a moment before we get to the heat map and just show that it's kind of yawn and kind of stayed in those levels.
55:24 The heat map and just seeing if any changes before I hand it over to Harsh. So Tata Motors has had a really strong move.
55:31 It's eclipsed TCS as the as the better performing stock or the best performing stock on the index.
55:36 So not bad going for Tata Motors. I must say 2.8 percent is strength in IndusInd, Sun Pharma to an extent.
55:43 Powergrid and Hindalco doing OK as well. A lot more green than red. So a bit of an improvement seen there.
55:48 Hidomotocorp the top loser. Bajaj Finance the second worst performer. You're not seeing or you are seeing Asian paints in the top 10 losers.
55:56 But it's down only half a percent. So that is not a bad ploy. And SBI looks slightly weak in the session today.
56:02 So that stock kind of stands out too in trade. But clearly the winner has to be TCS or maybe Tata Motors Harsh.
56:09 Yeah absolutely. TCS Tata Motors probably within the large cap. But let me quickly try and focus in on a few names.
56:17 Well let me first start off with the top probably the top gainers on the mid cap because that one is probably the one which is sulking the most in trade.
56:27 Let me pull it up to something like a PB FinTech. That one is powering through in trade today.
56:34 You have also MacroTech which is doing fairly well. There you go 5 percent high on PB FinTech.
56:40 MacroTech as well as Sonacomps. That one is also flying away in trade. So a positive on those three at least.
56:50 Those are probably your top three winners on the nifty mid cap. Will be interesting to see what's happening with Sonacomps.
56:58 Probably merits a larger discussion maybe Neeraj at a later point. Let's take it to the losers. Vodafone Idea no surprise there.
57:06 PFC REC Divyani those are some of your losers. So QSR along with Vodafone along with you know your PFC and REC are probably leading the losses on the mid cap.
57:17 So that's the kind of flavor with regard to the losers. Some of the names which were buzzing which we spoke about at the start of the show.
57:25 Paisa Lo we spoke about that up 5 percent plus. Let's see where that's closing in on.
57:31 There you go, markets have closed.
57:33 But Paesalo, let's quickly see where that's closed on.