“We did pick up post results somewhat and would look to add if it corrects more. Then, during the budget time, I had said that a company which we own and which has also done reasonably well, SH Kelkar, which is on the flavours and fragrances side, so they have got a big order, the … Read more
The April-June quarter started on a soft note for Nifty with a sub 5% growth in profit after tax (PAT). This has led to a 2% earnings downgrade from Nuvama versus its earlier estimates of 15%. Cyclicals such as autos, industrials and metals faced earnings cuts while the same stabilised for IT and FMCG packs. … Read more
FMCG and pharma stocks have rallied by up to 23% over the last month, demonstrating their reputation as defensive bets. In contrast, the Nifty50 index has slipped into the red amid high volatility, with the India VIX rising over 27% during the same period. At the index level, Nifty FMCG and Nifty Pharma have returned … Read more
Aurobindo Pharma, part of the pharma space, has rallied more than 100% in FY24 but found some resistance above Rs 1,100 levels in January 2024. The stock underwent price wise correction since January 2024 and is now showing signs of bottoming out which suggests that bulls are ready to take the charge again. Short-term traders … Read more
Trideep Bhattacharya, CIO, Edelweiss MF, says: “It will probably take the next year for that improvement to come through. But the valuations over the next one or two quarters would be such that they may be good to add. On net balance, we were underweight on IT by about 300 bps at the end of … Read more
