Deepak Jasani, head of retail research at HDFC Securities said fair value for the stock could be just above its IPO issue price of Rs 195. “Fundamentally, the bank saw a turnaround in the last six months and we need to see if this turnaround sustains,” said Jasani.
ITC has underperformed the BSE FMCG index which is down about 5 per cent in the last one month.
Investors are now looking at hospitals as many large pharma cos are facing regulatory issues.
Some fatigue is also visible in individual counters, with no major build-up of long positions.
SBI shareholders likely to have better chance of getting allotment even if they hold one share.
Most of the exits have happened from research, while one is said to be from the sales trading team.
Ujjivan Small Finance Bank raised Rs 303.75 crore from anchor investors on Friday.
The good news is that India will reach a bottom in GDP growth this year at 5.5% for the full year.
Corporate earnings growth revival remains elusive and investor sentiment is cautious.
We could possibly see a bit of a recovery in the January-March quarter, purely on a low base.
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