The valuation that the IPO demands is 34 times FY16 earnings, which is slightly expensive and does not give any margin of safety.
After a fall of 14% in the first two months of 2016, Nifty 50 shot up by 32% in early Sept only to fall 11% by the end of November.
Leading the pack was Coal India, which paid a total dividend of Rs 17,300 crore, up 32% from the year before. Mining co Hindustan Zinc was second on the list.
Softening inflation, manageable fiscal deficit and consumption-driven growth have helped. But global and local risks lurk around.
The overall growth rate in the past four years has been much less than what it was before.
Tata Steel's Indian business has been doing very well. The company may see some minor disruption in the near term, but that will be offset by a turnaround in its European business.
Rates of the alloy, which is used in production of steel, have risen in global market due to high demand from China and shortage in supply.
In terms of percentage, the biggest loser in the big bull's portfolio is the casino company Delta Corp, whose shares plummeted over 40% in the last 15 days.
India's largest lender SBI is likely to be the biggest beneficiary from the deposit rush driven by demonetisation as it'll greatly reduce the cost of funds.
The company's website says it holds patents in high-strength paper and its manufacturing process, some of whose features are similar to those likely to be incorporated in the new currency notes.
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