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| 27 February, 2021, 09:31 AM IST | E-Paper

Nifty scales Mt 11,000: But just 15 stocks taking Nifty higher in 2019


Till February 5, the Nifty index was up 72 points on year-to-date basis.

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The 15 Nifty components that have moved higher so far in 2019 include Axis Bank, which has rallied the most at 17 per cent.


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Buying is select heavyweight counters continues to provide oxygen to the benchmark equity indices on Dalal Street. As a result, Nifty50 on Wednesday hit the psychologically important 11,000 mark for the first time since October 2018.

The 15 Nifty components that have moved higher so far in 2019 include Axis Bank, which has rallied the most at 17 per cent, followed by Reliance Industries (up 15 per cent), Titan (15 per cent), (up 15 per cent), Bharti Infratel (up 12 per cent) and (up 11 per cent).

nifty table 1

Third largest private sector lender Axis Bank recently posted a 131 per cent surge in net income for December quarter at Rs 1,681 crore boosted by a huge jump in recoveries from written-off accounts. Reliance Securities has a ‘buy’ rating on Axis Bank with a price target of Rs 750.

Oil-telecom behemoth Reliance Industries reported an 8.8 per cent year-on-year rise in October-December quarter profit at Rs 10,251 crore. Japanese brokerage firm Nomura has a ‘buy’ call on RIL with a price target of Rs 1,480.

Country’s second largest IT firm Infosys posted a 30 per cent drop in December quarter profit on higher expenses even as it approved a Rs 8,260 crore share buyback. Its net profit slumped to Rs 3,610 crore for the quarter from Rs 5,129 crore in the year-ago period, the company said in a statement.

Centrum is positive on Infosys with a target price of Rs 805.

Among others, shares of HCL Technologies, TCS, Asian Paints, Dr Reddy’s Labs, Tata Motors, Tech Mahindra, UPL and have gained up to 8.50 per cent so far this year.

HCL Technologies last week reported a 19 per cent increase in consolidated net profit at Rs 2,611 crore for December quarter and expressed confidence in meeting the higher end of its 9.5-11.5 per cent revenue growth guidance for FY2019. Centrum has a hold call on HCL Tech with a target price of Rs 1,125.

TCS posted highest-ever profit for Q3 at Rs 8,105 crore, but brokerage Edelweiss has a ‘hold’ rating on it due to rich valuations with a target price of Rs 2,137.

IT firm Tech Mahindra on February 5 posted a 27.5 per cent increase in consolidated profit after tax (PAT) at Rs 1,203 crore for December quarter. It had reported Rs 9,431 crore PAT for the corresponding period a year ago. Global brokerage firm CLSA has maintained an ‘outperform’ call on Tech Mahindra with an upward price target of Rs 810 (Rs 720 earlier). CLSA hiked revenue estimates for the IT firm by 1-3 per cent and margin estimates by 75-130 basis points.

Shares of Zee Entertainment and Indiabulls Housing Finance are down most at 23 per cent and 24 per cent, respectively, during the same period.

nifty table 2

Among others, shares of Vedanta, M&M, Grasim Industries, , Adani Ports, , JSW Steel, HPCL and Hero MotoCorp have eroded investor wealth by 10 -20 per cent since the beginning of this calendar year.

Hero MotoCorp reported a 4.5 per cent drop in its standalone profit after tax (PAT) at Rs 769.1 crore for the third quarter ended December 31 on higher expenses despite selling more vehicles in the period. Centrum has a ‘buy’ rating on Hero MotoCorp with a target price of Rs 3,500.

Till February 5, the Nifty was up 72 points for the year to date from its December 31 close of 10,862.

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The guide is here

For investors, the upcoming national elections are a force to reckon with. The Interim Budget has already given its cues.

Market participants are closely tracking the RBI policy trajectory, the first under the new Governor Shaktikanta Das.

There are other variables at play, too.

So, which stocks can come to your rescue with all these uncertainties around? Edelweiss Securities has stuck its neck out. We bring you its calls.

(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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2 Comments on this Story

Atilla Hun751 days ago
Very unhealthy sign
Varghese Thomas751 days ago
Excellent ! Credit mainly goes to ZEEL !
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