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“We give credence to future profitability and that is where at least in few companies which have been listed recently -- whether it was on the new age businesses or even on the specialty chemical side -- we find the valuations to be totally out of whack with at least the future cash flows. ”

In September, brokerage firm Morgan Stanley said India’s inclusion in the global bond indices will attract foreign flows worth $170 billion to $250 billion over the next decade.

The regulator has asked the agricultural commodity exchange not to allow any new position in respect of the running contracts but only squaring up of position.

“The investment in TVS Motor in the India long-only portfolio will be removed and replaced by an investment in infrastructure play Larsen & Toubro given the rising hopes of a capex cycle in India,” Wood said in his weekly Greed & Fear newsletter.

Brokerage firm Kotak Institutional Equities, however, is of the opinion that the power shortage in the country is more seasonal in nature than a representation of a structural issue.

“Both the central bank and the government have clearly prioritised growth over inflation or any other challenge.”

Multicap funds saw the biggest inflow at Rs 3,569.45 crore while sectoral and flexicap funds drew investments of more than Rs 2,000 crore each.

“Market now looking towards Q2 earnings and the potential of a Fed taper in the next month or so.”

Reliance led from the front today with the broader markets seeing action across pockets like exchanges and select midcap names. State-run banks, which have heavy exposure to Air India, were sought after ahead of a press conference by the Civil Aviation Ministry.

As of 30-Jun-2021, promoters held 54.8 per cent stake in the company, while FIIs held 24.94 per cent and domestic institutional investors had 9.07 per cent.