Commodity plays, metals & mining, industrial goods and banking could benefit as the cycle picks up in the forthcoming quarters.
"Investors are shifting their portfolios and positions. On one hand, companies like Nykaa, Policybazaar have got fantastic appreciation as far as the listing journey is concerned. On the other hand, many more companies are coming up for listing and the investors who choose to invest in new generation stocks are shifting portfolios."
The benchmark indices closed with gains for the fifth session in the last six days as investors discounted the impact of the Omicron variant and preferred to buy shares at low levels. The Advance-Decline ratio was very favourable as investors sought to accumulate high-quality midcap names across sectors, including tyres and textile exporters. The 30-share pack Senex advanced 477.24 points or 0.83 per cent to close at 57,897.48. Its broader peer NSE Nifty added 147 points or 0.86 per cent to 17,233.25.
Sebi has placed new limits on the amount of shares existing shareholders of a company without a track record intending to IPO can sell under offer for sale.
Shares of healthcare stocks Γ’β¬β pharma companies and diagnostic companies Γ’β¬β jumped in trade today as the government got into battle mode to stem the spread of the Omicron variant.
Mazhar Mohammad of Chartviewindia.in said that clearing of the 20-Day EMA hurdle makes him believe that the index is heading towards its critical resistance point of 17,350 level where the 50-day EMA is present.
Γ’β¬ΕOur business model is completely derisked and the company has very strong fundamentals. Whatever percentage of growth we have seen in the last three-four years should continue going forward.Γ’β¬Β
For anchor investors, there will be a change in the lock-in period of the shares bought by them in the anchor issue of an IPO.
The partially convertible rupee strengthened well past the 75 per dollar-mark, settling at 74.65 as against 74.9950 at previous close. During the course of the day, the Indian currency, which had opened at 74.91, moved in a band of 74.6050-74.94 against the greenback.
Γ’β¬ΕIn the first six months, we are over the target of 15-20% on the top line and 30-40% on the bottom line, but we have maintained a little bit of conservatism because we were not sure if there would be a third wave and how it will impact consumer demand as well as supply.Γ’β¬Β
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