Stocks that were in focus include names like Maruti Suzuki, which rose 2.53%, HDFC AMC, which declined 0.36%, and Adani Power, whose shares fell 1.63% on Wednesday.
The company s outperformance over its peers is fully priced in at the current valuations, Kotak said in a note as it slashed the stock s fair value to Rs 3,750, a 1.5% climbdown from Tuesday s closing price of Rs 3,811.
Nippon Asset Management is India s fourth largest mutual fund house with a high investor folio base. It benefits from a strong distribution network, proven track record, and improved equity market share. With a focus on the retail segment, it has seen superior growth and higher SIP contribution. Nippon AMC s operating leverage and revenue growth outlook is positive.
When a trader is expecting the stock prices to fall, he may sell the stock without owning that and buy at a lower price, for example, stock XYZ is trading at 100, a trader sells the stocks at Rs 100 and buys it back at Rs 90.