In fact, this entire PSU rally that we have seen for almost now about six months or so, it has been quite surprising for a lot of us. Though we might feel that because of the sheer price move that has happened, all the valuations are looking stretched.
Nifty reached record high of 22,124, which coincidentally translates into the date of the Ram Mandir s Prana Pratishtha ceremony on January 22. Investors find opportunities in 10 stocks related to Ayodhya temple, including Pakka Ltd, Kamat Hotels, and SIS Ltd. These stocks have seen significant rallies due to their involvement in supplying compostable products, opening new hotels, and providing security services for the temple complex.
The market correction is not confined to HDFC Bank only but is influenced by global markets and outflows across emerging markets. We should let the market stabilize for a few days. Midcap cement companies, Phillips Carbon Black, India-focused IT companies, MapMyIndia, Naukri, are potential buys. The best of the operating profit margins for crude beneficiaries like paints, tyres, OMCs may be behind them. A mini crude correction may present buying opportunities.
Hemang Jani says: “I doubt that the money would move from HDFC Bank to Bajaj Finance only. A part of the money could move into some of the insurance companies like ICICI Lombard or some of the other insurance companies where the trend is better. People may also have to rebalance and realign their allocation to the banking sector.”
The stock hit an all-time high of ₹900 as the company s market capitalisation rose to ₹5.64 lakh crore, crossing the listing day market value of ₹5.53 lakh crore.