MOFSL.
You represent a HNI and an ultra-HNI crowd. What are they buying?
Given the kind of up move that we have seen in the markets, there is a lot of appetite for the midcap and small cap companies. We have been covering a few of them and retail in particular has a fancy for stocks which have a low absolute price compared to valuations. That is something we are seeing as a major trend particularly from smaller retail clients or clients who have come into the market for the first time.
So, within the midcap space, we have been liking companies like Indian Energy Exchange or Crompton Consumers, Havells some of the PSU names like Bharat Electronics, GAIL because that sector again is in the limelight and the absolute prices are not too high with some of them offering very high dividend yields as well.
Updated Dec 29, 2020 | 16:16 IST
Experts say, not too much upside from the current levels and buyback price of Rs 400/share, so one can tender in the buyback or exit in open market. Investors with a longer timeframe can hold the stock. Representational Image
Wipro buyback opens today December 29, 2020 and will end on January 11, 2021
Buyback offer of Rs 9500 crore at a buyback price of Rs 400/share (current market price Rs 385/share)
India’s top tier software company Wipro turns 75 today and Wipro’s Rs 9500 crore share buyback offer opened today December 29, 2020 and will last until January 11, 2021. Shareholders on the record date (December 11, 2020) have the opportunity to tender shares at a buyback price of Rs 400 per share.
Sun Pharma, Lupin, Bharti among large caps and Crompton,
LIC Housing and Aditya Birla Fashion among midcaps, says
Hemang Jani, Equity Strategist & Senior Group VP,
MOFSL.
Did you tell your clients to cut some of the trading positions when midcap stocks collapsed by 5% to 15% and on Tuesday did you tell them to buy again?
It is a little bit of a wishful thinking that one is able to catch the exact correction in the market. We have seen time and again that when somebody tries to do that too often, one misses out an opportunity. Our view is that we are seeing a fair bit of positive data points and the overall earnings upgrade cycle is in.
Hemang Jani, Equity Strategist & Senior Group VP,
MOFSL.
The Christmas or Santa Claus rally continues on D-Street with 13600 in sight. Where are the opportunities to buy afresh or book profits?
We are in a sweet spot. We are seeing positive noises from the management. The data points by and large are good and what is very important to note is that the flows across the emerging markets have been quite strong and the dollar is weakening. This is a classical bull cycle that we have gotten into. We have run up so much and we are quoting at 21-22 times. We have not seen this type of a move for past four years one will be tempted to believe that this is a top but I think rather than focussing too much on some small corrections which will come on the way, it is very important to focus on what kind of upside we can see over the next two-three years. That is how we would be positioning at this point of time.