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Market expert Joshi praises TCS's outstanding financial performance, expecting a stock re-rating. Anticipates positive sector impact and growth in BFSI, energy, manufacturing, life sciences, and healthcare industries based on TCS's stellar results.
Nifty Metal led the losses, falling around 1 percent. Nifty Pharma, Infra and IT indices were also trading with losses. On the flipside, gains in Nifty PSU Bank, Auto, Bank, Energy and FMCG indices capped losses for the headline indices.
“While we did not expect any major announcements in this budget, the lower fiscal deficit coupled with higher capex outlay will aid continued momentum of India growth story. Both of these moves are enablers for a pickup in the private capex cycle,” says Ashish Gupta, CIO, Axis Mutual Fund
“There is a lot of value that the Street is probably giving to both these elements of businesses as well. For Jio, the equity value is probably coming out anywhere between Rs 725 to 775 on a standalone basis. For Reliance Retail, anywhere between Rs 1,250-1,350. So there is a broad construct in terms of the expected SOTP valuations within the entire group itself.”
“The untapped opportunity that Mukesh Ambani was speaking about probably exists and there are competition pressures in existence. A low-cost digital offering can probably ensure that consumers transition faster onto the platform. The tie-up with BlackRock on the asset management business and probably entering life insurance business. I am pretty sure the Jio Financial management will probably come out with a very elaborate presentation”