Page 6 - Indus Tower News Today : Breaking News, Live Updates & Top Stories | Vimarsana

"Sanjiv Bhasin recommends looking at midcap IT and pharma stocks. Bank Nifty is oversold. HDFC Bank's poor performance has affected the Bank Nifty. Smaller cap banks look promising. IndusInd, Axis, and ICICI are worth considering. Midcap IT and pharma sectors have potential. Long-term investors should take this opportunity to buy good stocks. IDFC First Bank's NIMs are above 5%. IDFC First Bank is a fine option at Rs 80. GAIL, IndusInd, and HDFC are good largecap options. "

The recent $2.5-billion buyout of American Tower Corps India unit by Canadas Brookfield will give them more firepower to compete with Indus Towers. Both tower companies are expected to offer new products and aggressive rental deals while negotiating long-term tower contract renewals. This consolidation will result in two dominant towercos in the 3-player telco market, ensuring an overall balance in pricing power. Brookfield's acquisition of ATC India will also boost Reliance Jio's 5G rollout. The combined tower assets of Brookfield and Indus will account for 80% of the sector's tower assets in...

Sanjiv Bhasin highlights the performance of the midcap index and the earnings of companies like REC, PFC, NBCC, GAIL, IREDA, and Colgate. He expresses optimism about the Bank Nifty and the stellar performance of ICICI Bank and PSU stocks. He mentions the underperformance of HDFC and the potential impact on its stock price. He also discusses the merger cancellation of Zee Entertainment and predicts changes in its ownership. He suggests considering largecap banks like ICICI Bank and identifies potential opportunities in stocks like Dhanlaxmi Bank and Indus Tower.

The emerging industry of spiritual tourism, which focuses on inner peace and connection with the divine, has gained popularity, especially after COVID-19. The Ayodhya Ram Mandir in Ayodhya is expected to become a hub for spiritual tourism, attracting thousands of visitors daily. The government's efforts to revive tourism sites and the contribution of tourism to India's GDP make it an attractive sector for investors. Stocks in sectors such as hotels, travel, telecom, and infrastructure are expected to benefit from the growth of spiritual tourism.

As per analysts, the correction is likely to continue up to 20950-21000 but not linearly. There will be phases of dead-cat bounces from intermediate trading support levels. On the upside, it is unlikely that Nifty tests a new ATH at least in the Jan series. Immediate resistance has moved lower to 21850, above which 22100-150 will pose as a strong hurdle for the month.