Stay updated with breaking news from Itd Cementation. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
On the sectoral front, Nifty Realty surged over 2%, and Nifty PSU Bank rose 0.75%. Also, Nifty Auto, Financial, FMCG, Media, Metal and Pharma rose in early trade. In the broader market, Nifty Midcap100 gained 0.66%, while Smallcap100 surged 0.7%.
InCred downgraded SBI Card to reduce from ADD earlier and has also slashed the target price to Rs 600 from Rs 1000 earlier.
Historically, in an election year, two things happen: one some state governments tend to push for completion of infrastructure projects so that they may be showcased as achievements. Second, more money gets pumped into the system. This will have a trickle down effect on many parts of the economy and specially companies in contracting and construction. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".
India VIX was down by 3.39% from 11.07 to 10.69 levels on Tuesday. Volatility slightly cooled down but hovered in the previous days range and lacked momentum in the market.
The PE of aerospace and defence player Zen Technologies, which makes military training live-range equipment and anti-drone systems, has fallen from an average of 225 to 76.6. HDFC Securities said that given a large order inflow and revenue visibility for the next few years, some more rerating is possible in the stock.