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what to expect from Jan auto sales numbers

Sahil Kapoor of DSP Mutual Fund, discusses the upcoming budget and its impact on the market. He highlights two important numbers to watch out for: overall expenditure and gross market borrowing. The state wants to know how strongly the government will go on the path of fiscal consolidation and what kind of capex they promise. There may be a slowdown in capex expenditure compared to the last two-three years, but the overall number is expected to be closer to the previous years.

Sun Pharma reported better-than-expected earnings with EBITDA margins beating expectations. The stock reacted positively to the news. Voltas had weak performance, particularly in the project business, but the market reacted positively, possibly due to short covering. Blue Star, on the other hand, had strong results and a positive outlook. Battery companies like Exide and Amara Raja are showing good traction, but we have a neutral rating on them and prefer to invest directly in the OEMs. Our top picks are two-wheelers, with Hero Moto leading the pack.

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Top stocks that led the rally on the Nifty Bank index included names like PNB and Bank of Baroda, which were up over 4% each, SBI was up more than 3% and HDFC and ICICI Bank closed with gains of over 1% each.

According to the new regulation, FPIs holding over 50% of their Indian equity AUM in a single Indian corporate group and those having more than Rs 25,000 crore of equity assets under management in Indian stocks are required to provide granular details of all entities with any ownership, economic interest, or control rights in the fund or the entity to Sebi.

Piramal Pharma Q3 Results: Revenue from operations rose 14% YoY driven by double digit growth across all the three businesses.