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“Anybody who is not invested to answer your questions can start with small tranches within the midcap IT space. We like a couple of names which we hold in our global list. Cyient we continue to like because of its diversified book, expectations of stable revenue growth and Firstsource Solutions meets a lot of our criteria in terms of revenue expectations, capacity utilisations, decent amount of DSO days and a decent amount of diversified book.”

The multibagger railway counter has given returns of over 220% in the last 12 months, significantly outperforming the Nifty which has given returns of 15% during this time.

The SME IPO was subscribed by a whopping 362 times on the last day of the bidding process with the total bids surpassing the Rs 18,000 crore mark, which is a first for any SME company. The previous record was held by Chennai-based Basilic Fly Studio, whose SME offer garnered bids of just over Rs 14,000 crore.

“Booking part profit is always a process but where do you deploy the cash because views of experts keep moderating. But staying put is the only mantra in India. This is the beginning of a big bull market, and you are there for the next 20-30 years. The financialisation of savings, the backbone of the market being the retail investor is not churning. ”

Notwithstanding strong buying trends in metal stocks seen on Thursday, a wait-and-watch policy in metals is recommended by analyst Pankaj Pandey of Head Research, ICICIdirect.com even as he suggests investors to remain positive on this sector.

NSDL data shows that in the first 10 days of the month, FIIs invested Rs 39,260 crore on Dalal Street. And now with the US Fed hinting at 3 rate cuts in 2024, the market could once again see a flood of foreign money chasing Indian stocks in the new year.

A total of 6,621 shares changed hands on the counter till 12:33PM (IST).

Stating the return ratio on the comeback path, domestic brokerage firm Sharekhan maintained its Buy rating on the stock with a target price of Rs 105, which indicates an upside potential of 17% from the current market prices.

On the technical charts, the RSI of the stock stood at 72.97.