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In addition to domestic demand, we are witnessing remarkable growth in our international business with sectors like Renewables, Oil and Gas, and Infrastructure driving the momentum.

A total of 101,188 shares changed hands on the counter till 01:19PM (IST)

The stock traded at a P/E multiple of 17.83, while the price-to-book value ratio stood at 1.61.

Axis Securities believes that the Indian economy stands at a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy. It also believes that the current setup is a ‘buy on dips’ market.

​The petrol and ATF still there is no windfall tax. So, it is 15 days average price which guides the windfall tax and it will keep on increasing or decreasing depending on the individual product cracks, the way they moved.

Despite the recent downgrade by Fitch for the US outlook, it should have little impact on the markets. The issues referred to were already known, such as the high debt ceiling and deficits, even a global risk-free alternative to US treasuries has yet to be found. India is still expected to outperform, despite a possible pause or correction. First Global, which rebalances quarterly, has seen an increase in weightage in the healthcare sector on the pharma side, in addition to capital goods and industrial machinery alongside increased weightage also found in auto, auto components, and a couple of construction names.

The stock witnessed a strong bounce back after hitting a 52-week low of Rs 56.85 on 2nd August 2022. The stock closed at Rs 120 on 1st August 2023 which translates into an upside of 111% in the same period.

​So, I think this is a very normal correction which took place from that euphoric round number of 20,000. It just keeps happening all the time. And somewhere in this 19300-19500 area, the market has a lot of support. I do think that we will stabilise somewhere here and possibly turn around. And everyone seems to be talking about this news flow from the US.

As several companies have already announced their Q1 results, brokerage firm Motilal Oswal has upgraded and downgraded the estimated FY24 earnings of a number of stocks.

A total of 434,138 shares changed hands on the counter till 12:28PM (IST).