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Domestic brokerage firm Motilal Oswal has put a Buy call on these eight largecap stocks which can rally up to 20% in the near term.

"The Board of Directors of the Company at its meeting held on July 4, 2023, approved a proposal to reduce the equity share capital to the extent held by shareholders other than its Promoter and holding company, namely, Reliance Retail Ventures Limited," RIL said in a regulatory filing.

After digesting all of the above, the markets have scaled new lifetime highs and are poised for some more in the coming few months. However, certain points need to be watched to play out the next 6-12 months considering we approach the 2024 general elections in April–May of next year.

​The second bit then would be what is the risk that I want to take for this particular investment because it is only based on the risk that you can decide whether you want to go ahead with this particular asset class or not.

What they have to do is they have to go to a financial planner or if they are doing it themselves, investors, they have to go through an asset allocation process where an asset allocation decides what is the amount of investment that should be going into each of these asset classes and then from there on, they have to take it forward.

Power Grid, IndusInd Bank and NTPC were the top Nifty laggards, while Tata Motors, Titan M&M, SBI and TCS ended with gains. Among individual stocks, Kalyan Jewellers closed over 5% higher after a strong Q1 business update

The Nifty Auto index closed 0.29 per cent up at 15498.85.

JLR will report its full financial results for the first quarter later in July. Based on preliminary cash balances, the luxury carmaker expects to report positive free cash flow of over £400 million in the quarter. Meanwhile, Tata Motors has informed the exchanges that it will announce its first quarter results on July 25.

"The major advantage is that investors can trade each strip individually, and they do not carry any re-investment risks, which saves them from interest rate volatility," said Venkatakrishnan Srinivasan, founder and managing partner of debt advisory firm Rockfort Fincap.

Highways Infrastructure Trust, an infrastructure investment trust (InvIT) owned by KKR, plans to raise INR 515 crore ($68.3m) via a rights issue. The investment vehicle comprises six road assets with more than 450 km in total length across six Indian states and is in the process of acquiring four hybrid annuity projects