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"We also are seeing a lot of road building in India and there is a direct correlation between the roads that are built and cars that are sold once the roads are all in and people also travel intercity. The government is doing a lot towards building good quality highways. So people will travel long distances or at least mid-distances interstate and that is where the demand for premium and luxury cars will shoot up. "

Sectorally, buying was seen in banks, financials, auto, pharma, IT, and FMCG stocks while some selling was visible in metal and media stocks.

“Almost half of India needs spectacles and their number is growing to almost 70-80%. I do not get into market size etc. All I know is that half a billion plus people need glasses and that number is growing. We are largely focussing on India and we have Owndays. So we have a lot to do. Nothing more right now.”

The relief that a weaker dollar will bring to the world economy cannot be overstated. Import prices for developing nations will fall, helping to lower global inflation. It’s also likely to boost the price of everything from gold to risk assets such as equities and cryptocurrencies as sentiment improves.

During an investor call with the brokerage, the management said it sees benefits from the ongoing fleet expansion drive in defence and that EBITDA margin during the quarter was lower due to all the recent orders coming via competitive bidding

Deepak Nitrite, incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 24604.62 Crore) operating in Chemicals sector.

Formed long leg Doji candle which indicates astrong possibility of a fresh uptrend.

The Nifty IT index was trading 0.07 per cent up at 30619.05.

“In hospitality, especially hotels, there are four-five stocks only and among the larger ones there are two -- Lemon Tree Hotels and Indian Hotels. Both the companies are doing well. Any weakness in both these stocks are good buying opportunities. The story should last for another two-three years at least.”

When the report was released on January 25, the 60-year-old self-made tycoon from Ahmedabad was the third richest billionaire in the world and is now down to the 29th spot as a result of the rout in stocks of Adani Group companies.