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JPMorgan has maintained an overweight rating on Bajaj Auto with a target price of Rs 5,150. Similarly, Motilal Oswal has maintained a buy rating on Apollo Hospitals with a target price of Rs 5,580, while Kotak Institutional Equities has an add rating on Nestle India and HDFC AMC with target prices of Rs 22,250 and Rs 1,860, respectively. The brokerage firms have based their ratings on the March quarter results of the companies, with JPMorgan citing EV volume momentum as a re-rating trigger for Bajaj Auto.

Promoters held 25.51 per cent stake in the company as of 31-Mar-2023, while FIIs owned 49.78 per cent, DIIs 11.74 per cent.

The Indian rupee opened weak against the US dollar, declining by 6 paise to trade at 82.01 in early trade as a result of foreign fund outflows amidst a negative trend in domestic equities. CR Forex Advisors MD, Amit Pabari, stated that global uncertainties has led to the currency being squeezed within the 81.80-82.20 range, with a push to 82.20 necessary to reach 82.50-82.80 levels. The broader NSE Nifty slipped 50.30 points to 17,718.95 points and the BSE Sensex traded 157.29 points lower at 59,973.42 points.

The Nifty Auto index was trading 0.48 per cent up at 12966.05.

​In all of those areas, there are new emerging risks. Natural hazards, climate change, cyber risk, new technologies that are emerging, new business models that are emerging in terms of using some of those technologies to manufacture, so all of these things are changing and the role for insurance will always be there to cover these risks.

The stock traded at a P/E multiple of -26.47, while the price-to-book value ratio stood at -12.94.

Price rebounding after taking support at the 50 day EMA and 61.8% retracement of the previous up move signaling pullback likely in coming sessions.

Indian markets closed positively for the fourth day, with the Sensex up over 70 points and Nifty50 above 17,700. Anupam Rasayan rallied more than 4%, while ITC closed with gains of 0.4% and Zomato rose more than 3%. Technical analyst Viral Chheda recommends buying Zomato stock with stop loss of 48 on a weekly closing basis, booking partial profits for Anupam Rasayan, and buying ITC stock with a stop loss of 370 on a weekly closing basis.

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Indian market had performed a lot better than other markets in 2021 leading India’s valuation at a significant premium to other emerging markets.