Latest Stock Market News

For the entire 2021-22 fiscal, APL Apollo registered a sales of 17,54,963 tonne compared to 16,40,353 tonne in FY2020-21.

The stock quoted a 52-week high price of Rs 1267.5 and low of Rs 678.65.

“It is a double whammy for consumer companies and this is the time to stay out. Over the next six months, some of these companies will present opportunities as these are long-term growth companies and such cyclical opportunities of declines allow us to buy into them. I have been waiting for a long time and in the next 3-6 months will get the opportunity to buy some of these.”

Specialty chemicals, API makers and capital markets are seen as good themes to play this financial year. Analysts largely are mixed on banking and financial space.

On the technical charts, the RSI of the stock stood at 56.7.

Gold futures on MCX were trading down 0.36 per cent or Rs 189 at Rs 51,977 per 10 grams. Silver futures were trading lower by 0.35 per cent or Rs 238 at Rs 67,249 per kg.

“Although TDS is applicable from July 1, I do not think any of those provisions today are practically implementable. For example, today the onus of payment of deduction of TDS is on the buyer but typically in an exchange, the buyer never knows who the seller is and there is no clarity. There is TDS also on crypto to crypto swaps. But there is no clarity on how to value it and how you actually convert that transaction to Indian rupees.”

Digital marketing solutions firm Brightcom Group, backed by veteran investor Shankar Sharma, topped the list with a whopping 2,360 per cent rise. The stock jumped to Rs 97.4 on March 31, 2022 from Rs 3.96 on March 31, 2021.

Khemka said he is positive on IT, select BFSI, commodities, retail, real estate, defence and telecom for FY23. "Also one can consider FMCG, autos and cement as contra plays and accumulate them gradually for long term," he said.

The company, which is owned by Patanjali Ayurved, hit the capital market with its FPO on March 24 to raise Rs 4,300 crore as it aims to become a debt-free company.