Latest Stock Market News

“Small PSU banks as well as second rung large PSU banks also will continue to do well. So the likes of Bank of Baroda, Canara Bank should outperform in the larger space. Among small banks, one should look at stocks like Bank of India as well as Jammu & Kashmir Bank. This theme should play out in 2023.”

The year has been good for us despite one hiccup of price correction which again was due to market factors, beyond our control. Despite the black swan event our GARI wallet holders have increased significantly with the number crossing 1.7 million in just 10 months of its integration into Chingari app.

The cement industry is witnessing a demand revival with improvement in labor availability and rural demand, government’s thrust on infrastructure (aided by pre-election govt. spending), and steady demand from the housing segment.

“It seems to be a pre-budget rally, particularly on the railway stocks because this is something that keeps happening year after year after year. There is not much in terms of value created by railway stocks but I must mention that within the railway pack, there are now new age companies that have come to the market. ”

Within the Fertilizer stocks we remain constructive on GSFC which the brokerage expects to outperform as it has generated a breakout above the falling supply line joining the highs of Apr22 (|198) and Aug22 (|171), signalling resumption of up move and offers fresh entry opportunity.

“Starting from now till say the next six months, there is a good chance to build a fixed income portfolio also because I do not think you will see these kinds of good yields after say six to nine months because then interest rates will start coming down. So if you want to do some tactical adjustments, it is a good time to look at fixed income.”

“The situation is dire in China. This might impact market sentiments. Moreover, there are no near-term triggers to take the market higher. The next round of triggers will come only in January, starting with the Infosys and HCL Tech results on 12th Jan,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

To curb inflation, the Securities and Exchange Board of India (Sebi) on December 2021 prohibited exchanges from launching new derivative contracts of Soyabean, mustard seeds, channa, wheat, paddy, moong and crude palm oil. These directions were applicable for one year.

Besides, the brokerage expects JSPL to be net cash company in FY25.

Narayana Hrudayalaya, incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 15467.05 Crore) operating in Hospitals & Allied Services sector.