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The stock quoted a 52-week high of Rs 788.9 and a 52-week low of Rs 583.05.

2023 will be a very topsy-turvy year with plenty of trading opportunities but also an excellent year for long term investors who are looking for sharp market dips to build positions in strong companies.

LotusDew Wealth CEO, Abhishek Banerjee, highlights Nelco as a company that has progressed from a pre-independence business to one that competes with the likes of Elon Musk and Starlink. Nelco holds different types of licenses, making them capable of providing consumer internet to various players, including in-flight internet. Although they initially considered consumer internet, they have put this on hold to study a new draft policy on pricing and business models.

From the Sensex pack, IndusInd Bank, Tata Motors, and Power Grid were the top gainers, rising over 1% each. HCL Tech, Reliance, UltraTech Cement, ICICI Bank and L&T also opened higher. Whereas, SBI, Tata Steel, HDFC, Titan and Airtel opened with cuts.

Financials are expected to continue to perform well if the economy and markets do well, according to Mihir Vora, CIO & Senior Director at Max Life Insurance. Financials are currently undervalued in comparison to pre-Covid levels, and the sector may have some steam left. Railways, defence and roads have seen increased capex, resulting in a commitment to privatisation and spending. With the pharma sector, Vora prefers domestic-oriented companies that offer established distribution and brands.

Several Indian companies, including Larsen & Toubro, Godrej Consumer Products, and Dr Reddy’s Laboratories, are expected to record double-digit growth in their topline and bottomline figures for the March quarter due to healthy execution and strong order books. L&T’s core engineering business is expected to drive the topline with a healthy opening order book. Meanwhile, Revlimid, the cancer drug, is expected to have contributed significantly to growth in Dr Reddy’s US sales.

Provided a breakout from an inverse head and shoulders pattern, a bullish reversal pattern.

The market has a good chance of going higher, according to Chakri Lokapriya, CIO & MD at TCG AMC. Despite flat two-year index returns, valuations are just 20 times for depressed earnings, indicating that the market is "not clearly an overheated market." Assuming the economy revives and rates start to drop after the RBI peaks out, Lokapriya believes the market will pick up. In the QSR segment, KFC and Pizza Hut are experiencing significant traction, while Devyani International, in particular, is expected to do well.

Laurus Labs, incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 18060.97 Crore) operating in Pharmaceuticals sector.

Brokerages have initiated coverage and maintained ratings on several companies, according to top brokerages sources. Antique has initiated a buy on Mankind Pharma citing its diversified therapy mix as a positive, while Macquarie has given an outperform rating to Lupin due to its Q4 revenue and earnings beating estimates. Nomura has maintained buy on MGL, saying the company delivers the second-highest-ever gross margin. However, BofA Securities has preferred to remain neutral on Zomato, with Jefferies offering a buy rating for Godrej Consumer.