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Guaranteed income plans are a popular investment option for risk-averse investors seeking a stable income source or saving for specific milestones, according to Ashish Lath of InsuranceDekho. The plans offer a fixed interest rate and a range of policy structures that allow premium-paying and income terms to be customised.

In the Sensex pack, Asian Paints, NTPC and Tata Motors were the top gainers, rising over 1%. Bharti Airtel, L&T, SBI, Wipro and Maruti also closed with gains. Whereas, HUL, Sun Pharma, Infosys, UltraTrch Cement and Bajaj Finance settled in the red.

“ITC outperforms HUL due to its consistent success in quarterly figures, which take cues from demand recovery in the cigarette and hotel businesses, cost optimisation, and trending sales momentum in the FMCG industry,” said Ravi Singh, vice president and head of research, Share India.

Hemang Jani at MOFSL believes that there is no sign of significant growth in Nifty, except certain sectors like banking, pharma, and specialty chemicals. ICICI Bank, SBI, and Navin Fluorine are expected to perform well in the coming days while other heavyweights like Maruti may not do great. Jani suggests Maharashtra Seamless, Jindal Saw, and APL Apollo in the pipe sector to enhance the portfolio.

The stock has given stellar returns of more than 50% over the last one year. It is the second-best performing stock on Nifty50 on a year-to-date (YTD) basis. So far in 2023, the stock has gained a whopping 20%, against Nifty50 which has dipped 2%.

The pharmaceutical sector is set to benefit from the softening of raw material inflation, according to Cyndrella Carvalho of JM Financial, with an expected 1-1.5% margin revival across the sector. Companies focusing on specialty drugs, such as Sun Pharma, are predicted to offer potential for growth in the market.

Adani Ports shares were trading at Rs 666.45 on NSE, up Rs 8.05 or 1.22%. The stock was also the top gainer on Nifty50 in early trade.

The stock traded at a P/E multiple of 38.9, while the price-to-book value ratio stood at 4.0.

Reliance Industries, incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1585644.53 Crore) operating in Diversified sector.

Brokerage firm Motilal Oswal, however, maintained a buy rating on ICICI Securities with a price target of Rs 530, estimating a 15% upside. The target price is premised on 12X FY25E P/E of the company.