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While Nifty gave a return of 9% in the September quarter of FY23, a handful of companies staged a turnaround from loss-making to profit-making on a year-on-year basis.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they bought shares worth Rs 935.88 crore, according to exchange data.

“In the reopening trade, unfortunately we do not have many listed options. Hotel is one sub segment which we do like in this travel and reopening bit. I think we like Indian Hotels. It is a much more asset light model. Obviously the prices have gone up post Covid, but they have a clear strategy of one-third EBITDA coming from the contractual versus the leased rooms and some other asset light models. ”

The stock traded at a P/E multiple of 41.16, while the price-to-book value ratio stood at 9.65.

Ashok Leyland, incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 43739.36 Crore) operating in Auto sector.

The company targets industry-leading volume growth in the near future. A turnaround in east profitability is key, it said. “With volume growth/cost leadership, Dalmia is a strong mid-cap cement play,” said the note.

The Nifty Realty index was trading 0.16 per cent down at 444.5.

Promoters held 69.64 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 8.29 per cent and 11.34 per cent, respectively.

“HNIs’ decision making on investments have started happening a lot more mathematically and logically rather than being emotions and narrative driven. That is the first change that we have seen in the HNI behaviour. We have also seen that high networth investors more and more prefer financial assets over physical assets among HNIs.”

A total of 40,325 shares changed hands on the counter till time (IST).