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Reflecting an anchoring bias problem on D-Street, Prasad said in a report that relying on historical multiples may be looking at things wrongly because the past multiples have little relevance in the valuation of a company/stock on first-principles basis.

Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1651951.27 Crore) operating in Diversified sector.

The Nifty Realty index was trading 1.66 per cent up at 432.4.

“Increasingly IT cos’ new order booking, discretionary spending will come under pressure and that will impact growth rates. It is best to just ride out this challenging period and look for better times in 2023 when the entire macroeconomic headwinds are over. In the meantime, select midcap IT companies focussing on differentiated verticals or have IP type of businesses, should be favoured over the largecap IT. ”

“Based on the rationale above, the stock offers a buying opportunity in the range of 695 to 675 range with a stop loss of 640 on closing basis. It has upside potential up to 800 levels in the next 2 months,” Shah recommended.

Shell also extended its share repurchasing programme, announcing plans to buy $4 billion of stock over the next three months.

JK Cement Ltd. key Products/Revenue Segments include Cement and Other Operating Revenue for the year ending 31-Mar-2022.

Indian market opened higher on Thursday tracking positive global cues. The S&P BSE Sensex rose more than 300 points while the Nifty50 reclaimed 17,700 levels in the first 15-minutes of trade. Sectorally, buying was seen in metals, consumer durables, realty, utilities, power, and oil & gas.

Indian market opened higher on Thursday tracking positive global cues. The S&P BSE Sensex rose more than 300 points while the Nifty50 reclaimed 17,700 levels in the first 15-minutes of trade. Sectorally, buying was seen in metals, consumer durables, realty, utilities, power, and oil & gas.

Crompton Greaves Consumer Electricals Ltd., incorporated in the year 2015, is a Mid Cap company (having a market cap of Rs 23954.93 Crore) operating in Consumer Durables sector.