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Calculations done by Nuvama Alternative and Quantitative Research shows that among those that have a high probability of getting upgraded to midcap from largecap are - Varun Beverages, ABB India, Page Industries, Bosch and Trent.

A total of 32,240 shares changed hands on the counter till 01:42PM (IST)

“More than sectors, India is about the cherry picking of stocks. Selective stock picking is going to be rewarding even in 2023. Anybody can go wrong in predicting the index but the trajectory of wealth creation or returns is going to be definitely very positive in 2023 and the coming years.”

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As of 30-Jun-2022, promoters held 68.69 per cent stake in the company, while FIIs held 11.13 per cent and domestic institutional investors had 3.97 per cent.

“On the largecap side, L&T should continue to outperform because it is still very under-owned relative to growth prospects. I like M&M because fundamentally they are doing much better than what everyone expected and will continue to do much better and valuations are not so high. Among midcaps, it could be a wide variety of stocks across sectors on the capex theme. I like something like VA Tech Wabag.”

On the technical charts, the RSI of the stock stood at 25.78.

“While production has increased, it has not really increased in line with the demand patterns. As a result, some of the models like the Ertiga, XL6, Grand Vitara, Brezza, Dzire and Swift, are seeing long waiting periods, which we will try to reduce. Second, we will try to push our volumes in the SUV segment to increase our market share there. Hence the medium-term objective of getting to 50% market share.”

The geopolitical tensions between Russia and Ukraine had a cascading effect on other world economies as commodity prices skyrocketed, inflation hit multi-decades high in the US and Europe and forced central banks to hike interest rates like never before.

Now the market is betting that this will be enough for the economy to see significant slowdown and that shall prompt the Fed to cut rates soon. Also, I think disinflation is already on the way unless we have another oil price shock or something like that. We will see significant disinflation over the next year.