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This hope, along with easing commodity prices and healthy June quarter results, has led to the return of FPIs to Indian bourses, easing investor concerns.

“The reason why we are negative is firstly because we are trading at close to 20% above our valuation peak and almost at a 60% premium over Asian peers. Investors need to be cautious on the market. There are global risks. Our economists believe that global growth is likely to slow down, inflation is likely to remain elevated and they advise that credit assets should be avoided.”

“One feels relatively safe to add housing finance stocks where the visibility for the next three to five years is intact. So within the real estate theme, I would like to buy allied sectors in housing finance, some of the building material companies which are looking relatively interesting and cement stocks also cannot be neglected. ”

The brokerage has initiated coverage on recently-listed Campus Activewear with a buy rating and a target price of Rs 570. The stock has been buzzing of late as it has rallied over 16 per cent in the past week and 27 per cent in the last month.

French industrial group Schneider Electric rose 0.9% as Sky News reported late on Monday that it is nearing a deal to take full control of Aveva for about 3.5 billion pounds ($4.1 billion).

On the technical charts, the RSI of the stock stood at 64.93.

A total of 10,168 shares changed hands on the counter till time (IST).

Harsha Engineers is the largest manufacturer of precision bearing cages. It has 50-60 per cent of the market share in the organised segment of the Indian bearing cages market and 6.5 per cent of the market share in the global organised bearing cages market for brass, steel and polyamide cages in CY21.

Mahanagar Gas Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 8729.49 Crore) operating in Gas & Petroleum sector.

ZURICH, Sept 13 - UBS Group plans to increase its dividend by 10% and expects 2022 share repurchases to exceed its $5 billion goal, the Swiss bank said, boosting payouts from its strong balance sheet after scrapping a $1.4 billion deal to buy Wealthfront.