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The combined wisdom of the market now says energy stocks are more valuable when nothing has changed for these companies in terms of fundamentals, Kotak said.

Oil marketing companies including Indian Oil, Hindustan Petroleum Corporation, Bharat Petroleum rose 2-3 per cent each. Reliance Industries and Indraprastha Gas also rose marginally.

“We have seen massive outperformance over the last one and a half-two years. The economy is firing on all cylinders -- 9.5% GDP growth for FY22 will lead to earnings growth for FY22. However, the moot question is how much of that is already priced in, not only for FY22 but for FY23 as well.”

The stock quoted a 52-week high price of Rs 1267.5 and a 52-week low of Rs 856.0.

As of 30-Jun-2021, promoters held 28.41 per cent stake in the company, while FIIs held 31.9 per cent and domestic institutional investors had 11.65 per cent.

“A Rs 60,000 crore worth of investment across four giga factories could result in Rs 2,25,000-2,50,000 crore top line growth eventually and from that, Rs 80,000-100,000 crore of EBITDA is possible.”

On the technical charts, the RSI of the stock stood at 50.96.

A selloff sent the social-media giant’s stock plummeting 4.9% on Monday, adding to a drop of about 15% since mid-September.

“The increase in crude oil price rise may be transitory and could cool down eventually.”

Ethereum has started to witness good inflows upon recovery, which is a strong fundamental sign of the asset, showcasing that investors are still keen on accumulating the asset, said ZebPay Trade Desk.