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The market opened with strong gains despite negative global cues. US stocks closed in the red as retail inflation in the US accelerated to 9.1% which is the highest in 41 years.

This strong performance is likely to be driven by a sharp shift in mix towards its high-margin tractor segment (44 per cent of the total in Q1 from 32 per cent QoQ). Even auto volumes have remained stable QoQ, given the strong order backlog and chip shortage impact gradually reducing,” it said in a report.

Gujarat Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2021.

“We might see a bit of a subdued movement for the IT stocks and they may remain there till we get a little bit of clarity about how the growth cycle is going to get better in terms of IT spend for the US. We are of the view that domestic-oriented companies, be it banks or consumer names and auto are relatively better placed. For IT,the timing has to be much better to create a positive alpha over the next 6 to 12 months.”

The Nifty Bank index was trading 0.27 per cent up at 34921.95.

The stock traded at a P/E multiple of 40.69, while the price-to-book value ratio stood at 3.4.

A total of 94 shares changed hands on the counter till 11:01AM (IST)

The global cryptocurrency market cap was at the $900.23 billion mark, up more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed more than 31 per cent to $72.92 billion.

"We believe the Indian economy is amidst a cyclical recovery. In such a scenario cyclical sectors like consumer discretionary & banking tend to witness higher-earning upgrades. Within consumer discretionary, we are positive on two-wheeler OEMs. The two-wheeler industry sales in FY22 have been lower than the industry sales recorded in FY15."

“One can play the capex theme directly through the capital goods space wherein we are very positive and we like L&T which is the proxy on the overall capex theme in India. We also like Siemens and ABB within the capital goods space. We also like residential real estate and here we prefer Macrotech Developers and Oberoi Realty.”