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The recent manufacturing PMI trajectory for India indicates a robust demand environment, while input cost pressures have started easing with the meltdown in commodity prices.The manufacturing sector’s share in the Indian economy has reached the pre-Covid level of 18% of gross value added in 2021-22 (April-March), and ICICI Securities believes it is poised to hit an all-time high in the medium term.

“Historically, we have seen that in PSUs, there will be growth, but there will be hiccups in between, and margins will not improve. I think whoever is playing a margin improvement story in PSU defence companies, you have to assume that margins might compress,” he said.

This can be seen in two ways: one, Diwali season has slowly become the de facto shopping fiesta for the country with incredible deals across online and offline platforms leading to crazy levels of shopping and two, we can see a fascinating array of religious activities that are geared towards building wealth creation.

Now, the index has to hold above 17,300 for an up move towards 17,442 and 17,500 zones, whereas support can be seen at 17,167 and 17,071 zones. Options data suggests a broader trading range in between 16,800 to 17,700 zones, while an immediate trading range is between 17,000 to 17,500.

Nifty’s coming week expiry option chain reflects on PE writers actively adding their positions all the way till 15,000 strikes - overall more than 30 thousand contracts each, with CE writers standing tall at 17,400/17,500 zones, with over 60 thousand contracts each.

The market regulator has also asked them to wind down operations within six months

According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee opened stronger tracking a fall in the dollar over the past two sessions. Moreover, Asian and emerging market peers were also stronger this Thursday morning and lent support.

With strong potential for revenue growth and scope for further improvement in profitability, we recommend a subscribed rating for a target price of Rs 201 for long-term gains, said Ventura Securities in its IPO note.

As per Trendlyne data, the highest target for the stock goes up to Rs 225, while the average estimate of Rs 208 shows an upside of the potential of around 26 per cent from the current prices. Out of the two analysts covering the stock, both have a strong buy rating on the stock.

Pointing out that the market share of Zee has fallen in the last two years, he said a lot of consumers have now shifted from TV to OTT. “On OTT, there is so much competition from Amazon Prime, Netflix, etc. So you cannot just see the TV market share to start with. The overall impact will be very limited, a lot of time will be given for divestment,” the expert said.