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The value investor compared trends of the 1970s with that of 2022 and said investors will undoubtedly find vindication for their beliefs that the correction in stocks in the US was long overdue and that it has been a return to normalcy where safe stocks in boring sectors that pay high dividends deliver excess returns.

The imposition of a 15% export duty will remove the export price arbitrage over domestic prices and increase supply in the domestic markets, leading to further correction in steel prices.

"As we await RBI to extend international limits for product providers, there is still a growing interest in international strategies such as electric vehicles, other geographical exposures which is clear in fillings by product providers. Post pandemic, innovations in investment products have been welcomed and concepts such as metaverse and artificial intelligence driven strategies are also receiving some interest."

Market analysts suggest that investors should pick the stocks and sectors according to their risk appetite but should use this correction to rebalance their portfolio and allocate resources, responsibly.

The Relative Strength Index of the stock stood at 57.96 on Wednesday.

“There was a whole hedge fund mindset that had come in some select companies, where people were just trading the next valuation round regardless of what the business was doing or rather the business was being made to do. That would increase only the valuation curve rather than build good businesses.”

As of 31-Mar-2022, promoters held 54.9 per cent stake in the company, while FIIs held 19.9 per cent and domestic institutional investors had 10.68 per cent.

Formerly known as Zee News, ZMCL is part of media baron Subhash Chandra-led Essel Group and operates one of the largest news networks with 14 news channels in six different languages.

India has allowed duty-free imports of 2 million tonnes each of crude soyoil and crude sunflower oil for the current and the next fiscal year to March 2024 as part of efforts to keep a lid on local prices.

“Within the auto sector, we like Maruti which is a top-of-mind company because the business visibility is still very high and coupled with that, there is some capex and some cooling off in the raw material prices that would really bring far more comfort to that play. We also like Mahindra & Mahindra and Hero Motors.”