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“Many favourable factors have come together to push the markets to record levels: The FOMC minutes indicating smaller rate increases, the sharp correction in crude, FIIs turning buyers, reports of impressive credit growth and capex revival and even the bad news of record Covid spread in China is turning out to be good news for India since it will accelerate the China Plus One policy,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

The stock quoted a 52-week high of Rs 332.4 and a 52-week low of Rs 200.0.

“I do feel that the export markets where Indian steel has a footprint, definitely need to be retained because customer acquisition is the most expensive part of a value strategy. The second most important part is customer retention. Though removal of the export duty may not yield dividends in the immediate or short term, I am very confident that our companies will regain their international footprints in the medium term.”

A total of 18,047 shares changed hands on the counter till time (IST).

The list is topped by SEL Manufacturing Company, which has rallied 4,461% till November 23 in the last one year. The textile player with a total market cap about Rs 1,800 crore has reported a net loss between Rs 24 crore to Rs 51 crore in the last four quarters.

"I feel that we are going to witness a fresh round of allocations for the new calendar year by foreign investors. With clean balance sheets and strong cash flow, Indian companies are looking for a sweet spot to garner a large chunk of the money. There are few pockets in the Indian market, which are looking good from a medium to a long-term perspective. The corporate earnings, especially on the banking side, have surprised us positively."

“This month Campus Shoes is down 26%. But it will be a big winner over the next two-three years because there is a new category. Since listing, they have done very well and better than every other dog that you may have. My theory is that by 2025, relatively smaller positions of 2-3% per name rather than 5%-6% and nearly every year some 8-10 of them do well enough to change the portfolio and beat the market by a few percent.”

“There is no value in Bikaji Foods. The entire speculative activity in the market has shifted from the new generation technology stocks where people have lost a lot of money to these newly listed companies. Any long-term investor should just ignore these moves. HDFC Life seems to have value as it has the potential of giving double digit returns over the next one year. ICICI Pru Life got sold out very substantially right from Rs 620-630 odd to Rs 460 in a straight line,”

Exide Industries Ltd., incorporated in the year 1947, is a Mid Cap company (having a market cap of Rs 15457.25 Crore) operating in Auto Ancillaries sector.

The S&P BSE Sensex and Nifty50 were hovering near new lifetime highs on Thursday.