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Fondly referred to as the Big Bull, the ace investor had been making his mark on Dalal Street since 1985 when the BSE Sensex was ruling at the 150 level. Starting his career with just Rs 5,000, Jhunjhunwala was worth $5.8 billion, as per Forbes.

"Ever since I came to Mumbai, my friendship with him has been consistent. We have had many fond memories of being together in the ring (during the open outcry days of BSE), chatting on the streets, as well as eating and drinking together," Kedia told ETMarkets.com.

"We still see good opportunities in the mid-cap space. The NSE midcap index 10 yr average PE has been about 30x and 5yr average is 36x. Currently, it is trading at 21x. If midcaps were to get re-rated at 5 yr average PE, then there is a good 33% upside. With earnings growth over, we will see huge wealth creation in this space over the next 5 years."

“I do not think the Indian market will crash and fall 15% from current levels to go back to the lower levels, I do not think that will be the case. Markets will be volatile for some time and may correct a bit. But the trajectory will be upwards in the medium to long term.”

As the S&P 500 and Nasdaq posted their longest weekly winning streaks since November, analysts noted the Federal Reserve still has its work cut out as it seeks to tame inflation by aggressively raising interest rates without sparking a recession.

At the end of June, Dynasty Acquisition (FPI) Ltd had a 20.12 per cent stake in the company. Shares of Shriram City Union Finance declined 5.26 per cent to close at Rs 1,887.60 apiece on BSE. It fell 4.74 per cent to Rs 1,896 on NSE.

​The bank’s operating profit more than doubled to Rs 225 crore against Rs 106 crore in the corresponding quarter of the last fiscal. Total income jumped 66% to Rs 738 crore while net interest income rose to Rs 449 crore against Rs 223 crore over the same period.

The pattern analysis of the weekly chart for Nifty shows that the index presently trades above all its key moving averages. After forming a lifetime high at 18,600 levels, Nifty has been in a downward sloping corrective trading zone. In the process, it has formed marginal lower highs.

"Two names which look set for a breakout from hotel sector are Mahindra Holidays and Chalet Hotels"

The quality sectors that we like very consistently are private sector banks which have really led the way. Materials, capital goods and automobiles are some of the sectors while IT is a contrarian bet. I have consistently said we have not seen IT spends getting cut even the Gartner studies are pointing towards a 6-7% growth in IT spends.