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“Inflation risk is now behind us. I do not think we are going to get major shocks on the crude oil front. I just do not see any major huge derailment risk for our current bull market. There will be, of course, corrections here and there, but every single dip from here on in India is an absolute and total screaming buy.”

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The Nifty Auto index closed 0.61 per cent up at 13036.4.

Promoters held 38.11 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 32.72 per cent and 11.44 per cent, respectively.

Vishnu Chemicals, incorporated in the year 1993, is a Small Cap company (having a market cap of Rs 1932.21 Crore) operating in Chemicals sector.

“Forget above our weight, we are not even punching at our weight in global forums in any meaningful way. We need to begin to think of ourselves in a leadership position and that opportunity arises right now with the G20. If we are reasonable in our demands, the rest of the world frankly finds it easier to deal with us.”

In the last one month, while the Nifty has rallied 4.9%, the mid and smallcap indices are up by less than 2% each as the FIIs are known to feast on largecaps. Led by financials, a bulk of FII buying has been concentrated in FMCG, IT and auto stocks.

The company will use the net proceeds from the fresh issue for setting up a manufacturing facility at Saykha, Gujarat, and incremental working capital requirements. It will also repay some debts via money raised from the fresh sale of shares.

“There are two positives which can impart resilience to the ongoing rally in the market: One, the steady decline in crude which has taken Brent crude to below $82. Two, the steady FPI buying (Rs 31630 crores so far in November) particularly in fundamentally strong segments like financials, IT, autos and capital goods,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Multileg option strategies have required deft handling and reduced profit expectations are given persistently low VIX. Debit spreads, especially, bull call spreads have been our go to strategy lately, but with an event risk coming up, we are encouraged to play the prospects of a reversal in VIX, by employing long straddles in Nifty with strikes near 18,400-18,600.