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“We feel that Indian snacks consumption can give a steady growth of 12% to 15% over the next few years and within that, a player like Bikaji which has a lot of products, good distribution presence and focuses on the Indian savoury market, holds a lot of potential. We definitely believe that there is a listing gain perspective in the Bikaji IPO.”

Shares of Allsec Technologies (Rs 20 per share), Crisil (Rs 10 per share), Kewal Kiran (Rs 3 per share), Procter and Gamble Hygiene (Rs 65 per share) and TCI Express (Rs 3 per share) will trade ex-dividend today.

Incorporated in 2008, Mysore (Karnataka) based Kaynes Technology is an IoT solutions-enabled integrated electronics manufacturing company.

Among Sensex stocks, Bajaj Finserv, Axis Bank, Bajaj Finance, Reliance, Maruti, M&M and L&T were the top gainers, rising about 0.5-1.5%. Tata Steel, NTPC, HDFC, Nestle, UltraTech Cement and Power Grid Corp also opened higher.

"We rely on a data driven approach to select stocks. With years of research experience in constructing factor based portfolios, we have been able to help our investors tide these volatile times. Over the last couple of years, we have been investing heavily in expanding our capability in AI-ML research for capital markets."

The stock has formed a bullish piercing candlestick formation near an important retracement zone which suggests that the uptrend is likely to resume.

“If you are a long-term player with a slightly contrarian view, then corrections like this in a good business certainly is an opportunity to buy. But when it comes to consumer durables, a better way to play would be through the contract manufacturers. We have Amber Industries which is a play on air-conditioning and there is Dixon as well which is also a play on consumer electronics and consumer durable.”

Dabur India Ltd., incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 98456.90 Crore) operating in FMCG sector.

The decline in the consumer goods segment is more pronounced in rural areas, and companies said demand could recover in the second half of the financial year due to moderation in inflationary pressures and normal monsoon although it will depend on the kharif output.

Tarun Pathak, research director at market tracker Counterpoint Research, said profitability took a hit in India due to the high base effect of previous year when pent-up demand was super high, high component costs amidst shortages and overall macroeconomic challenges. The overall demand environment in India has continued to remain stressful last fiscal due to repeated Covid waves and inflationary pressure on consumer wallets.