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JPMorgan sees Paytm at Rs 1,000, down from the earlier target of Rs 1,200. The target price for the counter was Rs 1,350 before that. Even the latest target price signals a potential 60 per cent upside in the counter.

"There will be a solid demand for stocks in Japan, as domestic companies have set aside a lot of cash to buy back their own shares."

“In FY19 we saw 24.42 million vehicles being sold by the two-wheeler industry. Last year, we did around 17.9 million which indicates that there is a gap of approximately seven million vehicles. These seven million vehicles must come back because the market is there for consuming so many vehicles. One can expect some growth numbers coming up this year..”

According to the analyst, the biggest strength of the company is its salt and tea business. They form the bedrock of its India business and share similar traits, albeit with some differences.

The brokerage firm noted that the risk of downgrades in earnings estimates has resurfaced. "Multiple markets declined due to weak demand and the smallest decline was seen in the western region and the largest in the central region," it said.

“India is lagging the US and Europe in the sense that inflation picked up later compared to the US and Europe. So we are expecting India’s inflation to also remain high and it is very heavily influenced by what happens to energy prices and so we expect India’s inflation to be in the range of 7.5% to 8% for the next few months before it begins to moderate in the fourth quarter.”

The Relative Strength Index of the stock stood at 50.6 on Tuesday.

“In the current situation, I do not think safety lies in safety, rather it lies in growth. So, broaden your allocation with the domestic focus across the space. I would still say consumer discretionary, housing and real estate, auto, capital goods cycle are the spaces one should be accumulating on dips rather than go behind the traditional safety because today the safety lies in the future growth.”

"Retail investors have come in a big way that they seem to act like shock absorbers... if FPIs went away, our markets did not really have to show their ups and downs in a very distinct way because small investors in the country have come in a big way," she said.

“Short term, some kind of rejig and pain can be expected but this move for NBFC provisioning norms will help investors get a good clarity before they invest. As for defence stocks, till now, it has been more of intent, more of talks. Now hopefully action will be there but I will not be in a hurry to buy the companies in this particular sector.”