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Dec 10, 2021 4:51 PM

Star Health shares recover after weak debut

The Star Health stock managed to finish the day in the green, after a weak debut earlier in the day. Star Health shares closed at Rs 906.85 apiece on BSE, a premium of 0.8 over the issue price. On NSE, the stock settled at Rs 901, a premium of 0.1 percent. (Read more on Star Health shares)

Dec 10, 2021 4:50 PM

Nifty needs to hold 17,300-17,400 zone for further recovery: Ajit Mishra

Ajit Mishra, VP-Research at Religare Broking, maintained his positive yet cautious approach on the market. He suggests investors to focus on stock selection.

The market will first react to macroeconomic data in early trade on Monday. On the global front, the upcoming Fed meet will remain in focus along with the updates on the new (COVID) variant... The Nifty needs to hold the 17,300-17,400 zone for further recovery," he said.

Dec 10, 2021 4:34 PM

Sequent Scientific great for long term: Dipan Mehta

Dipan Mehta, Director at Elixir Equities, is a bit cautious on Sequent Scientific from a short- as well as medium-term view, though he said "it is great" for the long term. “Last couple of quarters have been very weak for the company on account of an increase in input costs and certain other transitional factors, where demand was impacted because of COVID and other related issues. On the whole, fundamentals of the company are excellent but the valuations are a little on the higher side," he said.

Dec 10, 2021 4:11 PM

Long-term prospects remain good for SBI Cards: Dipan Mehta

Dipan Mehta, Director at Elixir Equities, believes the long-term prospects remain good for SBI Cards. “There is concentrated institutional selling taking place in SBI Cards. The stock is an institutional favourite and because of its unique position of being the only standalone listed credit card company, it has attracted a lot of investor interest. If the charges that they can levy to merchants are curtailed, it would certainly affect one of the income streams of SBI Cards. Valuation-wise, the stock is comfortable. So there could be a minor setback if there is any regulatory change," he said.

Dec 10, 2021 4:06 PM

Market At Close | Sensex, Nifty snap 3-day winning run

Here are some highlights:

--Midcap, smallcap indices rise 0.8%

--Nifty Bank manages to end just above flatline; ICICI Bank contributes most to gain

--Paint stocks gain; Asian Paints top Nifty gainer

--IndusInd falls 0.2% despite RBI nod for LIC to raise stake in co

--Adani Enterprises, IDFC First, Federal Bank, Berger Paints top midcap gainers

--PSBs gain in last hour after sources say government may propose cutting stake below 50%

--Steel stocks higher after ministry pitches for waivers, reduction in import duties for raw material

--Tata Motors holds on to gains in volatile session after company announces PV price hike

--Market breadth favours bulls; advance-decline ratio at 2:1

Dec 10, 2021 4:04 PM

Market At Close | Asian Paints, Grasim, SBI Life, SBI, BPCL top gainers; Divi's Titan, HDFC, Tata Consumer, Kotak Mahindra Bank top laggards

In the Nifty50 pack, Divi's Labs, Titan, HDFC, Tata Consumer Products, Kotak Mahindra BAnk, Axis Bank and Coal India, finishing between 0.9 percent and 1.6 percent lower, were the worst hit among the 29 laggards. Among the gainers were Asian Paints, Grasim, SBI Life, SBI, Bharat Petroleum, TCS, JSW Steel and Mahindra & Mahindra, ending between 0.7 percent and 3.2 percent higher.

Here's how the 30-scrip pack fared at the close:

Dec 10, 2021 3:53 PM

Closing Bell | Sensex down 20 points, Nifty at 17,511

The 30-scrip index ended 20.5 points lower at 58,786.7 and the broader Nifty50 benchmark settled at 17,511.3, down 5.6 points from its previous close. (Read more on the closing bell)

Dec 10, 2021 3:40 PM

Positive on consumer discretionary, industrial, select financial stocks fundamentally: Vaibhav Sanghavi

Vaibhav Sanghavi, Co-CEO of Avendus Cap Alt Strategies, likes consumer discretionary, industrial and select financial stocks from a fundamental point of view.

"We are also very bullish on new-age businesses as well as renewables. So these are the segments where we are looking at combination of long- and short-term opportunities. Whereas we are avoiding NBFCs, pharma and FMCG.”

Speaking on the metal space, he said the stocks in the basket have corrected from their highs. "They can give you some good trading opportunities. However, for us, metals and global cyclicals have always been a tactical play rather than a long-term investment bet. So we may see a tactical play on metals in the short term,” he added.

Dec 10, 2021 3:36 PM

Positive on capital goods, prefer small players: Prakash Diwan

Market expert Prakash Diwan is positive on the capital goods space now. He prefers smaller companies in the basket. "Look at Thermax, it's been in this range for a long time; it's now finally breaking out. Siemens has many more businesses apart from just the power equipment side. Look at Cummins today. So what's likely to happen is capital goods as a sector has been under-owned particularly from an institutional perspective and when you have the domestic institutions buying quite a significant portion of this, when the FIIs are exiting largely from consumer names and financials, this sector rotation is going to be very favourable," he said.

Capital goods is definitely one of the top areas to look at, he said. Diwan said if he were to narrow down on something, one of the stocks that he has always liked is Bharat Bijlee. "They have significant cash on the books, the underlying investments are of tremendous value and every time some of these other bigger names improve in terms of performance, it also gets the benefit given the fact that it holds quite a few of these names. So I would rather latch on to something which would probably not be primary in terms of beneficiary. But more secondary, but definitely, I think that's the space to be in," he added.

"After steel and cement, the growth actually percolates down to some of these players. And you can't be missing out on that. So definitely very positive. But I would look for a little bit of a smaller name, as I said, rather than the biggies at this point," Diwan added.

Dec 10, 2021 3:32 PM

How IPOs of Rakesh Jhunjhunwala-backed companies have fared

Billionaire investor Rakesh Jhunjhunwala-backed Metro Brands' IPO opened for subscription on Friday. The company is looking to raise over Rs 1,360 crore, hoping to garner over Rs 1,070 crore from an offer for sale (OFS) and Rs 295 crore from fresh issuance. It has raised Rs 410 crore from anchor investors. Jhunjhunwala and his wife are the third-largest shareholders of the company, with a 14.73 percent stake. (Read more)

Dec 10, 2021 3:24 PM

IEX probably priced to perfection now: Prakash Diwan

Market expert Prakash Diwan believes that IEX is probably priced to perfection at this point in time from a valuation perspective. "All the positives are penciled in, and expected to pan out. If something was wrong, either with the market at large or with the sector at some point, it would start to make things look a bit difficult. And that means that you'll have to wait much longer for the earnings. Earnings will come but they would just get pushed ahead," he said.

"My sense is these are stocks that you have on your list, you buy them, the market gives you that opportunity, that correction or some sort of a change in sentiment, but not when they are moving up... What's happened is post-corporate action, it's come within reach for a lot of retail investors. There's a very strong FOMO around it but I would wait a bit more patiently to buy into it given the fact that it's a great long-term story that's still available, but not overpay for it," he added.

Dec 10, 2021 3:22 PM

Bank Nifty in the green, recovers day's losses

The Bank Nifty turned positive less than 30 minutes before the close. The index was up 0.1 percent, having stayed negative for much of the session. It fell as much as 0.7 percent during the session.

Dec 10, 2021 3:18 PM

Sajjan Jindal says JSW Steel adding capacity at unprecedented rate

JSW Group Chairman Sajjan Jindal said the planned expansion over the next four years is equivalent to capacities the company had in the past two decades.

The JSW Steel stock was up 0.7 percent at Rs 678.4 apiece on BSE in late afternoon deals.

Dec 10, 2021 3:08 PM

SPARC to present updated clinical data of Vodobatinib at annual American Society of Hematology meet

Sun Pharma Advanced Research shares were up 2.6 percent at Rs 255.4 apiece in the final 30 minutes of the day on BSE, having risen as much as 3.5 percent during the session.

Dec 10, 2021 2:58 PM

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