Given the current market volatility, auto stocks seem to be a better bet for long side trades. Select stocks like M&M and TVS Motor can rally up to another 12 per cent.
Analyst believe the company should benefit from debottlenecking of the phosphoric acid plant as well as from an increased share of newly-launched, high margin, crop-protection products in FY23.
Timing the markets to catch a low, analysts caution, will not be a wise strategy at the current levels given the slew of domestic and global developments over the next few weeks
However, despite of today's rally the stock has underperformed the market by declining 28 per cent in the past one month as against a 8 per cent fall in the Sensex.
Among the losing pack, Solara Active Pharma Sciences has slumped 75 per cent, while Aarti Drugs, MCX India and Tata Communications are other major laggards
The stock has been under pressure despite the company clarifying that there is no adverse impact on the business of the company due to the ED seizure of assets of Chinese mobile manufacturing company
While investors dumped mid-and small-cap stocks as the markets remained choppy over the past few weeks, analysts still expect these two segments to see good interest from a medium-to-long term
BENGALURU (Reuters) - Indian shares extended losses on Wednesday after the country's central bank announced a surprise increase in key policy rate. The NSE Nifty 50 index was down 1.7% at 16,780 by 0844 GMT, while the S&P BSE Sensex fell 1.6% to 56,058.
CLOSING BELL: Mukesh Ambani-led Reliance Industries (RIL) is set to become India's first company to hit market capitalisation (m-cap) of Rs 19 trillion
India's March wholesale price index-based inflation (WPI) surged to 14.55 per cent on rising edible oil prices and increase in power prices. WPI inflation in February stood at 13.11 per cent.
In the past three months, the stock of Sandur Manganese has zoomed 86 per cent as compared to 3 per cent decline in the S&P BSE Sensex. In the past one year, the counter has rallied 256 per cent
Most analysts expect the markets to remain choppy in FY23 amid multiple headwinds. The ongoing geopolitical crisis, they feel, will keep commodity prices elevated and market gains in check
On its part, the US has been battling a spike in inflation that hit 7.9 per cent in February - a four-decade high. The CPI has not been the highest since January 1982, when it hit 8.4 per cent