Prashanth Tapse of Mehta Equities said that while IT stocks have seen some improvement in price, the broader fundamentals of the sector remain challenging due to relatively subdued growth expectations
While companies have started to pass input cost rise to consumers, inflation, according to G Chokkalingam, founder and head of research at Equinomics Research is not become a major issue yet.
While valuations across several utilities have rerated sharply and now trade above historical averages, the sector's structural growth drivers continue to support a favourable long-term outlook
In the past one month, Laurus Labs and Sai Life shares have surged 18 per cent and 15 per cent, respectively. In comparison, the BSE Sensex has slipped 4.2 per cent.
The BSE Consumer Durables index fell more than 3 per cent in intraday today. Among the individual stocks, Amber Enterprises tanked 17 per cent to ₹7,047.65.
Larger platforms like PB Fintech and One97 Communications (Paytm) have closely tracked or slightly underperformed the Nifty 50, displaying far better resilience than sub-scale players
Public sector OMCs, including Indian Oil, BPCL, and HPCL, have been incurring losses of about ₹20 per litre on petrol and nearly ₹100 per litre on diesel due to elevated global crude prices
Sugar stocks including, Dwarikesh Sugar, and Balrampur Chini fell up to 4 per cent in trade after the government prohibited sugar exports with immediate effect until September 30.
Govt hikes gold import duty: The move triggered selling in jewellery stocks, including Kalyan, Senco Gold, Titan. On the contrary, shares of Manappuram Fin, Muthoot Fin, and IIFL Finance rose up to 7%
Analysts said that the metal space is again a renewed strength after a healthy consolidation phase. They said that strong metal prices will help support or boost the company's profits going forward.
Motilal Oswal sector of the week: TVS Motor's long-term growth is driven by consistent market share gains across domestic and export markets, strong product portfolio and expanding EV presence
While describing midcaps as a stock-specific universe, analysts attributed the outperformance to healthy valuation normalisation in the segment over the past few quarters
Hotel stocks: Analysts said that domestic travel has remained strong, supported by hotels reporting solid bookings in advance and a consistent rise in their RevPAR.
Among the index constituents, Mahanagar Gas fell around 4.5 per cent, followed by IOCL, BPCL, Adani Total Gas, HPCL, Petronet LNG, Chennai Petroleum, and GAIL down over 2 per cent each
Citi has recommended a 'Buy' rating on NTPC for a target price of ₹485, Tata Power for a target of ₹525, Power Grid for a target of ₹380, and JSW Energy for a target of ₹650.
