IRFC, REC, Power Finance Corporation, BHEL, SJVN, JSW Energy and GMR Airports are some of the direct beneficiaries of the increased capex spending announced in the budget on the Infrastructure, Power and Railways sector.
The 52-week high serves as a crucial technical indicator for both traders and investors, reflecting the highest price a stock attained in the preceding year.
Recently, a promoter of a tyre company in a lighter vein mentioned that one of the parts which ICE vehicles and Electric vehicles have in common is tyres. While it might appear to be an obvious statement , over the years, if one looks at the way tyre stocks have performed it has been much better than what it used to be, the cyclicality has gone away and there has been a re-rating. Now if tyre stocks are doing well then the companies which are supplying raw material to tyre companies are also witnessing tail winds. These are B2B players which are into manufacturing carbon black and because they are not consumer facing businesses, these companies don t come into the limelight even when they are doing well.
Tesla has reduced the prices of its Model Y variants in Germany, impacting European auto stocks and reflecting its ongoing strategy to increase demand at the expense of margins.
Bajaj Auto, Eicher Motors: CLSA said it has downgraded Bajaj Auto and Eicher Motors to 'Sell' from 'Underperform' falling the recent rally as valuations are pricing in double-digit volume growth over the next few years, which is unlikely.