BPCL has surged 39 per cent in 2024 so far. It traded at Rs 625.60 today against Rs 450.65 at the end of 2023. If one goes by Emkay Global, further re-rating should not be ruled on the OMC counter
Nifty retained its winning streak on Tuesday for the sixth session in a row and hit a fresh lifetime high catapulted by index heavyweight HDFC Bank. The 50-stock index finished at 22,196.95, higher by 74.70 points or 0.34%.
Given the trend of short correction and sharp recovery which the market and especially Nifty has seen in the last few months, it appears that nothing can go wrong with the stock price. But there are enough examples from the recent past and also the long history of markets that most wrong investment decisions are made in these times. if one is thinking about increasing the exposure it would be better to stay with large caps. This is not to say that one would not be wrong in buying large caps but as they would be able to weather any storm which might emerge due to any reason, the damage would be controlled. Even in the large cap category stay with stocks, which dont find place in headlines very often but on many parameters are better than well known names and in fact their performance in the last one year is indicative that even the street is in mood to recognize them.
Nestle India shares will turn ex-dividend today. The FMCG company had announced an interim dividend of Rs 7 per share. Thursday is also the record date for the purpose of determining eligible Nestle India shareholders.