Rudramurthy advises on stock-specific trades, preferring Reliance and SBI. Suggests shorting Maruti and IndusInd Bank. Emphasizes shifting focus to largecaps for safety. Bullish on IT sector for future growth and stability.
In the fourth quarter (Q4 FY24), Wipro's overall net profit fell 7.9 per cent to Rs 2,835 crore. The IT firm's consolidated revenue slipped 4.2 per cent to Rs 22,208 crore in Q4 FY24.
CA Rudramurthy BV predicts Nifty to rise to 23,000-23,200 and Bank Nifty to 50,000 in April. He recommends buying on dips, especially emphasizing opportunities in public sector enterprises, power stocks, and specific companies in the real estate sector. He further says: " Trent is a buy on every dip or at any price and hold it in your portfolio."
CA Rudramurthy BV advises buying quality stocks like Tata Chemicals, Tata Power, HDFC Bank, and IndiGo. He says one has to be in largecaps and use this dip to buy only quality stocks, stay away from mid and smallcaps for some more time. He also recommends considering PSU banks and waiting for attractive buying levels.
CA Rudramurthy BV is bullish on the market but expects a correction. At the index level, he feels a correction of 5% to 10% and at mid and smallcap level a correction of 20% in general is very good for the market. He recommends selling REC and PFC, shorting FMCG stocks, and provides target prices for shorting REC and PFC in F&O. He advises waiting for lower levels to buy and emphasizes risk-reward ratio.