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With markets at lifetime highs, what strategy should investors adopt? The phase of euphoria continues, India VIX below 17.90 continues to favour the bull case. However, one is advised to refrain from excess leverage given the overoptimism. Among stocks, we like Info Edge, Tata Chemicals, HDFC and L&T Finance that may see gains of 5% and more. What is your outlook for Reliance Industries? The sideways range breakout and sustained gains above the 200-day moving average (Rs 2,045) indicate the resumption of the much-awaited uptrend. Minor breather near the level of Rs 2,230 is likely, but expect a rally toward the level of Rs 2,370 in the short term with key support placed at Rs 2,080. ....
Reliance and Shell had through the arbitration sought raising of the limit of cost that could be recovered from sale of oil and gas before profits are shared with the government. The award came this year. ....
Digital and omnichannel are focus areas in Retail where disclosures didn t include segmental details. Driving 2G to 4G transition is the key focus area for Jio. Shift to renewables for captive consumption, increased ESG focus and higher chemical conversion are focus areas in O2C, the report said. RIL ....
The market is scaling new peaks at a time when we are in the midst of the second Covid wave. How are you looking at the situation when it comes to liquidity flows? Is this irrational exuberance or is there merit in this rally? One of the observations that I had was that the Nifty has given an almost 1,000 point run from the time there was the upsurge in the pandemic in all its intensity. Since then, the Nifty has risen almost 1,000 points. That brings us to the question of irrational exuberance. For quite some time now, the stock prices have been significantly ahead of the fundamentals. The second wave of the pandemic has diluted the optimism in terms of the GDP growth that we started off with sometime in January, February or on the eve of the Budget. We all thought that maybe this year we are going to see 10-11% growth, backed by a good big fiscal deficit, which gave the government the luxury to spend and stimulate the entire economy. ....