KEY HIGHLIGHTS
Closing Bell: Sensex Gains Nearly 200 Points; Nifty Ends Above 11,600
Indian equity benchmarks ended higher in a ceremonial and shortened trading session, thus starting Samvat 2076 on a positive note.
The S&P BSE Sensex rose 0.49 percent or 192 points to end at 39,250 and the NSE Nifty 50 rose 0.38 percent to 11,628. The broader markets represented by the NSE Nifty 500 Index rose 0.5 percent.
In the mid- and small-cap space, the NSE Nifty MidCap 100 rose 1.2 percent and the NSE Nifty SmallCap 100 rose 1.18 percent.
The market breadth was tilted in favour of buyers. About 1,317 stocks advanced and 386 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Auto Index’s 1.4 percent gain.
Market Commentary: Why Gaurav Bissa Is Cautious On Tata Motors
There is some more upside that can be expected (in Tata Motors), according to Gaurav Bissa, associate vice president at LKP Securities.
I’m not saying it’ll fall right away. But I would be cautious at these levels. The support is at levels of 130-132. For the long-term, the picture is still not very strong.
Market Commentary: Rahul Arora Thinks Nifty May Touch 14,000 By Next Samvat Only If…
“If we don’t have any more ‘Zees’, ‘Dewan Housings’ and ‘IL&FS’ in the next year, if there is no more deterioration in the U.S.-China relationship, and if we get that much-talked-about personal income tax cut, then my sense is the Nifty could be somewhere between 13,500-14,000 by next Samvat,” said Rahul Arora, CEO (institutional equities business) at Nirmal Bang Securities.
So, we are talking about 15-18 percent headline index gain from where we are now. That’s the blue sky scenario if nothing else was to go wrong, ceteris paribus. If globally things hold out, I don’t think crude will misbehave too much.
In a slightly uncertain global environment, I don’t think exports and imports are in your control in a very material way. So, you are down to CING (consumption, investment, and government spending). With the corporate tax cuts, the government’s fiscal deficit on books is 3.9 percent and off books is probably 4.4-4.3 percent (and then you add the state). There’s not too by way of government spending that can happen. So, you are down to CIN,” Arora said.
“Corporates will only invest when there’s demand. So, you have to revive demand to start off with. That’s where personal income taxes come in. The big theme is going to be to put money back in the hands of people so that they go out and start consuming. There’s probably a consensus that’s building up and why some auto stocks have started to do really well over the past month or so. I am far more optimistic in this Diwali than I have been over the last two or three Diwali,” he said.
F&O Check: Nifty 11,600 Put Option Contract Falls 22%
Nifty’s 11,600 put option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Oct. 24, fell 21.6 percent to Rs 52.15. Over 3.66 lakh shares were added to the open interest which stood at over 22.94 lakh shares.
Market Commentary: What IIFL's Sanjiv Bhasin is Betting On
IIFL's Sanjeev Bhasin says insurance stocks are a no-brainer. Eicher Motors has turned out to be an outperformer despite pessimism on the scrip, he said. “But I am not very bullish on the over-owned large caps in terms of adding more positions.”
Stocks Moving On Heavy Volumes
Linde India
- Stock rose as much as 4.8 percent to Rs 561.
- Trading volume was more than four times its 20-day average.
Future Lifestyle Fashions
- Stock rose as much as 4.1 percent to Rs 416.95.
- Trading volume was more than three times its 20-day average.
IRCON International
- Stock rose as much as 3.7 percent to Rs 423.
- Trading volume was more than three times its 20-day average.
Small-Cap Index Gains Over 1%; Dr. Lal Pathlabs Top Performer
The small-cap index represented by the NSE Nifty SmallCap 100 rose over 1.2 percent, led by the gains in Dr. Lal Pathlabs Ltd., Metropolis Healthcare Ltd. and Tata Exlsi Ltd.
Market Commentary: Corporate Tax Cut Is Boosting Earnings, Says KR Choksey
The corporate tax cuts are helping companies’ earnings, says KR Choksey. “The second half of the current financial year is expected to be better as economy is showing signs of pick up.”
He is optimistic on sugar stocks. “This sector will turn non-cyclical with the focus towards ethanol production.”
Here are the key highlights from the conversation:
- H2FY20 will be better due to slow revival in economy
- Top stock picks: Picks: Dwarikesh Sugar, Dhampure Sugar and Balrampur Chini Mills
Market Check: Sensex, Nifty Hold Gains
Indian equity indices managed to hold on to gains after starting Samvat 2076 on a positive note.
The S&P BSE Sensex rose 0.58 percent to 39,285 as of 6:50 p.m. and the NSE Nifty 50 rose 0.48 percent to 11,639. The broader markets represented by the NSE Nifty 500 Index rose 0.6 percent.
Stocks Reacting To Results Announcement
Marico (Q2, YoY)
- Stock rose as much as 2.6 percent to Rs 383.70.
- Revenue flat at Rs 1,829 crore versus Rs 1,837 crore (Estimate: Rs 1,947 crore)
- Net profit up 16.5 percent to Rs 247 crore (Estimate: Rs 253 crore)
- Ebitda up 15.7 percent to Rs 353 crore (Estimate: Rs 358 crore)
- Margin at 19.3 percent versus 16.6 percent (Estimate: 18.3 percent)
- Raw material as percent of sales at 50.4 percent versus 56 percent
- Volume growth at 3 percent, India volume growth at 1 percent
HDFC AMC (Q2, YoY)
- Stock rose as much as 5.2 percent to Rs 3,047.
- Revenue up 3.7 percent to Rs 498 crore
- Net profit up 78.8 percent to Rs 368.2 crore
- Total AUM up 25 percent to Rs 3,66,200 crore
- Company to exercise lower tax rate structure
- IND AS 116 impact impacted bottom line numbers
Tata Coffee (Q2, YoY)
- Stock rose as much as 2.4 percent to Rs 79.
- Revenue up 5.6 percent to Rs 481.3 crore
- Net profit flat at Rs 25.5 crore
- Ebitda up 35.4 percent to Rs 79.5 crore
- Margin at 16.5 percent versus 12.9 percent
- Exceptional gain of Rs 14.7 crore in the base quarter
SH Kelkar (Q2, YoY)
- Stock fell as much as 5.8 percent to Rs 124.35.
- Revenue down 1.8 percent to Rs 279.3 crore
- Net profit down 47.2 percent to Rs 15 crore
- Ebitda up 1.3 percent to Rs 38.2 crore
- Margin at 13.7 percent versus 13.3 percent
Jubilant Life Sciences (Q2, YoY)
- Stock rose as much as 2.4 percent to Rs 575.
- Revenue flat at Rs 2,265.9 crore
- Net profit up 18.5 percent to Rs 249.4 crore
- Ebitda up 4 percent to Rs 468.3 crore
- Margin at 20.7 percent versus 19.8 percent
- Tax writeback of Rs 50 crore in the current quarter
NRB Bearings (Q2, YoY)
- Stock fell as much as 5.6 percent to Rs 99.15.
- Revenue down 25.4 percent to Rs 193 crore
- Net profit down 82.2 percent to Rs 6.1 crore
- Ebitda down 62.7 percent to Rs 20.5 crore
- Margin at 10.6 percent versus 21.2 percent
Shriram City Union Finance (Q2, YoY)
- Stock rose as much as 2.1 percent to Rs 1,348.70.
- Net interest income down 8.4 percent to Rs 924.9 crore.
- Net profit up 19 percent to Rs 303.3 crore.
Reliance Capital (Q2, YoY)
- Stock rose as much as 3.8 percent to Rs 15.6
- Revenue down 4.6 percent to Rs 5,063 crore
- Net loss at Rs 51 crore versus net profit at Rs 280 crore
Pfizer (Q2, YoY)
- Stock rose as much as 8.3 perrcent to Rs 3,784.
- Revenue up 9.1 percent to Rs 567.1 crore
- Net profit up 61 percent to Rs 154.3 crore
- Ebitda up 26.5 percent to Rs 164.2 crore
- Margin at 28.9 percent versus 24.9 percent
Securities and Intelligence Services (Q2, YoY)
- Stock rose as much as 3.6 percent to Rs 899.90.
- Revenue up 23.6 percent to Rs 2,088.55 crore
- Net profit up 73.9 percent to Rs 76.16 crore
- Ebitda up 57.8 percent to Rs 123.4 crore
- Margin at 5.9 percent versus 4.6 percent
Sectoral Indices Check: Nifty Auto Best Sectoral Performer
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Auto Index’s 1.5 percent gain.
RIL Gains After Devising New Holding Structure For Jio Digital Businesses
Shares of the country’s largest conglomerate rose as much as 0.96 percent to Rs 1,445.
The boards of Reliance Industries and its wholly owned subsidiary Reliance Jio Infocomm Ltd., in separate meetings, approved the creation of a new digital platform holding company as well as a debt restructuring.
The move will make Reliance Jio a virtually net debt free company by March 31, 2020, said a statement issued by RIL, India’s most valuable company by market capitalisation.
The Relative Strength Index was above 70, indicating that the stock may be oversold. Of the shares traded, 53 percent were at the ask price and 21 percent were at the bid.
ICICI Bank Swings After Q2 Asset Quality Improves
Shares of the Mumbai-based lender fluctuated between gains and losses to trade little changed at 470 after the company announced its September quarter results.
Key Earnings Highlights (Q2, YoY)
- Net interest income up 25.5 percent to Rs 8,057.4 crore (Estimate: Rs 7,863 crore)
- Net profit down 27.9 percent to 654.96 crore (Estimate: Rs 1380 crore)
- Provisions down 28.3 percent to Rs 2,506.8 crore (QoQ)
- GNPA at 6.37 percent versus 6.49 percent (QoQ)
- Deferred tax adjustment of Rs 3,020 crore in the quarter impacted profit.
- Adjusted net profit up 293 percent to Rs 3,575 crore
Tata Motors Jumps 19% After Q2 Results, Fund Raising Plans
Shares of the Jaguar land rover owner extended gains to most in over a decade. The stock rose as much as 18.8 percent, to Rs 150.70, after the company announced its quarterly results for the three months ended September.
Key Earnings highlights (Q2, YoY)
- Revenue down 9.1 percent to Rs 65,432 crore (Estimate: Rs 64,150 crore)
- Net loss at Rs 216.5 crore versus net loss at Rs 1,049 crore (Estimate: Net loss at Rs 1,635 crore)
- Ebitda up 15 percent to Rs 7,046 crore (Estimate: Rs 5,015 crore)
- Margin at 10.8 percent versus 8.5 percent (Estimate: 7.8 percent)
- JLR sales up 8 percent to GBP 6.08 billion
- JLR Ebitda margin at 13.8 percent and EBIT margin at 4.8 percent
Besides, the company’s board approved fund raising through debt and equity, the filing said, adding the company would make a preferential issue of equity shares and warrants worth Rs 6,500 crore to holding company Tata Sons. The group’s voting rights in Tata Motors would increase to 45.71 percent after the exercise. “The company will use proceeds from the preferential issue to promoters to retire domestic debt,” PB Balaji, group chief financial officer, told BloombergQuint.
Here's what analysts had to say after Tata Motors announced September quarter results:
Kotak
- Maintained ‘Buy’; hiked price target to Rs 200 from Rs 190.
- Significant improvement in JLR; margins likely to sustain.
- Tough quarter for standalone business but CV business to rebound in H2FY20.
- Increase FY20-22 consolidated EBITDA estimates by 2-16 percent.
Ambit
- Maintained ‘Sell’; hiked price target to Rs 125 from Rs 90.
- Don’t read too much into JLR margins.
- Believe it will be too early to turn positive due to one quarter of strong performance.
- Yet to see any green shoots of sustainable strong profitable growth for JLR.
Opening Bell: Sensex Up 300 Points; Nifty Near 11,700
Indian equity benchmarks began Samvat 2076 on a positive note.
The S&P BSE Sensex rose 0.7 percent to 39,323 and the NSE Nifty 50 rose 0.6 percent to 11,650. The broader markets represented by the NSE Nifty 500 Index rose 0.67 percent.
The market breadth was tilted in favour of buyers. About 1,048 stocks advanced and 336 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Auto Index’s 1.4 percent gain.
Pre-Market Check: Sensex, Nifty Set To Open Higher
Indian equity benchmarks are set to open higher.
The S&P BSE Sensex rose 0.96 percent to 39,451 during the pre-market trade and the NSE Nifty 50 rose 1 percent to 11,700.
Investors Should Pick Firms With Clear Earnings Growth Outlook, Says Gurmeet Chadha
Gurmeet Chadha is optimistic going into Samvat 2076. “The government seems to be getting more active which bodes well for the market.”
A blessing in disguise will be the divestment programme of the Modi government, The CEO and co-founder at Complete Circle Consultants told BloombergQuint in an interaction.
Besides, he thinks the market is seeing the fag end of NPA cycle.
He continues to stick to his previous Samvat picks of HDFC twins and ICICI twins (bank and insurance). “Investors need to go with companies with a clear earnings growth outlook.”
Brokerage Radar: How To Play ICICI Bank, SBI, Tata Motors Post Q2 Results
On Tata Motors
Kotak
- Maintained ‘Buy’; hiked price target to Rs 200 from Rs 190.
- Significant improvement in JLR; margins likely to sustain.
- Tough quarter for standalone business but CV business to rebound in H2FY20.
- Increase FY20-22 consolidated EBITDA estimates by 2-16 percent.
Ambit
- Maintained ‘Sell’; hiked price target to Rs 125 from Rs 90.
- Don’t read too much into JLR margins.
- Believe it will be too early to turn positive due to one quarter of strong performance.
- Yet to see any green shoots of sustainable strong profitable growth for JLR.
On SBI
Citi
- Maintained ‘Buy’; cut price target to Rs 375 from Rs 400.
- Q2FY20 – Strong NIM, lower slippages.
- Higher coverage; retail continue to drive growth.
Morgan Stanley
- Maintained ‘Equal-weight’ with a price target of Rs 330.
- Profit before tax miss was driven by higher provisions.
- Asset quality - lower slippages; elevated credit costs but higher coverage.
On ICICI Bank
Ambit
- Maintained ‘Buy’ with a price target of Rs 526.
- NIM and asset quality continue to improve.
- Robust deposit growth/loan growth improving NIMs.
- Increased fee/treasury income; opex rise.
Edelweiss
- Maintained ‘Buy’ with a price target of Rs 592.
- All-round strong performance.
- Right focus to help sustain 20%-plus PPoP growth.
- Stress wanes; transitioning towards normalised credit cost.
Your Complete F&O Trade Setup
Futures
- Nifty October futures closed at 11608.9, premium of 25 points versus 28.5 points.
- Nifty October futures down 3 percent, sheds 4.9 lakh shares in OI
- Nifty Bank October futures closed at 29,431.8, premium of 35.9 points versus 72.6 points
- Nifty Bank October futures OI down 25 percent, sheds 3.2 lakh shares in OI
Options
- Nifty PCR at 1.21 versus 1.25 (across all series)
Nifty Monthly Expiry: Oct. 31
- Max OI on call side at 12,000 (34.7 lakh shares)
- Max OI on put side at 11,000 (28.9 lakh shares)
- OI addition seen at 11,550C (+4 lakh shares), 11,500P (4 lakh shares)
Stocks To Watch: Jubilant Life Sciences, Lemon Tree Hotels, M&M, RIL
- Tata Motors: The company’s board approved fund raising through debt and equity, the filing said, adding the company would make a preferential issue of equity shares and warrants worth Rs 6,500 crore to holding company Tata Sons. The group’s voting rights in Tata Motors would increase to 45.71 percent after the exercise. “The company will use proceeds from the preferential issue to promoters to retire domestic debt,” PB Balaji, group chief financial officer, told BloombergQuint.
- The boards of Reliance Industries and its wholly owned subsidiary Reliance Jio Infocomm Ltd., in separate meetings today, approved the creation of a new digital platform holding company as well as a debt restructuring. The move will make Reliance Jio a virtually net debt free company by March 31, 2020, said a statement issued by RIL, India’s most valuable company by market capitalisation.
- Mahindra & Mahindra’s subsidiary Mahindra Two Wheelers Europe will fully acquire France-based Peugeot Motorcycles for an undisclosed amount.
- Sadbhav Infra Projects: September quarter’s toll revenue was flat at Rs 267.9 crore.
- Lemon Tree Hotels: Unit’s board approved acquisition of 100 percent stake in Berggruen Hotels and issuance of convertible preference shares for an amount not exceeding Rs 421 crore to APG Strategic Real Estate Pool NV and Lemon Tree Hotels.
- Jubilant Life Sciences: Board approved demerger of the Life Science Ingredients Business and Pharma Business. Life Science ingredients business to be listed separately and amalgamation of promoter shareholding companies into the company to simplify the holding structure. Company to sale India Branded Pharma Business to wholly owned arm Jubilant Generics for Rs 128.5 crore.
- HPCL conferred Maharatna status from Indian Government.
- SBI Life Insurance: IRDA issued an advisory and imposed penalty of Rs 4 lakhs after the regulatory body conducted onsite inspection of the company.
- ICICI Bank initiated the process of transfer of its entire stake GST Network to various state governments.
- NTPC entered in a JV and Shareholders Agreement with Ceylon Electricity Board for development of 300MW LNG Power Project.
- Excel Industries has completed the acquisition of the chemical manufacturing unit of NetMatrix Crop Care in Andhra Pradesh.
- Edelweiss Financial Services: Arthur Gallaghar has acquired minority stake in the company’s arm Edelweiss Insurance Brokers.
- Ashiana Housing launched the first phase of its residential project in Jamshedpur. The project has a total saleable area of 6.72 lakh square feet. The company has also opened Jaipur project for expression of interest from customers, with booking to be launched from Dec. 5.
- Tata Power’s joint venture will acquire two power plants at Kalinagar for Rs 920 crore from Tata Steel. The JV has also signed tolling agreements with Tata Steel for supply of power from the afore-mentioned power plants.
- Engineers India has won order from HPCL regarding LPG cavern project at Mangaluru for Rs 83 crore and EPC order worth Rs 185 crore from Numaligarh Refinery.
- Wonderla Holidays to commence construction of an amusement park in Chennai soon. Project was put on hold for some time, but now the Tamil Nadu Government has agreed to give exemption to the company from levy of entertainment tax for a period of 5 years commencing from Nov. 1.
- Manpasand Beverages: ROC approved extension of holding AGM till Nov. 30.
- Astec LifeSciences received grant of patent in respect of invention of a method for production of cyclopropane derivatives for a period of 20 years from the date of filing for patent, i.e. April 2014.
Q3 Earnings Corner: HDFC AMC, ICICI Bank, Marico, Tata Motors And More!
Earnings Reaction To Watch
Tata Motors (Q2, YoY)
- Revenue down 9.1 percent to Rs 65,432 crore (Estimate: Rs 64,150 crore)
- Net loss at Rs 216.5 crore versus net loss at Rs 1,049 crore (Estimate: Net loss at Rs 1,635 crore)
- Ebitda up 15 percent to Rs 7,046 crore (Estimate: Rs 5,015 crore)
- Margin at 10.8 percent versus 8.5 percent (Estimate: 7.8 percent)
- JLR sales up 8 percent to GBP 6.08 billion
- JLR Ebitda margin at 13.8 percent and EBIT margin at 4.8 percent
ICICI Bank (Q2, YoY)
- Net interest income up 25.5 percent to Rs 8,057.4 crore (Estimate: Rs 7,863 crore)
- Net profit down 27.9 percent to 654.96 crore (Estimate: Rs 1380 crore)
- Provisions down 28.3 percent to Rs 2,506.8 crore (QoQ)
- GNPA at 6.37 percent versus 6.49 percent (QoQ)
- Deferred tax adjustment of Rs 3,020 crore in the quarter impacted profit.
- Adjusted net profit up 293 percent to Rs 3,575 crore
Marico (Q2, YoY)
- Revenue flat at Rs 1,829 crore versus Rs 1,837 crore (Estimate: Rs 1,947 crore)
- Net profit up 16.5 percent to Rs 247 crore (Estimate: Rs 253 crore)
- Ebitda up 15.7 percent to Rs 353 crore (Estimate: Rs 358 crore)
- Margin at 19.3 percent versus 16.6 percent (Estimate: 18.3 percent)
- Raw material as percent of sales at 50.4 percent versus 56 percent
- Volume growth at 3 percent, India volume growth at 1 percent
HDFC AMC (Q2, YoY)
- Revenue up 3.7 percent to Rs 498 crore
- Net profit up 78.8 percent to Rs 368.2 crore
- Total AUM up 25 percent to Rs 3,66,200 crore
- Company to exercise lower tax rate structure
- IND AS 116 impact impacted bottom line numbers
Tata Coffee (Q2, YoY)
- Revenue up 5.6 percent to Rs 481.3 crore
- Net profit flat at Rs 25.5 crore
- Ebitda up 35.4 percent to Rs 79.5 crore
- Margin at 16.5 percent versus 12.9 percent
- Exceptional gain of Rs 14.7 crore in the base quarter
SH Kelkar (Q2, YoY)
- Revenue down 1.8 percent to Rs 279.3 crore
- Net profit down 47.2 percent to Rs 15 crore
- Ebitda up 1.3 percent to Rs 38.2 crore
- Margin at 13.7 percent versus 13.3 percent
Jubilant Life Sciences (Q2, YoY)
- Revenue flat at Rs 2,265.9 crore
- Net profit up 18.5 percent to Rs 249.4 crore
- Ebitda up 4 percent to Rs 468.3 crore
- Margin at 20.7 percent versus 19.8 percent
- Tax writeback of Rs 50 crore in the current quarter
NRB Bearings (Q2, YoY)
- Revenue down 25.4 percent to Rs 193 crore
- Net profit down 82.2 percent to Rs 6.1 crore
- Ebitda down 62.7 percent to Rs 20.5 crore
- Margin at 10.6 percent versus 21.2 percent
Shriram City Union Finance (Q2, YoY)
- Net interest income down 8.4 percent to Rs 924.9 crore.
- Net profit up 19 percent to Rs 303.3 crore.
Reliance Capital (Q2, YoY)
- Revenue down 4.6 percent to Rs 5,063 crore
- Net loss at Rs 51 crore versus net profit at Rs 280 crore
Pfizer (Q2, YoY)
- Revenue up 9.1 percent to Rs 567.1 crore
- Net profit up 61 percent to Rs 154.3 crore
- Ebitda up 26.5 percent to Rs 164.2 crore
- Margin at 28.9 percent versus 24.9 percent
Securities and Intelligence Services (Q2, YoY)
- Revenue up 23.6 percent to Rs 2,088.55 crore
- Net profit up 73.9 percent to Rs 76.16 crore
- Ebitda up 57.8 percent to Rs 123.4 crore
- Margin at 5.9 percent versus 4.6 percent
Samvat-To-Samvat: How Markets Fared
From the the liquidity shortage and general elections to now rolled back tax surcharge, a slowing economy and trade war tensions, Samvat 2075 was an eventful year for equity investors because of domestic and global cues.
The Nifty 50, which wiped out its losses and is trading nearly 9 percent higher, buoyed by select heavyweights. The broader markets, however, are yet to recover.
Here’s a look at how India’s stock market has performed from the last Diwali to now:
Global Cues: S&P 500 Ends At Record High
- The S&P 500 Index on Friday briefly surpassed its closing record amid positive signs on trade talks and as investors assessed corporate earnings.
- Oil posted the biggest weekly gain in more than a month as supplies tightened.
- The pound fell as U.K. Prime Minister Boris Johnson’s call for a December election was up in the air, with Labour leader Jeremy Corbyn rejecting the plan.
Samvat-To-Samvat: Sensex Logs Second-Best Gains In Four Years
Indian equity benchmark—S&P BSE Sensex—clocked its best Samvat in four years.
The 31-stock returned 12 percent in Samvat 2075. Meanwhile, the NSE Nifty 50 advanced 10 percent during the period.
How Sensex, NIfty Fared On Muhurat Trading Session
Indian equity benchmarks had clocked their best Diwali trading session in a decade in last year. Prior to 2018, the benchmark indices had ended lower in 2016 and 2017 on the first day of Samvat.
Muhurat Trading To Begin At 6:15 P.M.
Happy Diwali!
Indian stock market will trade in a special one-hour session on Sunday, where investors make ceremonial purchases to win the favour of the goddess of wealth.
The centuries-old tradition of seeking the blessings of Lakshmi has taken on an added purpose this year as investors pray the recent government steps revives growth and solidifies the recovery in equities that’s taken the $2 trillion market close to its June peak.
BQ’s Samvat 2075-2076 Coverage:
- Lessons learnt in Samvat 2075.
- Investors should go back to basics in Samvat 2076, say these two wealth managers.
- The stocks analysts are betting on for Samvat 2076.
- Three veteran analysts’ top stock picks for Samvat 2076.
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