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Financial stocks have a good runway to earnings books: Girik Capital's Charandeep Singh
Charandeep Singh, Co-Founder and Fund Manager at Girik Capital, tells CNBC-TV18 that financial stocks, which have been elading the market, seem to be doing quite well, with ICICI Bank and SBI being big leaders for a while.
"They have a significant earnings tailwind because of a pickup in credit growth, as you may have seen. The pickup in earnings growth as a result of credit growth, and the health and cleanliness of the balance sheet, particularly in these two banks, over the last 4-5 years has been quite significant. So they seem to have a good runway to earnings books, which was possibly not built in and now has been starting to get built in to the price," he adds.
Market At Close | Sensex and Nifty50 fall 1.8% dragged by IT and auto stocks
Here are some highlights:
--Broader markets remain under pressure
--48 Nifty stocks in the red — UPL and Tata Consumer top losers
--Cipla holds on to the green after positive brokerage view
--Vedanta plunges eight percent after clarification on semiconductors manufacturing
--Vodafone Idea drops five percent on reports company won’t convert deferred AGR-related dues
--HFCL falls four percent after Delhi High Court vacates injunction order passed against company
--GMR Power down three percent after company gets initial consideration of $420 million from PT ABM Investama Tbk
--Cement stocks decline after Holcim announces completion of stake sale in Ambuja and ACC
--Market breadth favours the bears — advance-decline ratio at 1:5
Tamilnad Mercantile Bank shares extend losses after muted listing
Tamilnad Mercantile Bank shares remained under pressure for a second straight session on Friday, a day after the one of the country's oldest private sector lenders debuted on bourses BSE and NSE. (Read more)
Sell Bharat Forge, Sun TV, buy Max Financial Services: Hemen Kapadia
Here are some recommendations by Hemen Kapadia of KRChoksey Securities
-- Sell Bharat Forge for a target of Rs 730 with a stop loss at Rs 760
-- Sell Sun TV for a target of Rs 480 with a stop loss at Rs 525
-- Buy Max Financial Services for a target of Rs 850 with a stop loss at Rs 790
Strong recovery margins for auto companies: Pankaj Murarka
Pankaj Murarka of Renaissance Investment Managers said that the auto sector is in an environment where demand is strong and supply chain issues, including the chips have got resolved significantly, and commodity prices are moderate. "This effectively means you get strong revenue growth and more importantly, we got very strong recovery margins for auto companies. I think over the next two years we believe that entire sector is a very sweet spot for investors who bet onto." From medium to longer term, according to Murarka, passenger vehicles in India remains a structural story. "Whereas all of us know CVs are very closely linked to the domestic economy. So the element of cyclicality cannot be eliminated. But I think next two and a half years, we have a very strong CV cycle on our hand as well."
Buy Garden Reach Shipbuilders & Engineers, sell LIC: Ruchit Jain
Here are two recommendations by Ruchit Jain of 5paisa.com
-- Buy Garden Reach Shipbuilders & Engineers for a target of Rs 385-390 with a stop loss at Rs 340
-- Sell LIC Housing Finance for a target of Rs 419 with a stop loss at Rs 444
Induslnd Bank shares rise over 4%
Shares of IndusInd Bank surged over 4 percent after the re-appointment of Sumant Kathpalia as managing director (MD) and chief executive officer (CEO) of the company. (Read more)
Buy MMFSL, sell Lupin: Mitessh Thakkar
Here are two recommendations by Mitessh Thakkar of earningwaves.com
-- Buy MMFSL for a target of Rs 850 with a stop loss at Rs 815
-- Sell Lupin for a target of Rs 620-621 with a stop loss at Rs 657
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