Why share market is down today, top gaining share check

Hotel sector to see 20-25% price hikes in 6 months: Lemon Tree Hotels CMD

Patanjali Keswani, Chairman and Managing Director of Lemon Tree Hotels, is of the view that the hotel sector will see price hikes to the tune of at least 20-25 percent across the country in the next six months. "There is clearly going to be a shortage of rooms," he adds. 

Continue to have health allocation in select private sector financial stocks: 

     Prashant Khemka, Founder of White Oak Capital Management, believes select private sector financials have a strong liability franchise with the asset side of the balance sheet being in good or improving shape and management execution being top notch.

   "We've seen over the last couple of decades, if not longer, tremendous wealth creation including in our portfolios from the private sector financial stocks it's not like a basket approach - when I say private sector financials, it is a fairly select approach and that continues to be so. Over the last 12-18 months, I would say some of the other cyclicals particularly have fared a lot better in the market than financials. Financials can also be considered as domestic cyclicals but I would say other cyclical, global cyclicals like commodities as well as some other domestic cyclicals, have fared better than financials as a basket. But it's impossible to call these moves on every six-, 12- or 18-month basis. But as of today, we remain very constructive on some of the financial names that we own. All the names that we own are private sector financials," he adds. 

 Midcap cement stocks offer a lot of potential from tactical view, rerating on the cards: Prakash Diwan

  Market expert Prakash Diwan is positive on the midcap cement space from a tactical perspective. "It is only the larger players that have actually been adding capacities consistently, whether it is Shree Cement or UltraTech, or whether it is organic or inorganic. Some of the midsize names as well like Dalmia... What you need to look at is to make sure is that in the growth curve, the business and the valuation metrics, you need to pick companies that continue to grow so that the valuation reset is justified because there are expensive companies as well," he says. He sees potential in mid-sized names.

 Market At Close | Sense, Nifty off day’s lows

  Here are some highlights: 

 --Financial stocks a major drag for headline indices

 --Bajaj twins top losers on Nifty, Bajaj Finance down 7 percent after weak quarterly performance

 --Reliance flat after hitting record high during session

 --Auto stocks gain in subdued market, Hero MotoCorp up 3 percent

 --Metal stocks recover, Tata Steel up 1 percent

  --Select pharma stocks rise in last hour of trade, Di vi’s recovers day’s losses to end flat

  --KPIT Tech up 12 percent on strong quarterly earnings 

  --HUL, Bajaj Auto near flat line ahead of Jan-Mar results

  --Apollo Tires bounces back 6 percent, ends at day’s high 

 --Market breadth favors bears, advance-decline ratio at 1:3

 Bharti Airtel off day's low after co acquires strategic minority stake in Cnergee Tech

 The Bharti Airtel stock ends 0.6 percent lower at Rs 751.8 apiece, having declined as much as 1.3 percent during the session. 

 Cnergee Tech is a Cloud-based networking solutions provider.

 Rupee ends marginally higher at 76.53 vs US dollar

 The rupee settles at 76.53 against the dollar. On Tuesday, it had ended at 76.58.

 Closing Bell | Sense down 537 pts, Nifty50 below 17,050

 Both headline indices finish the day down 0.9 percent. The Sense sheds 537.2 points to end at 56,819.4 and the Nifty50 at 17,038.4, down 162.4 points from its previous close.

 

Enjoyed this article? Stay informed by joining our newsletter!

Comments

You must be logged in to post a comment.

About Author