​So I think if they do not do anything on capital gains that itself will be taken as positive. I think people will ignore everything else because ex of that Indian valuations have corrected, things are reasonable now and I would think that the markets are set for an up move ex of any capital gains move which could spoil sentiments in the near term.

The Nifty Pharma index closed 0.02 per cent down at 12668.8.

Titan Company, Apollo Hospital, Nestle India, ITC and L&T were among the top losers on NSE in today's trade.

The Nifty Bank index closed 0.69 per cent up at 42371.25.

Radhika Jeweltech, Uma Converter Ltd., Archean Chemical Industries Ltd., Kandarp Digi Smart BPO Ltd. and Vardhman Special, hit their fresh 52-week highs during the day.

The Nifty IT index closed 0.74 per cent up at 28933.75.

Uma Converter Ltd., Radhika Jeweltech, Kandarp Digi Smart BPO Ltd., Archean Chemical Industries Ltd. and Roto Pumps, hit their fresh 52-week highs at 11:16AM.

HCL Tech, L&T, Wipro, Apollo Hospital and RIL were among the top losers on NSE.

The Nifty Auto index was trading 0.02 per cent up at 12772.55.

The Nifty IT index was trading 0.73 per cent down at 28511.85.

The Nifty Realty index was trading 0.35 per cent down at 423.65.

The Nifty Pharma index was trading 0.51 per cent down at 12606.65.

The brokerage expects Bata to record 11% revenue growth withsneaker category (~20% revenues) to outperform formal category.

The next big resistance for the index is placed at around 18,400. Budget 2023, rise in Covid cases, FII flows as well as earnings season will guide markets in the near term, suggest experts.

In an interview with ETMarkets, Dongre said: “Domestic equity indices have bounced back sharply from its recent low, and now it may be on track to set new records if the finance minister meets expectations of the investors like to cut the long-term capital gain tax on equity, reduce GST,” Edited excerpts:

Nifty50 breached the 18,000 mark on Friday and the next big support for the index is placed at 17,900 levels. Experts advise investors to pick quality socks on dips.

Stocks that were in focus include names like General Insurance Corporation which rallied more than 12%, Adani Enterprises which rose over 2% to hit a fresh 52-week high and Bata India which closed with gains of over 1% on Monday.

The banking index has been showing outperformance and is continuing its uptrend after some consolidation. Among private sector banks, Axis Bank is showing strength and has given a breakout above its previous swing high resistance.

ICICI Direct is bullish on Bata India recommended buy rating on the stock with a target price of Rs 2065 in its research report dated November 16, 2022.

Out of the 38 analysts with a coverage on SBI, which reported its highest-ever quarterly profit after tax (PAT) of Rs 13,264.62 crore in Q2, at least 10 of them have upgraded their target prices in the last one month, Trendlyne data shows. The average targets signal an upside potential of over 14%.

Sharekhan is bullish on Bata India has recommended buy rating on the stock with a target price of Rs 2055 in its research report dated November 14, 2022.

Tata Motors | Buy | Target Price: Rs 445 | Stop Loss: Rs 425 | A long position can be initiated in the range of Rs 427-430 for the target of Rs 445 with a strict stop loss of Rs 425.

Motilal Oswal recommended Neutral rating on Bata India with a target price of Rs 1900 in its research report dated November 14, 2022.

Sharekhan is bullish on Bata India has recommended buy rating on the stock with a target price of Rs 2055 in its research report dated November 14, 2022.

​​According to analysts, dominant shareholders, including founders, raising stakes in companies is often considered to be a positive indicator and could hint at anticipated strong growth in earnings.

"Despite tough operating environment and significant material inflation, the company managed to drive broad volume driven revenue growths across business channels of retail/franchise/distribution/e-comm," said Bata India in its earnings statement.

“Bata and Relaxo have had some amount of inventory losses because of raw material pressures due to higher raw material prices that have since come down quite significantly. Demand is on the uptrend both for Relaxo as well as for Bata and the other footwear companies. Both Relaxo and Bata stocks have improved but the stock performance does not reflect that. I would hold on or buy at these levels.”

"From these entire fallen angel categories, there are a few good business models. Nykaa and Policy Bazaar are two genuinely good business models. If one evaluates whether anybody has created a monetising machine in the fashion and beauty space or in the insurance space, these two definitely make the cut, unlike the CarTrades or Paytm or Zomato. Zomato has a good business but I think they have to really compete with Swiggy which has even deeper pockets."

Bata India Ltd. key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2022.

“We raised rates by 50 bps twice or three times as has been the US. Even now they are trying to really fight inflation by raising interest rates. I do not know when this settles as it is just not peaking out in the US. I do not know what happens in India. At some point, you might even see the RBI raising interest far too aggressively than how they have raised so far and that is my fear that liquidity is likely to dry up in the next 12 months globally as well as in India.”

“We raised rates by 50 bps twice or three times as has been the US. Even now they are trying to really fight inflation by raising interest rates. I do not know when this settles as it is just not peaking out in the US. I do not know what happens in India. At some point, you might even see the RBI raising interest far too aggressively than how they have raised so far and that is my fear that liquidity is likely to dry up in the next 12 months globally as well as in India.”

“We raised rates by 50 bps twice or three times as has been the US. Even now they are trying to really fight inflation by raising interest rates. I do not know when this settles as it is just not peaking out in the US. I do not know what happens in India. At some point, you might even see the RBI raising interest far too aggressively than how they have raised so far and that is my fear that liquidity is likely to dry up in the next 12 months globally as well as in India.”

For India's largest car manufacturer Maruti Suzuki, Motilal expects a 297% YoY growth in its Q2 profit at Rs 1,900 crore. Besides the easing of supply-chain constraints, the auto majors EBIT margin is expected to improve on a QoQ basis due to price hikes, forex benefits, and operating leverage.

PCBL was up nearly 3 percent at Rs 136.35, the highest closing level since September 20 and formed decent bullish candlestick pattern on the daily charts with higher volumes in last 13 consecutive sessions. The stock has been in an uptrend since the double bottom kind of formation.

For India's largest car manufacturer Maruti Suzuki, Motilal expects a 297% YoY growth in its Q2 profit at Rs 1,900 crore. Besides the easing of supply-chain constraints, the auto majors EBIT margin is expected to improve on a QoQ basis due to price hikes, forex benefits, and operating leverage.

For India's largest car manufacturer Maruti Suzuki, Motilal expects a 297% YoY growth in its Q2 profit at Rs 1,900 crore. Besides the easing of supply-chain constraints, the auto majors EBIT margin is expected to improve on a QoQ basis due to price hikes, forex benefits, and operating leverage.