Global brokerage firm Nomura believes Budget focus areas could include ‘subtle support of consumption, a strong focus on manufacturing with an emphasis on MSMEs, higher infrastructure spending, asset monetisation, and agriculture and rural spending.

Yes, actually we have seen significant upside bounce in the IT pack recently especially midcap and the frontline caps. Nevertheless, I am not expecting any bigger upside momentum from here. We are likely to see some kind of a decline from the IT majors and at the lower levels they would find support.

Yes, actually we have seen significant upside bounce in the IT pack recently especially midcap and the frontline caps. Nevertheless, I am not expecting any bigger upside momentum from here. We are likely to see some kind of a decline from the IT majors and at the lower levels they would find support.

​Second, financials have to reflect progress of the story, and validate realistically the potential of what can be. We like to see this in the form of better revenue growth, margin expansion, and return ratios; but while ensuring healthy cash flows, prudent capital allocation, and high corporate governance standards.

“Momentum indicators on the technical front show a lot of strength in this particular stock. I believe it has a potential to reach up to Rs 2,380-2,400 level. So, one can take a long position in Balkrishna Industries at the current market price with the stop loss at Rs 2,190 levels on a downside for an immediate target of 2300 to 2320.”

From the doorsteps of 19000, the sustained decline was disappointing, though not unexpected. However, the psychological mark of 18000 failed to trigger a solid bounce, and appears to have rattled traders, prompting talks of 17500-300, also evidenced by Nifty put option activity.

“The second half will be equally important. We will have to review whether there is any pivot from the central banks as far as interest rates are concerned, any review on the war situation and then we should take our stance. The market broadly will be range-bound and some of the existing themes will continue to do better.”

Many times there is a demand for the stock as well, so you cannot say that the stock will not be available. But as I said that we will always keep in mind the interest of minority shareholders and will advise all the departments as well as the CPSEs to keep on adding value to their company, look at their performance and disinvestment strategy.

Stocks from the Railways, infrastructure, defence, divestment and renewables segments would be in focus.

This stock recently touched its 52-week low and in the last 15 years, only 1.11% of trading sessions saw intraday gains higher than 5%. “It is so boringly safe that nobody loves it,” said Sekhar.

“We also like some industrials and manufacturing plays in the midcap space, in defence, in textiles and partially in industrial gases. We track this very closely and we are also tracking some NBFCs which have been a little out of favour because the market believes that the cost of borrowing for NBFCs is up and banks have an advantage but there are some NBFCs like Poonawalla where we are seeing the cost of borrowings drop by almost 2.5%.”

“The core focus now has to come back to earnings which are going to be out and what happens to the US market. Overall we should look at this market with a positive bias because each and every correction that we are seeing in the last one year or so, has been bought into. So, overall we remain positive and constructive on the market.”

Given that the macroeconomic factors remain conducive in India and corporate earnings growth have improved, most brokerages are betting on automobile, banks, industrials, capital goods and engineering, consumer staples, real estate, and telecom sectors in 2023.

“When we say buy on dips, I am definitely bullish especially on the banking sector and especially on the PSU banks. And 42,000 or 41,700 was a major support for the Bank Nifty. Once it breaks, then only will there be further downside to it. Otherwise, use all dips to buy.”

Further, farm income is expected to grow higher on the back of a good Rabi crop season. And inflation pressures are showing signs of easing. Moreover, the persistent COVID-led restrictions in China and major slowdown in Europe has forced companies globally to look for alternate sources and this became a major boon for India.

India's market cap stood at ₹281 lakh crore on Thursday as against ₹58 lakh crore in FY12. PSUs' market cap increased to ₹37 lakh crore from ₹16 lakh crore in FY12, while the private sector market cap rose to ₹252 lakh crore from ₹41 lakh crore.

From being the countrys biggest IPO, Paytm ended up being the biggest wealth destroyer over the past year. Amidst net losses, investors have increasingly shown discomfort over the complicated business model of the financial services company.

This is the third time that the Nifty PSE index is approaching the 4,500 mark. On the last two occasions, the index failed to move further, and had to face more than 16% fall.Technical analyst Milan Vaishnav said a breakout is impending but the index is facing resistance at current levels.

Hindustan Aeronautics key Products/Revenue Segments include Sale of services, Engineering Goods, Spares And Others, Development Projects, Miscellaneous and Other Operating Revenue for the year ending 31-Mar-2022.

Siddhartha Khemka: So if you look at the broader spectrum, auto is another sector or space, directly linked to the rural sector, but some of these OEMs have a mixed kind of outlook in the near term. So, there is an indirect play on the auto tyres.

“We never like or dislike a stock permanently. One has to look at the risk reward of the individual stocks. In investing, one should never say no to anything. One has to constantly keep on looking at and we have taken these two PSU names. So do not think that we do not buy PSUs. As long as we understand and see that things are in the right place and in favour, we will go for these stocks.”

ICICI Direct is bullish on Hindustan Aeronautics recommended buy rating on the stock with a target price of Rs 3300 in its research report dated November 16, 2022.

Data for the last 22 years for December shows that the Nifty has delivered positive returns for investors on 16 occasions — 73 percent of the time — and has generated 2.9 percent average returns during the month over the past 22 years.

Global brokerage firm Morgan Stanley has maintained its overweight rating on HAL with a target price of Rs 3,216 on the stock as the management has manufacturing order visibility of Rs 1.2 lakh crore over next 3-5 years and valuations are compelling.

The brokerage firm remains selective amid the volatile global economic environment. Global demand recovery and China opening are key, whereas domestic demand is steady. It prefers Hindalco, Tata Steel, JSW Steel and JSPL.

“Current orderbook stands at Rs 840bn. There has been an inflow of Rs 8.6bn from the contract for the end-to-end realisation of 5nos. PSLVs (in consortium with L&T) over a period of four years. Also, the recently executed contract for 70nos. HTT40 has added Rs 68bn to the orderbook,” it added.

“Some of the midcap IT names have shown a bit of a resilience and when we look at the numbers – be it MindTree, LTI, LTTS and Persistent Systems – many of these companies have delivered extremely good sets of numbers and improved margins. There is a case for some sort of a revival in the broader IT space and some of these midcap names also.”

“The export market has picked up for defence companies. Any medium term investor can invest in these companies on any correction, One has to keep in mind that two years down the line we have elections and depending on the new government formation, the new policies will always be a trigger on the government companies.”

“Some steel companies have a bigger export market share like Tata Steel and Jindal Steel. Due to slowing demand globally with recession fears, even after removing the export duty and despite the prices of steel both imported and domestic coming back, it does not give any earnings upgrade to Indian Steel companies. ”

The S&P BSE Sensex fell more than 500 points while the Nifty50 closed below 18,200 level on Monday.

Hindustan Aeronautics Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 88759.82 Crore) operating in Defence sector.

​The Nifty saw a tight range consolidation. Levels of 18,400- 18,300 are where the index faces resistance, and only a sustained follow-through above the same is likely to drive the index higher toward all-time highs. DII short positions in index futures at a 3-year high is a concern, while the India VIX is near the lowest level this year which might point towards a complacent market.

“Some consolidation is due and that should happen. I do not think we are out of the woods yet. The slowdown is real and some of it will play out. Some consolidation is there but at the same time, there will be individual opportunities. For the next few quarters, it is a stock pickers market.”

Hindustan Aeronautics Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 89654.30 Crore) operating in Defence sector.

Amid easing of semiconductor chip shortage issues and strong demand outlook, Maruti shares have rallied over 26% in the last 6 months. India's biggest carmaker had managed to surprise the Street with a four-fold rise in net profit in the September quarter to Rs 2,062 crore while its revenue rose 46% to Rs 29,930.80 crore.

Union Bank of India shares gained 4.7 percent to close at Rs 66, forming long bullish candle on the daily charts with above average volumes. The stock closed above the median of Monday's red candle, may be indicating positive mood.