"The market falls on two of three occasions in the 30 days post the budget. The probability of such a fall rises to 80% if the market has risen in the 30 days preceding the budget. Only twice in 30 years has the market been up both pre and post the budget," the brokerage said.

Key levels would be 17,770-17,800 on the downside and 18,250 zone on the upside which if breached decisively can trigger for fresh upside move

We will work on our plans of dollar bond issuance and would want to issue these notes in February-March," said the official, requesting anonymity as they are not authorised to speak to the media.While the plan for raising dollar debt is "definitely on," details such as the quantum and tenor will be worked out in February, the official added.

​ "Since yields have eased slightly, companies are going aggressive in their fundraising exercise, and also they would not want to keep a larger chunk towards the end of the fiscal as liquidity is likely to tighten," said Ajay Manglunia, managing director and head of investment grade group at JM Financial.

REC has inked three separate pacts with MP Power Management Company Limited (MPPMCL), discoms in Madhya Pradesh and Rewa Ultra Mega Solar Ltd to this effect.

“NTPCs dividend payout has been consistently higher and it is offering a very asymmetric payoff which means that the downside is fairly limited. If the delivery of earnings continues, then there is a massive rerating ahead of the stock. NTPC is the top name that emerges as per our style of recommendation.”

​So as long as these companies realise that, as long as they do not think that they will again get investments at very high valuations I think they should do better. Secondly, stating that we will make profits and actually making profits are two different things.

“I think every dip should be bought into – be it 5% or 7% because the risk reward is favourable. We have three large events next year. One is the HDFC Bank merger will be over; we will have Reliance which is significantly under owned and the reversal of flows, which is more inflows coming into India.”

"It has been a tough start to 2023 so far because the markets had to grapple with a lot of volatility. I think the bigger part of the volatility was the uncertainty."

The stock bottomed out near 80 levels when it hit a 52-week low of Rs 83 on 20 June 2022. The stock has been making higher highs and higher lows on the monthly charts for the past 4 months.

“We are in the earnings season and it looks like it is going to be a good earnings quarter, at least for some of the major names and that should give us a lot of comfort. At the end of the day, we cannot wish away global volatility and challenges which are part and parcel of the game. But managing to go through such a turbulent phase without much damage is very comforting.”

"We were quite positive on real estate and the stocks really did not do well despite the sales. I could sense that there are two things which the market is worried about. Last year, big inflation came through in cement and all kinds of building materials which go into building a house and that would probably be the only reason of concern which I could figure out. Apart from that, the sector outlook is really healthy and it is again representative of the rich mens consumption which is really booming in India. "

The stock is also moving above all the major averages which is a good sign for an upside move. One can buy the stock at the current level and more on dips of 140 with a stop loss of 129 on a weekly closing basis.

The counter is moving in an ascending channel formation, which is defined as price action contained between two ascending parallel lines. The overall structure is very bullish, and higher highs and higher lows characterise this price pattern.

BFSI, metal, and auto stocks helped the market recover during the week. Buying from domestic institutions and retail, combined with a lack of large ticket sales by FIIs in the last week of the year, resulted in a significant price recovery.

Bank Nifty rolls also declined by 85%, compared to the previous month of 88%. The weekly option chain data reflects Put OI additions at 43000PE and 42500PE of over 17 lakh OI shares and 14 lakh OI shares. CE writers' most active position lies at 43500 strikes with over 12 lakh OI shares and over 8 lakh OI shares at above strikes of 44000/44500.

"In the power financial space, there is REC, PFC and they deserve a look because a lot of capex is happening in this category and there also the books have been cleaned. They are in a much better position to lend. REC, PFC can be looked at if we are playing the power story."

“Use fall to buy into hotel stocks. The next three-four years are good for most of these hotel stocks and they have got bought into a lot. On any sign of negativity, they get sold off the most. That is happening now. Overall, as a longer term view, it is good for them to accumulate and keep on accumulating over the next few weeks.”

The Relative Strength Index (RSI) is at 75.9. RSI above 70 is considered overbought. This implies that the stock may show a pullback. MACD is above its center and signal line, this is a bullish indicator.

Many of the privately-run companies have been rightly priced (if not overpriced), and from a long-term perspective, while you want to keep your “core” portfolio around better-run private companies, the "satellite” part can still be favoured towards PSU stocks, Ahmed added.

REC, incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 29689.60 Crore) operating in Term Lending Institutions sector.

Supreme Industries declared a special dividend of Rs 6/- per equity share. The stock shall trade ex-dividend on November 7, 2022. In the past 12 months, the company has declared an equity dividend amounting to Rs 18 per share. On Friday, the scrip was trading 1.63% higher at Rs 2,237.10, over its last days closing price of Rs 2201.30.

Shares of REC command a high dividend yield. The company in the last FY offered a dividend of Rs 15.3 per share, which at the current share price of Rs 96.5, translates into a high dividend yield of 15.81%.

The Board has approved the appointment of Malathi Sundararajan, Executive Director (F&A) as the Chief Risk Officer (CRO) with effect from January 1, 2023, till the date of her superannuation -- November 30, 2024, in place of Vijay Kumar.

Going ahead, easing supply-side constraints and lower demand in the impending winter season, an increase in liquidity on the exchange platform leading to reduction in prices is likely, which will provide opportunity to discoms to optimize their power procurement and commercial and industrial consumers to buy cheaper power it stated.

The power plant, though not a new announcement, signifies India’s continued reliance on coal for power generation despite the government simultaneously having big ticket renewable energy plans. Another 1,320 MW coal-fired plant will come up in UP's Khurja. Meanwhile, the estimated cost of the Buxar Thermal Power Plant has increased by nearly 17% in over three years

Rejection of the proposal to sell Power Finance Corporation’s (PFC) stake in Rural Electrification Corporation (REC) to Power Grid Corporation of India (Power Grid) had riled up the stocks since the news was out. Here's what the rejection means for PFC and REC-

Power Grid is entering into a cash-rich mature asset ownership stage, with limited growth potential in the conventional transmission space. So, hypothetically, if REC is acquired closer to CMP or PFC's acquisition price of March 2019, Power Grid may end up earning an 11% dividend, the brokerage firm said.

Even as the economy recovered, corporate bond issuances were down by more than a fifth between April and August this year compared to the same period before the pandemic, in 2019. This resulted in higher-rated corporates being able to raise funds at close to the borrowing rates for government debt, the safest asset on the Indian market.

“After Q1 results, most analysts have downgraded earnings by roughly about 8% to 9% for FY23. As a result, everything has culminated into a reverse value versus earnings outlook for the IT space. This is going to be a correction in the IT pack. From a longer term standpoint, once a capitulation happens, it will create value but we need to wait for the right valuation before getting very bullish about the sector.”

Payment cycles had stretched in the past two fiscals because state discoms such as Madhya Pradesh, Maharashtra, Telangana and Andhra Pradesh (accounting for 23 per cent of the overall capacity exposure) held back payments to RE developers following liquidity crunch or contractual disagreements, it added. This increased the overall cycle for the 10 assessed RE companies by over 10 per cent to 180 days as of March 2022 (compared with the March 2019 level).

However, on a month-on-month basis, IEX registered a 9 per cent growth in August. In July 2021, the total power trade volume was 7,151 MU. The total trade volume of 7,805 MU in August, 2022, comprised 6,517 MU in the conventional power market, 437 MU in the Green Power Market, and 851 MU (8.51 lakh Certificates) in the REC Market, according to the statement.

The funds are proposed to be raised through issuance of debentures on private placement basis during a period of one year from the date of passing of the resolution, in one or more tranches, as per the AGM notice.

The limit of Rs 75,000 crore shall be within the overall revised borrowing limit.The annual general meeting (AGM) of shareholders is scheduled for September 16, 2022.REC will also seek shareholders' approval to authorize the board to mortgage/create charge on immovable and/or movable properties of the company, for securing loan up to Rs 4,50,000 crore.