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According to Rakesh Arora, founder of Go India Stocks.com, Nifty Metal has been the worst-performing sectoral index from the start of the year. The sector may see mean reversion in margins in the second half of the year, he says.
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Independent market analyst, Rakesh Arora says the Indian equity seems to be caught in a global trend where there is a risk-off trade happening and emerging markets are seeing a sell-off.
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In an interview to CNBC-TV18‘s Anuj Singhal and Sonia Shenoy, Rakesh Arora, a Market Expert spoke about the metal space.
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Dipan Mehta, Member, BSE & NSE said that he is bearish on IT stocks. He says costs are increasing because of Visa overheads for IT companies. Margins are under pressure, he added. Even midcaps, barring the likes of Persistent Systems, aren‘t exciting, he says.
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Speaking to CNBC-TV18 Rakesh Arora, an Independent Analyst, said that it is a long-term positive for Vedanta. "They have a chance to rectify the balance sheet." Public shareholders of Cairn India have voted overwhelmingly in favour of the deal with Vedanta.
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While both the companies will create value for shareholders, it will be lesser than value of its subsidiaries, says independent market expert Rakesh Arora.
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The Rs 35,000 crore debt of AB Nuvo will have to be taken up by Grasim. This fact will not bode well with the shareholders, Sp Tulsian says. He has never seen such a negative move against the minority shareholders, he says.
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Speaking to CNBC-TV18, Gautam Chhaochharia said that he expects an earnings growth of around 10 percent for the fiscal year 2017 and sees a strong fourth quarter for the pharma sector on a year-on-year basis.
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Mahesh Nandurkar of CLSA feels an earnings decline of 2 percent YoY in FY16 is likely to improve to 15 percent growth in FY17, helped by a low base. Earnings growth pick-up should be visible from the September 2016 quarter onwards, he says.
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CLSA has assigned outperform rating to BHEL, saying the state-run power equipment maker could report 40 percent year-on-year growth in FY16 order inflows.
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Talking about the consolidation in the cement sector, Rakesh Arora of Macquarie Capital Securities says UltraTech's capacity post merger with units of Jaiprakash would be almost 90 MT, which is one-third of India's total capacity and production. Hence, he does not see this deal getting Competition Commission's go-ahead
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According to Rakesh Arora, Macquarie, it is a good time to start accumulating. The market bottom can't be too far off, he feels.
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“We don‘t think there is too much downside for Indian markets from the current level. Nifty staying below 7500 level on a sustainable basis is unlikelyâ€, says Rakesh Arora, India Head of Research, Macquarie Capital Securities.
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Ridham Desai, MD, Morgan Stanley India, says India continues to be the best house in a bad neighbourhood and that there is tremendous appetite to buy India.
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All eyes are on Bihar elections to lift sentiment and take the market beyond the range, says Arora.
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The brokerage slashed 12-month forward Nifty index target to 9,642 from 10,219 earlier due to delay in earnings recovery, Singh adds.
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Arora said earnings season, too, is delivering on muted expectations. Overall, there's nowhere to go, except to follow liquidity, he feels.
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Arora expects Nifty to remain stuck in the 8,000-8,800 range for some more time.
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The impasse in Greece is a good opportunity to buy into the market as it consolidates before the next leg up, said Rakesh Arora, Macquarie.
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Rakesh Arora, Macquarie feels stocks, post a 15-20 percent correction, would be cheap and worth buying on dips.
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According to Rakesh Arora, Macquarie, along with the reporting season, resumption of the parliament session on April 20 and particularly the Land Bill, will dictate the market's direction.
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"Downside risks to the market are limited to 3-4 percent from here, while we forecast 15 percent upside potential for the Nifty to 9,600 from 9,940 earlier," says Rakesh Arora, Macquarie.
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According to Rakesh Arora of Macquarie, industrials, autos and real estate provide the best opportunity to gain from the emerging trend. He recommends building long positions on dips.
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A day after Jindal Steel & Power engineered a virtual coup by bagging rights to explore Gare Palma IV/2 and 3 at a low price of Rs 108 per tonne, a development that sent its shares soaring 26 percent yesterday, the company suffered an upset by failing to qualify as a bidder for Gare Palma IV/1.
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The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.6 percent and 1.1 percent, respectively.
