IDFC Securities feels that the strong steps taken by the government in its monsoon session will help the economy in the long-run. One should start cherry-picking stocks in companies that have strong fundamentals, Nikhil Vora of IDFC Securities told CNBC-TV18.
Trading is expected to remain cautious next week as a sudden slump in share price of Tata Motors and Ultratech Cement in late market hours on Friday would make investors take cautious bets.
There has been refinancing of a fairly large tranche of loans by United Sprits, the flagship spirits arm of Vijay Mallya-led UB Group. The company has announced that it had refinanced £370 million (USD 600 million or Rs 2,675 crore) of the remaining debt taken in 2007 to acquire Scottish spirit maker Whyte & Mackay.