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Most brokerages have cut their earnings estimates to factor in chip shortage impact
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Inexpensive valuation and robust dividend and FCF (Free Cash Flow) yield of 5% remain key attractions making the risk-reward highly favourable.
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Major sectoral indices on the NSE were trading in the red with the Nifty Metal index tanking 1.84%.
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L&T infra major's consolidated net profit fell 67.04% to Rs 1819.45 crore on a 12.05% increase in net sales to Rs 34772.90 crore in Q2 September 2021.
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Trading for the day would remain volatile as traders shift contracts from the current month expiry to the near month contract of November.
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Motilal Oswal Financial Services is bullish on Titan with a price target of Rs 2,560.
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Siddharth Khemka of Motilal Oswal spoke to Money9 on whether markets can see a deeper correction and how can investors strategise better.
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Sensex ended at 61,143.33, down 206.93 points or 0.34%, while Nifty closed 57.45 points or 0.31% lower at 18,210.95
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Sales in the domestic market stood at 3,20,133 units. Exports sales came in at 59,408 units, the highest in any quarter.
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PB Fintech has fixed the price band for the issue at Rs 940-980. Investors can bid for a minimum of 15 equity shares & in multiples, thereafter.