Market analyst Deven Choksey expresses strong optimism for India's renewable energy sector, particularly solar and wind power generation. While bullish on EPC and distribution prospects, he advises caution regarding the high valuations of renewable energy companies. Choksey also favors the insurance sector, particularly LIC, citing its strong financials and distribution network.
Suzlon Energy shares hit a 5% upper circuit after Morgan Stanley upgraded the stock, citing strong business prospects and a 5.1GW order backlog. Q2 FY25 profit surged 96%.
PG Electroplast share price: PG Electroplast's stock soared 15% after its subsidiary, PG Technoplast, secured an exclusive EV manufacturing partnership with Spiro Mobility in India. This collaboration leverages PG Technoplast's manufacturing prowess and Spiro's expertise in EV technology, aiming to establish a significant presence in the Indian EV market.
These are businesses spread across various constructs like B2C, B2B2C, C2C, B2B and even B2G. When we compare the growth rates of Digital companies vis--vis their core sectors, we find these companies to be growing 3x-5x their industry level growths.
With the uncertainty surrounding the U.S. elections now resolved, market attention has returned to fundamentals. A recent 25-bps rate cut by the U.S. Fed provided little relief, as it was already factored into market valuations.
The Indian market is expected to trade higher on 19 November 2024, driven by positive global cues, though caution persists with the India VIX above 15. Options data suggests resistance near 24,000 and support near 23,000. Experts have recommended several stocks for short-term trading, including buys on SBI, Havells, Piramal Enterprises, and Dabur, and sells on BPCL and Siemens.
