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The market construct looks quite positive. But I do not think we are out of the woods yet. My concern would be how the economy shapes up globally and for India over the next 12 months we still think there are headwinds to corporate earnings and the risk premium which actually has not really flared up, we have to keep watching that.
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Neeraj Dewan is cautious about large and mid-cap IT stocks due to high valuations and potential US headwinds, anticipating profit-taking. He also avoids ferrous metals like Tata Steel due to a lack of clarity and weak rebound. Dewan suggests caution on non-ferrous metals and sees continued outperformance in defence stocks like Mazagon Dock and HAL.
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Ather Energy IPO: Retail investors drove demand, subscribing to 94% of their allotted portion, while non-institutional investors (NIIs) subscribed 19%. The Rs 3,000-crore issue is set to close on April 30, with the listing scheduled for May 6.
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