Achieve the rupee goal as well. He stated that the business is making a substantial profit. Hold onto the bonus shares, Sanjeev Bhaseen advised. The company is expected to report quarterly results on Friday showing a profit of 4,500 crores.
Corporate results are a big deal in the bonus shares market these days, and as we saw with HDFC Bank’s results, market trends are also influenced by the performance of some large companies. On Tuesday, however, the market saw selling pressure at higher levels following a notable rise on Monday.
Tuesday ended with the Nifty closing at 21522, down 215 points from the previous trading day. In the midst of this, bonus shares market analyst Sanjeev Bhaseen stated that there will be sporadic profit booking and that there is a bullish trend in the Indian markets.
Bhaseen suggested purchasing Interglobe Aviation Ltd. (Indigo), noting that the bonus shares should be bought because the company is anticipated to report its best quarterly results. He said that Friday’s quarterly results for Indigo will be extremely lucrative.
According to Bhaseen, Indigo will make a profit of 4500 crores, which will surpass forecasts. He advised buying this bonus shares and gave a target price of 3100 rupees, with a stop loss placed at 2835.
According to Bhaseen, Indigo’s initial target is 3100 rupees, but it may reach even higher, and it wouldn’t be shocking if it reaches the 3250 rupee target. He said the business is making a lot of money and has proven to be cost-effective. Indigo’s flights are all full and there are a lot of reservations made in advance.
In a bearish environment on Tuesday, Indigo’s share closed at 2,921.30 on the market. It displayed a growth of 0.87 percent during this time. Investors have received returns on their Indigo bonus shares of up to 38% over the last year.
Bhaseen conveyed optimism about the company’s growth and fundamentals, promising the best results in the future, which will boost the bonus shares price.
What do you inform your clients of? Is now the right time to purchase? Do you believe that the worst of the bonus shares behavior and the worst of the mood around the world are over?
Such flimsy sentiment has not been witnessed since Covid. We think this could be a turning point. The money flow to China and other markets has, we are quite certain, peaked. We are benefiting from three factors: low oil prices, a weakening dollar, and bond yields. Although there is still uncertainty surrounding the rate, bond yields and the dollar are suggesting that the majority of the fund activity may be finished. As quarterly results are released, India’s underperformance should start to show improvements.
India is undoubtedly overweight, and 16,800 has so far held up well. Because there are a lot of short positions on the market that could see a lot of covering and value buying in the next three days, I believe we will take out 17,200 in the next two days. I will be very surprised by the expiry we see.
Could you provide us with an instance where you saw a sizable amount of purchases after the bonus shares started to show value?
Check out the PSU bundle. At Rs 510, this is a great deal, considering that everyone was targeting State Bank at Rs 600. PNB and Canara Bank, two additional PSU banks, are in the same boat. Everyone is going to announce earnings records. They gain from yields softening; additionally, take the bigger picture into account. According to SBI’s Dinesh Khara, growth won’t be hampered. In fact, there’s been a discernible acceleration of growth in the rural markets. Banks could serve as a stand-in for that.
What do you inform your clients of? Is now the right time to purchase? Do you believe that the worst of the market behavior and the worst of the mood around the world are over?
Such flimsy sentiment has not been witnessed since Covid. We think this could be a turning point. The money flow to China and other markets has, we are quite certain, peaked. We are benefiting from three factors: low oil prices, a weakening dollar, and bond yields. Although there is still uncertainty surrounding the rate, bond yields and the dollar are suggesting that the majority of the fund activity may be finished. As quarterly results are released, India’s underperformance should start to show improvements.
