Stock exchanges said that the bottom 100 stocks based on daily market capitalisation averaged in October will be brought under the new settlement system followed by 400 stocks in March. The last batch of stocks will be brought under the new system by January 27, 2023.

“We have the backing of some of the highest quality investors around the world in the anchor round. This validates that the valuation is justified at least in the eyes of investors from around the world.”

Over the next one year, return expectation should not be more than 10% to 15%, says Sandip Sabharwal

“As the Fed starts tapering, some of the liquidity is going to get pulled out of the markets and it will definitely have some impact. ”

Promoters held 74.99 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 9.95 per cent and 6.21 per cent, respectively.

Out of the five companies, three are government-related issuers (GRIs) – ONGC, Oil India and IOC. Other two included HPCL and Petronet LNG. The sixth company is UltraTech Cement.

Indian brokerages, which traditionally release picks for the new year in this seasons, are bullish this time on mid-sized names that are focused on reopening of business and travel activity in India.

The Relative Strength Index of the stock stood at 29.5 on Monday.

The Nikkei share average fell 0.35% to 29,507.05, despite Wall Street finishing strong on Friday, slipping from a one-month high hit on Thursday. The broader Topix ended 0.30% lower at 2,035.22.

Tech stocks also fell 1.72%, dragged by Xero Ltd and heavyweight Afterpay, down 4.86% and 0.64%, respectively.