Market Bizzz

Benchmark BSE Sensex dropped 72 points as IT shares retreated. Swiggy fell 1.2%, RVNL gained 0.8%, and TVS Motor declined 1.5%. Analyst Viral Chheda advises buying Swiggy above Rs 380, caution with RVNL, and a buy-on-dips strategy for TVS Motor. Investors should consider resistance and support levels for these stocks.

Chirag Mehta, CIO of Quantum AMC, believes that while large caps are undervaluing, small and midcaps remain pricey, showing potential for further setbacks. Mehta sees investment opportunities in sectors like BFSI, IT, and consumer discretionary, despite global jitters. Key focus is on careful stock selection based on robust underwriting and lending practices.

India’s stock market correction is driven by technical factors and presents a strategic buying opportunity. Leading analysts believe India’s structural growth, policy stability, and favorable demographics continue to make it the best long-term investment destination, despite short-term market pressures.

Godrej Agrovet plans to acquire the remaining 48.06% stake in Creamline Dairy Products for Rs 930 crore, making it a wholly owned subsidiary. The deal will consolidate Godrej Agrovet’s position in the dairy sector and is expected to be completed by the end of September. Shares of Godrej Agrovet outperformed its sector, rising by 43.63% in the past year.

The Indian bond market remains steady amid expectations of a potential rate cut by the RBI in April, driven by anticipated sub-4% CPI print. Puneet Pal of PGIM India Mutual Fund predicts steepening of the yield curve and a liquidity surplus in the banking system. Investors are advised to focus on Short-Term/Corporate Bond Funds.

Bond traders are increasingly concerned about U.S. economic growth due to President Trump’s tariff policies and federal workforce cuts. Expectations for economic expansion are fading, leading to lower two-year Treasury yields and speculation of possible Federal Reserve interest rate cuts to prevent a downturn.

Shares of ONGC will be in focus after its subsidiary OPaL shifts from export focus to the domestic market by exiting SEZ status. Effective from March 8, 2025, OPaL aims to boost profit margins by operating as a Domestic Tariff Area unit, enabling it to leverage India’s lower corporate tax structure and enhance profitability.

Tata Power Renewable Energy Ltd has signed an MoU with the Andhra Pradesh government to develop renewable energy projects valued at Rs 49,000 crore. This collaboration aims to establish up to 7,000 MW of solar, wind, and hybrid energy projects, supporting the state’s vision for a sustainable green energy future.

Devina Mehra, Founder of First Global, highlights that the market’s recent fall coincided with FII withdrawals, but over time, FIIs’ actions don’t always dictate market movements. She emphasizes the nearing end of US outperformance, and First Global’s overweight on IT, pharma, auto components, with selective additions in FMCG and chemical stocks, indicating emerging opportunities outside US equities.