Stock market crashed: Select stocking including Punjab & Sind Bank, UCO Bank, Ipca Labs, Voltas, Suven Pharma tumbled up to 20 per cent during the trading on Tuesday.
Jefferies prefers Polycab India Ltd., Amber Enterprises India Ltd., Voltas Ltd., and Crompton Greaves Consumer Electricals Ltd. in India's small and midcap space. Recent correction provides a good opportunity to evaluate stocks in this category, according to the brokerage.
The Indian market is showing signs of stabilization despite global economic concerns and FII outflows. Nifty is in a corrective phase, with a trend reversal contingent on breaking the 23,807 level. The Bank Nifty remains range-bound, and select stocks like Kotak and HDFC Bank show potential. Metal stocks, especially Tata Steel and JSW Steel, are poised for upside, driven by global factors.
Life Insurance Corporation of India (LIC) reduced its stake in several NSE-listed companies in Q3 FY25, bringing its share by value down to 3.51% from 3.59% in Q2 FY25, according to primeinfobase.com, an initiative of the PRIME Database Group.Among the key stocks where LIC cut its holdings were Tata Power, Tata Chemicals, Voltas, Divi's Laboratories, CAMS, Coforge, and HPCL. Shift In Strategy
Notable companies selected include Hindalco Industries Limited, LG Electronics India Private Limited, Voltas Limited and Blue Star Climatech Limited, which committed a combined additional investment of ₹1,173 crore.
Promoters held 30.3 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 18.08 per cent and 24.36 per cent, respectively.
Promoters held 30.3 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 18.08 per cent and 24.36 per cent, respectively.