Stock Market News 💥 Market Wrap With Pankaj Pandey icicidirect

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Subscribe to our YouTube channel: https://rb.gy/hpwfb2 • Stock Market News 💥 Market Wrap With Pankaj Pandey | #icicidirect • Markets to focus back on macros and budgetary allocations • Indian markets sailed through a major event to close 2% higher, albeit with episode of extremely volatility. Global markets remained in steady uptrend amid prospects of interest rate cycle reversal. Nasdaq and S P 500 recorded new highs with 2% gains • Broad perspective: In a knee jerk reaction, index corrected 10% last week and formed a panic low at 200-day ema (21200) and now trading at pre-election levels. With major event behind us, we expect markets would resume structural uptrend with an intermediate consolidation phase and CY24 target of 24700 remains intact • In the short term, market would focus on budget expectations and macros like monsoon progression and inflation. Meanwhile, we expect Nifty to challenge 23400 in June 2023, wherein dips would offer a buying opportunity as key support is placed at 22400 (past three-week lows barring election day volatility) • VIX crashed post event: Vix declined sharply by 32% and closed at one month low indicating that market participants are now expecting lesser risk • BankNifty reversed strongly from 52-week ema, maintaining its two-year rhythm, and expected to head towards 51000 • Global setup continues to remain strong and acts as a tailwind with prospects of interest rates cut now on horizon • Brent prices are making lower high-low and expected to remain in $ 75-85 range for extended period • Sectorally, BFSI, Capital goods, Pharma, Infrastructure expected to outperform. • Hidden Gem • L T (CMP: ₹ 3520 Target: ₹4300 Market Capitalisation: ₹485323 crore Upside: 22%) • Larsen Toubro (L T) is India’s largest engineering construction (E C) company, with interest in EPC projects, hi-tech manufacturing and services. The company primarily operates in infrastructure, heavy engineering, defence engineering, power, hydrocarbon, services business segments. • The management has guided for a order inflow growth of 10% for FY25E albeit higher base of FY24 (order inflow growth of 31% YoY). The same is achievable given a strong prospects pipeline of ₹12.1 trillion up 24% YoY going into FY25E. The key prospects are lined up in the infrastructure segment (water/T D/Transportation) to the tune of ₹ 7.25 trillion whereas hydrocarbon segment has prospects of ₹ 3.87 trillion (mostly from international markets. we expect standalone revenues and PAT to grow by 15.1% and 16% CAGR over FY24-FY26E, respectively. The company currently has a current order backlog of Rs 458000 crore • Strong focus on bidding profitable orders, timely execution and monetising non-core assets has helped the company to achieve an ROE of 14.9% and is well on track to reach its goal of 18% by 2026. Even there was a considerable improvement in NWC to sales ratio at 12%, one of the lowest in past many years. The same will be maintained at 15% and will be instrumental in ROE enhancement and compensate for flattish margin in FY25E. • We value L T at SOTP-based target price of ₹ 4300 (Base business at 35x FY26E EPS) and consider as the best capex play in large-cap capital goods space. Focus on lower balance sheet intensity, restructuring of metro project and focus on cash flows will drive rerating for the stock. • For more finance content on stock market, personal finance, investing, watch our top playlists: • 👉 Current Affairs: https://shorturl.at/hjqw3 • #ICICIDirect #StockMarketNews #MarketNewsWithPankajPandey #MarketWrapICICIDirect #StockMarketPrediction #StockToWatch2023 #niftyprediction #stockstowatch #beststockstobuynow • • • • • • • • • • Market Wrap with Pankaj Pandey,market news with pankaj pandey,pankaj pandey icici direct,Pankaj Pandey,stock market weekly update with Pankaj Pandey,icici direct,pankaj pandey icici,Share Market की ताज़ा ख़बर ICICI Direct,nifty tomorrow,शेयर बाजार,nifty prediction for tomorrow,stocks,trading,stocks to buy now,stock market news,nifty prediction,bank nifty,stock market india,pankaj pandey market wrap,market wrap icici direct,stock,india canada news

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