“We see value even after factoring in harsh cuts to business from Vodafone and Idea,” said Credit Suisse in a report.
“Given the market conditions and the good subscription, BSE is likely to see a good debut,” said Geetanjali Kedia, senior research analyst at advisory firm SPTulsian.com.
Investors were worried that the government may change the capital gains structure and not provide relief to foreign investors on the indirect tax issue.
The India VIX fell 17% to end at 13.97 when trading closed after FM Arun Jaitley made no reference to changing tax laws on equity capital gains.
The upgrade was also because of likely compulsory licensing of non-cigarette tobacco products and impact on unorganised cigarette market under the GST.
“The share price fairly reflects upside from Copaxone 40 mg and approval remains a hurdle,“ said Nimish Mehta, founder director at ResearchDelta Advisors.
The US Fed could raise interest rates by three times or even more, said Andy Xie, a Shanghai-based economist and a former chief Asia economist at Morgan Stanley.
CLSA said a potential merger of Idea Cellular and Vodafone India is likely to impact Bharti Infratel both in the long term and short term.
Several stocks in the February series have seen heightened interest amid the market rally ahead of the Budget, and also tracking the Dec quarter earnings.
This was excluding the unrealised gains on investments in Motilal Oswal's mutual fund products of Rs 193 crore, the company said.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon