Receding concern over inflation, led by falling prices of pulses, has sparked expectations of a rate cut by RBI, causing bond yields to fall in the last few weeks.
Emami should be a key beneficiary of a pick up in rural consumption growth in the second half of FY17 due to its product portfolio, positioning, leadership.
“We used to see such high number of stocks in ban period in 2007-2008,” said Hemant Nahata, head of derivatives at IIFL Wealth.
This time, the nervousness among investors is higher because Republican candidate Donald Trump has railed against globalisation and free trade in recent months.
Prabhat Dairy was the best performing stock on Wednesday, up 20%. Umang surged 19% and Kwality rose almost 8%. Parag Milk Foods edged 0.2% higher.
Analysts said the exit of two key members from the management raises concerns and that stock would remain under pressure in the near-term.
Citi said the strong order book of $850 million of PI Industries’ custom synthesis and manufacturing business adds a clear revenue visibility of three to four years.
On Friday, the company had raised Rs 1,635 crore through allotment of 4.9 crore shares to anchor investors at the upper end of the price band.
In a report dated Thursday, the brokerage said the stock is pricing in low expectations from the company's telecom venture Reliance Jio.
It recommends a switch to Crompton Consumer from Havells and to INOX Leisure from PVR. It also recommends a switch to Adani Transmission from JSW Energy.
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