The domestic equity market may be in pain deep down, but it still created opportunities for investors on Dalal Street to make some quick bucks since the Interim Budget on February 1.
As many as 32 stocks on National Stock Exchange (NSE) climbed between 50 per cent and 350 per cent in last 103 sessions since interim Finance Minister Piyush Goyal unveiled his Interim Budget.
Nifty advanced 1,116 points to 11,947 while Sensex rose 3,651 points to 39,908 during this period.
Shares like Magadh Sugar, Avadh Sugar, Adani Gas, Mandhana Industries, Tanla Solutions, Ion Exchange, Aavas Financiers, DCM Shriram, Electrotherm (India), Cantabil Retail, Triveni Engineering, Just Dial, Goldcrest Corporation, Goldiam International, Nova Iron, Reliance Nippon, Seamec and Mahamaya Steel Industries gained 60-100 per cent during this period.
Sugar prices are expected to remain stable or slightly higher at Rs 34-35 per kg in the coming months due to a surplus situation but analysts expect production to fall during 2019-20.
India will have a supply glut and closing stock of about 13 million tonnes of sugar for 2019-20, even if domestic consumption and exports are taken into account, said Care Ratings.
Vinod Nair, Head of Research, Geojit Financial Services said, “The market expects sectors related to agriculture, rur ..
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Good information!Thanks for sharing
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