Most of the experts were very upbeat on Bharat Forge and thought it was a good buy from a long-term perspective.
For the second day in succession, the market extended losses with the 50-share NSE Nifty down 47 points at 10,303.20 and the Sensex falling 151.95 points to 33,218.81.
Market experts SP Tulsian of sptulsian.com, Ashwani Gujral of ashwanigujral.com, Mitessh Thakkar of mitesshthakkar.com, Sudip Bandopadhyay of Inditrade Capital and Sanjiv Bhasin of IIFL spoke on the outlook for the market going forward and also on Axis Bank's fund raising plan, the Arvind demerger and why they are upbeat on Bharat Forge.
Bandopadhyay believes it would be a good move by Axis Bank to raise capital and an aggressive investor can probably buy into the stock.
Talking about the market, Gujral says the significant point is the breakout zone which is about 10200-10250 and a fall of 100-150 points doesn’t really scare the bulls easily. The momentum does not signify that there would be a sharp correction.
Gujral thinks the correction is way too shallow to be pressing any kind of shorts, the stocks that one wanted to buy have corrected and so should be accumulated. If crude goes beyond USD 65/bbl only then maybe correction will restart but it pulls back and market could restart the rally.
Most of the experts were very upbeat on Bharat Forge and thought it was a good buy from a long-term perspective. Bharat Forge reported a good set of second quarter performance with profits for the quarter increasing to Rs 203.72 crore from Rs 126.89 crore in year-ago and revenues from operations jumping 41.2 percent to Rs 1,258.02 crore.
