- 1 year ago
Experts said that any progress in the India-US trade deal is likely to trigger short covering on Dalal Street and the market is also looking forward to pent-up consumer demand from Navaratri.
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00:00Good afternoon and welcome to Market Closing Show, which is our collab show between Business Today and India Today Television.
00:07It's 3 p.m. and we will get you all the market closing action of the day.
00:11First, let's take a look at what's hot in the corporate and the financial space.
00:23U.S. negotiator Brendan Lynch meets Commerce Ministry officials at Vanitya Bhavan in New Delhi.
00:30Sources say closed-door discussions with India's chief negotiator Rajesh Akarwal focus on reviving the trade talks.
00:44Markets trade higher ahead of the U.S. Federal Reserve policy outcome with India-U.S. trade talks also on the radar.
00:50Sensex stops 82,000, up 400 points. Nifty tests 25,200 on weekly expiry, while auto stocks lead the rally.
01:00Next, our stocks surge up to 6% in trade on hopes from India-U.S. trade talks revival.
01:10KPR Mill, Well-Spun Living, Indocount and Gukultas exports shine in trade.
01:15Gold prices trade near all-time high levels in domestic markets as MCX October futures hit 1.10 lakh rupees per 10 grams.
01:28December contracts at 1.11 lakh rupees per 10 grams, boosted by global queues and expectations of a U.S. Federal Reserve rate cut.
01:37Deadline relief for taxpayers as ITR filing has been extended for the day.
01:48With just nine hours left now, over 7.3 crore returns have already been filed, crossing last year's 7.28 crores.
01:56Also, a final window for those yet to file.
02:11Let's straightaway talk about the markets now.
02:14In the last half an hour of trade, we are seeing the Nifty actually hovering around 25,225-watt mark.
02:22We're near the day's high point now, 6.10% higher.
02:25The volumes are pretty strong.
02:27And remember, this is the weekly expiry that we are seeing for the Nifty and the Nifty contracts as well.
02:32Now, let's look at a broad-based move that we are looking at into the markets.
02:36Barring FMCG rest, all of the sectors are actually pulling up in trade.
02:39Look at autos, for instance.
02:41We are seeing a 1.4% of an uptick on the auto index.
02:44Realty index follows next with, again, about a percent gains here.
02:48Infrastructure and even the broader markets, the small caps and the mid-cap stocks are actually doing pretty well in trade right now.
02:55Talk about the top gainers on the Nifty.
02:57You have Kotak Mahindra Bank from the private sector banks.
02:59That's up by 2.5%.
03:01After a long call, we are seeing the stock up by, you know, sharp margin.
03:05You can see 2020-odd levels coming in on Kotak Mahindra.
03:09Now, L&T follows next with, again, a 2% up move.
03:13M&M, Maruti Suzuki and also Bajaj Auto from the auto space is up.
03:17Bharti Airtel, also another stock that's also hovering higher in trade.
03:21Let's look at the laggards, however.
03:23Tata Consumer Products is declining in trade, almost a percent lower.
03:26Bajaj Finance, Asian Paints, Nestle and even Sriram Finance and HDFC Live are some of the other stocks that are declining in trade.
03:34But PSU stocks, they continue to shine bright from the last couple of sessions.
03:37They've been all up and about, including defence, railways, power stocks.
03:42All of them are in thick action.
03:43Look at the PSU index.
03:45BEL is up over a percent.
03:46BHEL is also up by over a percent as well.
03:49BPCL.
03:50You also have Coal India, Concore and Gale as among those stocks that are higher in trade as well.
03:56Let's also look at some of the gainers and losers as far as the Nifty 500 basket is concerned.
04:00You do see stocks like Reddington, for instance.
04:03That's about 20% block deal of about 1% equity as exchanged hands in multiple blocks is what we have seen.
04:11And Reddington is the top mover on the Nifty 500 basket.
04:15Look at stocks like even Allied Digital Services, for instance, Zodiac Clothing.
04:20A lot of those textile-related stocks, Ruby Mills, KPR Mills, Google Das, all of them are in thick action right now.
04:27Let's actually welcome our guest on board.
04:28Sani Agarwal, who is the DBP and Head of Fundamental Desk at the SPI Securities, is now joining in on the program.
04:34Warm welcome to you, Sani.
04:35Good to have you with us.
04:36First up, tell us, after this substantial move that we've seen today of 25,250 being crossed on an intraday basis,
04:43how do you see the market move from here?
04:45What is it really drawing from as fresh sentiments as well?
04:48Yeah, good afternoon, Sakshi, and thanks for having me on the show.
04:54I think, again, markets are looking to cross the key major resistance if I talk about technical level.
05:01So, we feel that 25,250 is the key resistance.
05:06In case the market is able to take off that level, then we can see maybe closer to 25,600 or 25,800 levels.
05:15That's speaking technically.
05:16Moving on to fundamental parameter, I think the positive development on India-US trade deal is something which can aid the market to move upwards.
05:28And because that's the only thing, overhang, which we see in the market, if you look from a domestic macro perspective,
05:34I think they are in a very good shape, whether it is a support from the government in terms of tax benefits, GST rationalization,
05:42or rate cut by an RBI, and not to forget the recent upgrade by SNP after the span of 17, 18 years.
05:48So, I think domestic macro is on very strong footing.
05:50The overhang of US, in case there is some abatement in terms of negative news flow on India-US trade deal,
05:59we feel that markets are likely to do well as we look forward to the festive season of Navaratri and Diwali.
06:05Absolutely. You rightly pointed out that there are hopes that are coming in yet again,
06:12that as far as the India-US trade talks are concerned, they could soon resume.
06:16We have already got the chief negotiator of the US right here in India today for a single day
06:22to maybe close some gaps as regards to the trade talks are concerned and how they were stalled for some time, for now at least.
06:29And that's why we're also looking at a lot of stocks that are in the bus.
06:32Look at the textile stocks, for instance.
06:35You know, you name Indocount Industries, KPR Mills, Raymond, Gokaldas Exports, all of them are in thick action today.
06:41So, let's find out whether this is the space that you can once again look at.
06:45Sunny, what's your approach on the textile space?
06:48Yeah, definitely. I think textile has been a beaten down sector,
06:52especially in the wake of their exposure to the US market and the ongoing negotiation.
06:58In case India is able to strike and deal with the US,
07:02I think the textile company can take advantage of an upcoming festive season in the United States of America,
07:08which usually span between November and December.
07:11Still, I mean, textile company has gotten some room to catch up on any loss of business
07:16because of this ongoing trade lock between India and US.
07:22So, if I have to pick one or two stocks among the textile name,
07:25I think Gokaldas Exports and Belspun Living,
07:28these are the two names which we feel can offer a better risk-reward ratio at a current juncture.
07:34With a caveat that India-US trade deal is something which will go through
07:38ahead of the festive season in the United States of America.
07:41Having said that, there are many other businesses.
07:43Absolutely, Sasani. We'll come back to that.
07:47This is a deeper topic and we will try to understand a lot of things even beyond the textile space here.
07:53But there's breaking news coming on your screens, viewers.
07:55Apollo Tires, New Jersey sponsor of the Indian cricket team now.
07:59Apollo's deal will now run until 2027.
08:02Remember, Apollo will be paying 4.5 rupees per game to the BCCI as well.
08:08Remember, this is big news that's actually coming in with regards to the tyre company.
08:13Apollo Tires is the New Jersey sponsor of the Indian cricket team now.
08:18And of course, this is a deal that will take place up until 2027.
08:23Two more years to go for this deal to continue.
08:26And for this, Apollo Tires will be paying 4.5 rupees per game to BCCI as well going forward from here.
08:34So, this is big news that's actually coming in.
08:36Remember, we've also been seeing in the past all the sponsors that were with regards to the online gaming sponsors
08:43that we used to have for the Indian cricket team have actually seen their deals stall
08:49right after the online gaming bill was passed, you know, last month.
08:54And last two months, we've been seeing a lot of, you know, changes in this entire space
08:59because of the reforms coming in.
09:01A lot of companies are completely changing the way and restructuring the way they have been functioning at large.
09:07But finally, we have a new name coming in for the Indian cricket team and that's Apollo Tires right there.
09:14They can see the stock also jump by about 1.6% in trade.
09:18And Apollo Tires is actually replacing Dream 11 there, you know,
09:22with respect to being the team's sponsor on the jersey as well.
09:26Remember, Dream 11 had, you know, pulled out of its deal right after the online gaming bill was passed
09:34which had put a complete ban on all real money gaming as far as was seen.
09:41And Dream 11 was a major, major player on that front.
09:44And we were hoping to see a new name come in.
09:46And there you have it, Apollo Tires is now going to be the key New Jersey sponsor for Team India
09:53and the cricket team right there.
09:55Apollo Tires for you from the Tire space.
09:57Big deal coming in, Apollo Tires.
09:59Any specific chart momentum or fundamental coverage that you can share with us, Sunny?
10:05Yeah, I mean, first of all, I mean, happy to see that Apollo Tires will become a key sponsor
10:14as far as the Indian cricket team is concerned.
10:18Obviously, that can have some bump up in terms of, that can lead to some bump up
10:23in terms of some spend on advertisement by Apollo Tires.
10:26We need to hear from management the exact strategy on how that is going to be spent
10:31and what is an ROI which management is expecting from that.
10:35Coming to fundamentals, again, Apollo Tire right now is leading close to 25 times
10:41price to earning multiple.
10:43Not a favorite stock at a current juncture.
10:46So, among the Tire pack, you have to choose non-stop.
10:48That will be CIT limited.
10:50Okay, fair point.
10:51But the stock is definitely reacting on the positive side at this point in time.
10:541.5% up, 1.7%.
10:57Now, it's actually seen some uptick after that news flow.
11:00But let's go back to trying and understanding the big news point
11:03as far as the India-U.S. trade talks are concerned
11:06as they seem to be back in focus with Washington's chief negotiator
11:09Brendan Lynch in New Delhi for crucial round of discussions there.
11:13This actually comes after the U.S. has imposed steep 50% import tariffs on Indian goods,
11:19a move that India has called unfair and unjustified.
11:22But my colleague, Karishma Sudhani, is now joining in to share with us more on this.
11:27Karishma, help us understand what's on the agenda of these talks.
11:30What are you picking up?
11:33Actually, the agenda is pretty clear.
11:35It's that it's the fair optimism of the fact that we are back on the talking,
11:39on the deal table, on the talking terms.
11:42And this meeting today is going to set a precursor for what's about to come.
11:47It was in the month of July that fifth round of negotiations between the U.S. and India
11:51had to end and the resumption could not take for a while.
11:56And that's because of various other reasons, which are well known to all of us.
12:00Plus, on that came punitive tariffs to us, which have just been a pain for us
12:07when it comes to our export numbers, which also seems some kind of steep spot.
12:10Now, today's meeting will set a precursor to what's about to come.
12:14But optimism hailing from both the ends, especially on the fact that even
12:18White House trade advisor has mentioned that India and U.S. are back on the talking table.
12:24Absolutely. But, Karishma, help us understand.
12:26You know, India has completely refused to budge on the agri and the dairy aspect,
12:31saying that this is a red line for us.
12:33We have to protect our farmers community.
12:35And this is something that is a non-negotiable at this point in time.
12:39What changes, you know, when the meeting happens today?
12:42The circumstances actually still remain the same.
12:46Well, Sakshi, you know, ironically, the key sticking point for us,
12:49though has been agriculture and dairy, it's now being shifted to a different spectrum.
12:53If you see what we have been discussing now is on our dependence on Russia,
12:59which has bothered the U.S. more.
13:00So, we'll not be surprised if rather the pinching point could be on that rather than agri or dairy that now U.S. is looking forward to.
13:09But I'd say everything would be unjustified until we hear officially from what the ministry has to say,
13:16which will probably be in a day.
13:18Absolutely.
13:19We'll keep an eye on that, Karishma.
13:21Maybe by tonight we get to know some of the other details as to what has been the outcome of today's meeting as well.
13:26And that will be an important one that the markets will be tracking even for tomorrow's trading session as well.
13:31Remember, viewers, exporters' bodies say that the pressure has definitely been rising with Ajay Sahai of FIO
13:38pointing out that retaining global market share is actually becoming increasingly costly
13:42as India faces a 30 to 35 percent duty cap compared to the competitors as well.
13:47And the bigger concern he has added is not just the headline tariff,
13:51but the additional secondary tariffs weighing on the industry.
13:54Let's listen in to what the CEO of FIO had to say.
13:58I'm pretty sure that this will bring both the sides on negotiation very shortly.
14:04We have the deadline of concluding this by fall of 2025.
14:08We still have a few months to go.
14:11And I'm pretty sure that looking into the development now
14:14and both sides knowing where the things stand,
14:18what is something which is negotiable or not negotiable,
14:21it will be easy to move forward from here.
14:24You have been also having talks with your FIO body member
14:26and they were perhaps very curious and having high hopes.
14:29What are their expectations?
14:31No, in fact, everybody is expecting that with the talks we should be able to resolve the matter
14:36because otherwise the cost which has to be provided to exporter to retain the market
14:42is quite humongous and that may not be possible.
14:46We are looking into a duty differential with our competitor around 30 to 35 percent.
14:51But I'm pretty sure that BTA can provide an answer.
14:55They can be conducive involvement which may lead to some of the issues relating to the secondary tariff fall.
15:02So, it is not just that the 25 percent tariff is a problem.
15:07I think the bigger problem for the industry is the 25 percent secondary tariff also.
15:12Right.
15:13Coming back to Sunny.
15:14Sunny, now help us understand.
15:16You know, of course, the hopes are up as far as some of easing out of that 50 percent tariff is concerned.
15:23Maybe some of the gaps are closed today.
15:26That could further the talks going forward from here between India and U.S. to the progressive side.
15:30How are you looking at the impact that that could have on the markets thus far?
15:35Remember, over the last couple of weeks, Indian markets are only dependent on the domestic news flows,
15:42specifically on the GST reforms, to really rely on and move up higher in trade.
15:48But there has been a constant resistance above 25,000 that we've been facing on the markets.
15:53Do you think if there is some potential positive outlook as far as the trade tariffs are concerned,
16:00the markets could actually move once again towards the erstwhile highs?
16:05What's your thought?
16:07Yeah, definitely, Sakshi.
16:09I think any progress towards India-U.S. trade deal will definitely lead to a short covering in the market.
16:16So, we have already seen that the long-shot ratio for FII is very aggressive.
16:23So, close to 10 to 11 percent on the long positioning we are seeing from foreign institutional investors.
16:30So, at least any progress on India-U.S. trade deal will lead to a short covering.
16:36And that can propel Nifty by another 600 to 800 points.
16:42That's our view.
16:44And having said that, again, beginning next Monday,
16:48market is looking forward to the pent-up demand from Navaratri.
16:53And that can also give a leg up to the market and confidence that the Indian corporates
16:58can report a kind of double-digit earning growth beginning December quarter.
17:03Absolutely.
17:04Let's actually shift focus and look at what's happening as far as the pharma space is concerned.
17:10Now, all of you viewers must have already noticed that India is seeing a surge in obesity-related health concerns.
17:16And we've also seen Novo Nordisk and L.I. Lilly already being pretty active in this space as well.
17:21In an exclusive, first-ever TV interview to India,
17:25Praveen Akinapeli, who's the country president and the managing director of AstraZeneca Pharma India,
17:30has spoken to our colleague Neetu Chandra Sharma about AstraZeneca's plans to roll out
17:36and to also participate in the weight-loss drugs race as well in India.
17:42Let's listen in to what he had to say.
17:43Obesity, it's a major focus in Indian pharma with Novo Nordisk and L.I. Lilly.
17:50They've already launched their drugs in India.
17:53Is AstraZeneca also planning to enter this segment?
17:56And what is the timeline for an India rollout?
17:58Certainly, I think when you think about the unmet need, clearly in the context of obesity,
18:04you see this has become a global sort of pandemic.
18:07There is a lot of patients across the world and certainly in India that need new treatment regimens.
18:14And it's great to see that the new science is translating into new options.
18:19AstraZeneca, of course, has a long history of investment and bringing scientific innovations
18:24in the context of cardiorenal and cardiometabolic diseases.
18:29So that continues to be an area of focus for us.
18:32And we are working hard to bring the next generation of therapies in that context.
18:37For example, we have some oral GLP-1s that are part of our portfolio.
18:42But the other thing that we are looking at is that really appreciating the complexity of the disease.
18:47So it is not any one disease.
18:49There is a lot of, you know, sort of interconnected factors that play out when we think about cardiorenal
18:54and cardiometabolic diseases.
18:56So hypertension and some of these comorbid conditions are also very much relevant.
19:00So we are not only looking at, you know, for example, something like the oral GLP-1s,
19:04but we are also looking at combinations that really address the complexity of the disease.
19:09So we are very excited to bring those next generation of medicines.
19:13I think the timeline, of course, depends on how the clinical data will pan out.
19:17But this is certainly an area of focus for us at AstraZeneca as well.
19:22All right.
19:23So that's the big exclusive that we've got from AstraZeneca Pharma on TV.
19:27The first ever TV interview given to Neetu Chandra Sharma,
19:30who tracks health for business today, right here,
19:34talking about how, you know, the company is clearly focused on the obesity space
19:38and is looking at rolling out oral drugs as far as GLP-1 is concerned.
19:42Coming back to Sani, Sani, what's your thought as far as AstraZeneca Pharma is concerned?
19:46And also if you could help us understand your own sense of how Indian pharma companies
19:51are now thinking of doubling down on this newfound opportunity
19:55that global pharma giants have already come to India with by launching the anti-obesity drugs.
20:03Yeah, definitely.
20:04I think it's a big opportunity for domestic pharma majors.
20:07And most of the companies are already working on that.
20:11As AstraZeneca, you rightly pointed out, they are working on that.
20:15And in addition to that, a few more names which comes to my mind is Shelly Engineering and Plastic,
20:21which is already making a plastic pen through which the drug will be delivered.
20:26So, whether it is a semi-glutide or a GLP-1.
20:30So, I think Shelly is already working for a Canadian market and I hope that any expansion in market
20:36as far as India is concerned that will benefit Shelly Engineering.
20:40Coming to overall pharma industry, I think CDMO is a space to be in a very solid set of growth.
20:45We are witnessing across CDMO or CRO.
20:49So, if I have to name a few companies over there, SciLife Sciences or the recently listed Anthem Bio Science,
20:56these are the few names which come to my mind when it comes to CDMO space.
21:00Okay, fair point.
21:01So, that's the entire pharma story that we are going to be tracking as well.
21:05Remember, we are also going to be seeing a whole host of momentum across the board.
21:09But, you know, we are also looking at the food delivery space as that's gaining some momentum
21:15right ahead of the upcoming festive season.
21:17We are looking at how Eternal, Swiggy, the quick commerce giants, you know,
21:23Nika for that matter, Hunasa Consumer, the parent company of Mama Earth,
21:28how are they really looking at the upcoming opportunity?
21:31Look at how both Zomato and Swiggy are higher in trade.
21:34They're at the day's high point.
21:35Both Zomato, the parent company, you know, Eternal as well as Swiggy.
21:39Up by 3.5%.
21:40Nika is also up by over a percent.
21:42So, the internet-based companies, the tech-focused companies are back into action today.
21:46In fact, interestingly, Sunny, I'm going to be helping all our viewers and stand through you,
21:51how Eternal has actually now beaten even two Tata Group companies in the terms of market cap as well.
21:57Both Titan and Tata Motors in the market cap race to now join the nifty top 25 companies as well.
22:04In fact, with this, we have actually seen the market cap of Eternal now come in at 3.13 lakh crore rupees as well.
22:12And the stock has been consistently in focus, driven by strong momentum in the revenue growth,
22:18profitability focus as well as the expansion of its quick commerce business that's Blinkit.
22:23How are you looking at these entire space stocks as far as Zomato is also concerned?
22:29What's your call here?
22:31Yeah, I think no doubt that Zomato is trading at an expensive valuation when you look at other well-established players like,
22:39sorry, Titan or for that matter, Hindustan New Deliver.
22:43But ultimately, the point is that the way we are seeing a ramp-up in the number of new customers which Zomato is adding
22:51and the expansion of total addressable market with quick commerce in their hold,
22:56I think J-curve is something which is very close by.
22:59And the way we have seen a ramp-up in a platform fee from 1 rupee or 2 rupee
23:04just a year back to a close to now 14-15 rupee.
23:07I think that number will straight away flow to the bottom line.
23:10So I think the potential to deliver exponential growth in terms of profit is significant,
23:16whether it is for Swiggy or Zomato.
23:18If I have to choose one stock among this food delivery space,
23:21I think Swiggy is relatively well-placed because of the valuation at which it is trading as compared to the Zomato.
23:27And we believe that both the segment food delivery and quick commerce should perform well during the festive season.
23:34Backed by a very robust increase in the platform fee which we have seen during the last 15-30 days.
23:41Absolutely. Now, Sunny, help us understand when we talk about festive season,
23:45a lot of our viewers would also be looking to also shop for bullion,
23:50the yellow metal and the white metal as well, gold and silver for that matter.
23:54Both of them are trading at near all-time high levels.
23:57We've also seen how in the international markets for the first time,
24:01$3,700 per ounce kind of a gold level has been crossed as well.
24:05So the momentum is not just domestic, it's also globally driven as well.
24:09As far as the prices for both gold and silver are concerned,
24:11we're also looking at one more trigger and that will come in tomorrow night
24:15when the U.S. Federal Reserve, the Central Bank of the United States of America,
24:19decides on the rates front as well, the policy rates decision.
24:23There are markets have already penciled in 25 basis points of a rate cut.
24:27That's further probably going to be appealing, you know,
24:31or increasing the appeal for the gold as far as silver metals as well.
24:35I want to understand from you, when we look at a retail investor looks at gold and silver as an opportunity,
24:42we do see the optical high levels as something which is out of reach.
24:45But if somebody wants to participate in this run-up through the listed stock market space,
24:51how are you looking at playing that one?
24:53Are gold financiers a better bet?
24:55Because we are also looking at increased gold loans at this point in time
24:58as the prices soar to all-time high levels.
25:01Or would you play it through the jewelry makers?
25:03What would you do this festive season?
25:06Yeah, definitely, Sakshi, as you rightly pointed out,
25:09gold finance business is the key beneficiary as we see an increase in gold prices.
25:15But one has to keep in mind that we have already seen a rally which has played out
25:19in both the key market leaders, Mannapuram and Mutut Finan.
25:24So a slight caution is advisable over there.
25:27I think another way to ride this sector is through B2B or B2C player.
25:32So we have seen many B2B player recently got listed as far as jewelry sector is concerned.
25:39So two names which we like is one is Shanti Gold and one is Sky Gold,
25:42which is one of the oldest players to get listed on as far as B2B platform is concerned.
25:48And moving on to the branded jewelry space,
25:50I think Senko Gold is the one name which we feel can be added at a current juncture
25:54from medium to long-term perspective.
25:56Fair point.
25:57Well, the markets have shut shop, so let's quickly shift focus to help you understand
26:01how the markets have closed in today's trade.
26:0225,255 near the high point of the day viewers.
26:06We are up by 7 tenths percent, led by strong volumes in the markets as well.
26:11The weekly expiry has been on a very strong footing.
26:15The Nifty Bank also nearly a half odd percent uptake,
26:18260 point of a jump for the Nifty Bank as well.
26:20We've now managed to climb above that 55,147 odd mark
26:24that we had crossed intraday yesterday but failed to cover it towards the closing end of the session.
26:29But today we've managed to close above that level on the Nifty Bank.
26:32What has really led to the momentum?
26:34Auto sector, 1.4 percent higher, the top moving sector in terms of the gains that we have seen.
26:39Which are the top movers on the trade today?
26:41Kotak Mahindra Bank, Larson and Tubro, M&M from the auto space,
26:45all upwards of 2,2.5 odd percent in trade.
26:47Maruti, Aisha Motors from the auto pack also driving in the fast lane.
26:51Bharti Airtel ringing in loud as far as the markets are concerned.
26:54You're also seeing some steel stocks and even the cement stocks that were also buzzing in trade.
27:00But on the flip side, look at Tata Consumer Products.
27:02Down by almost a percent.
27:04Sridam Finance, Asian Pains also dragged a little bit.
27:07We also did see less participation from a Nestle, Bajaj Finance and HDFC Life.
27:12Largely the NBFC space that stayed on the back foot
27:14and some FMCG stocks that continue to be in the downward momentum.
27:18But largely, it was a broad-based positive session that we have seen in the markets today.
27:23Let me also highlight some Nifty 500 names for you.
27:25For those that have shot up in sharp double digits in trade today.
27:29Reddington with a 20% circuit.
27:31We've also seen names like Allied Digital Services, 15% higher.
27:34Mirza International, 15% up in trade.
27:37Remember, this is the leather space that we are looking at.
27:39Zodiac clothing from the textile space that's buzzing.
27:42Ruby Mills also from the same space as well.
27:44A lot of other stocks also that continue to be in sharp momentum.
27:50Coming back to Sunny.
27:51Sunny, your thoughts on what should be done in the markets for the rest of the week.
27:56Does everything depend on what outcome comes in from the India-US trade talk today?
28:00Yes, Akshay, I think SREED will be keenly watching a development on India-US trade talk
28:07and what the way forward.
28:09And maybe ahead of Diwali, SREED is hopeful that some midway solution is there in place
28:16between India and US.
28:17If that is the case, I think SREED will look forward to that development.
28:23And in addition to that, I think the SREED is keenly awaiting for 22nd of November
28:27where we will see a festive season kicking off and the demand trend during the festive season.
28:34Absolutely. Thanks a lot, Sunny, then, for being with us and for sharing all those insights.
28:38Viewers, the markets have shut shop, but we do have an exclusive chat with Union Minister
28:43Hardeep Singh Puri, who has told India today and has clarified that ethanol blending
28:48has no adverse impact on vehicles.
28:51He did point out that India has achieved its 20% ethanol blending target years ahead of the schedule,
28:56saving the country nearly 1.4 lakh crore rupees in fuel imports and reducing the pollution levels as well.
29:03The minister has also stressed that there is no controversy around the program
29:07and that similar efforts have been successful in countries like Brazil.
29:11He also added that the initiative is turning India's farmers into energy providers for the nation.
29:16Let's listen in to that exclusive chat with Mariya.
29:18To help, let's listen to this opportunity, this opportunity is not true.
29:22No part of this has been affected by the government.
29:24The government has given it that in November 2022
29:27will be 10% ethanol blending.
29:29ethanol blending कर लेंगे यह जो हमारा अब्जेक्टिव था यह पांच महीने पहले ही हो गया था दूसरा हमने अब्जेक्टिव कहा है बीस प्रतिशत
29:39ethanol blending वह 2030 तक होगी वह भी हमने पांच-छे साल पहले कर लिया और बीस परसंट
29:46अब्लेंग में कंपनियों ने बयान दिया है CIM Society of Indian Automobile Manufacturers ने बयान दिया ब्रजील में भी हुआ है उसमें कोई विवाद नहीं है प्रोबलम का शुरू हुए है कहीं कुछ स्टेटमें आगी कि हम इससे आगे जाने वाले हैं उससे जाने वाले पे जो होगा अभी इसमें कोई �
30:16अभर में एपकाय अथमिधा वाड़िघींग भंगर काई थारा मैं बहुंग स्टेट्ट्य इसमें खिलाम्रीग है थारा