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00:00Okay, so that's the take coming in on the entire auto space from both Vaishali and Kunal.
00:04We also have Chakri Lokpreya, the Chief Investment Officer of Equities at LGTWealth, joining us on the show.
00:09And Chakri, hi, morning. Thanks so much for your time today.
00:12I want to get your sense on some of these capital goods stocks like ABB India, UF Siemens,
00:18or for instance, something like a CGPOWER, LG Equipment.
00:22My colleague was just highlighting about the impact that these stocks could see
00:26from the DGTR proposal on China for their electric steel.
00:30What do you have to make of this development?
00:31To what extent could this bring some cheer back to some of these names?
00:35Good morning. Thanks for having me.
00:37I think there are two or three things.
00:38One is when the GST was cut, there was an expectation that, you know,
00:42the amount that was going to be spent on capital goods would come down.
00:48But thankfully, there has been indications from the government that they will not cut that
00:51and CAPEX will be maintained.
00:53In fact, CAPEX will increase from that 11.4 lakh crores to some other number higher than that.
00:59So, against that backdrop now, I think the valuations are looking okay because the growth expectations
01:04have now come back to the sector, whether it's JBB or Siemens or some of the companies like
01:09Kalpatru or NCC.
01:11And moreover, you know, therefore, the demand for all the various allied services would also go up.
01:16All right. So, that's the take coming in on the CAPEX space.
01:21But, Chakri, along with that, just wanted to have your take on the metal pack as well
01:25because what we understand and even Namira is highlighting the fact that the China production cuts
01:31are getting more aggressive.
01:32That's been one of the stories that awfully it has been playing out for the Indian metal counters
01:38and add to that is the steel safeguard duty as well.
01:42So, it's a kind of double bonanza coming in for the steel sector back home in India.
01:48But what is your sense, given the fact that the sector overall has underperformed so much,
01:53there were so many headwinds coming in on the sector.
01:56But do you see these factors really making something into the numbers as well?
02:03Are you bullish on the metal sector overall?
02:06You're absolutely right on many counts.
02:08You know, there are a few things going in India's favor and in terms of the metal sector.
02:13And one, for instance, where China is getting production, Indian demand is increasing.
02:19Third, you know, companies like Tata Steel are expanding their capacities at a time
02:23when demand from India is strong.
02:25And three, you know, the safeguards that the Indian government has announced
02:30will help in producing some amount of pricing protection.
02:35So, against this whole backdrop, the whole company like Tata Steel or name it,
02:38any other metal company, they're trading at very reasonable valuation of six to seven times.
02:43So, and they've underperformed.
02:44And so, I think, therefore, the upside, because, you know, the demand outlook looks good,
02:50I think it's worth buying into.
02:51Okay, so that's a call coming in on some of these steel stocks.
02:59But, Chakri, you know, talk to us about the entire pharma space as well.
03:03This morning, we're getting news that you have a pharma major that's come out with their
03:09breast cancer drug in India.
03:11And that's, I can confirm, not wrong.
03:12But what is your take on the entire pharma space?
03:15Because over the course of last week, the weekend, and this week itself,
03:18we've seen a lot of USFD approvals coming in for the major drugs that some of these companies
03:23are looking to launch.
03:25So, what's your take on that?
03:27You know, here there's a tale of two stories.
03:29One is domestic and one is international.
03:31On the domestic front, you know, companies like Mankind, et cetera, are well positioned
03:36because the demand remains intact.
03:39There's no major negative surprises out there.
03:41On the international front, you know, all tariff talks aside, it's fairly clear that Trump
03:46will not increase, would not be in a position to increase tariffs on the Indian pharmaceutical
03:51generic sector.
03:53At the same time, you know, in terms of product announcements by the companies, it's in a good
03:57stead.
03:58And the valuations are all right.
04:00I mean, they've moved up a little bit.
04:02But this is a sector that we would continue to be constructive of.
04:06All right.
04:08That's the take coming in on the farmer's space.
04:10But with this, Veshali, just wanted to understand any of your stock ideas for today, which is
04:16making to your list and looking attractive right now.
04:20Definitely.
04:21There are quite a few in fact.
04:23So, one of them is Muthut, which we saw yesterday, that it is already in a very strong uptrend.
04:29And as a disclaimer, we have also recommended to our clients.
04:32So, this is a good new round of momentum setting in.
04:35So, I'm looking at the stock with a target of 3130 as a trading strategy with a stop loss
04:41of 2980.
04:42And the other stock in the cash category that I like is Hind Copper.
04:47That too saw very good volume and a new round of momentum setting in.
04:52So, I think in all the likelihood this can do 320 and 285 would be the stop loss.
04:57Okay.
04:58So, that's Hind Copper that's made its way to Veshali's radar this morning.
05:01But on that note, we'll slip into a very short break and talk more about the trade setup expected
05:05today just on the other side.
05:07You did see profit-taking across the board pretty much while, of course, IT was one sector which
05:16was under pressure from the word go.
05:18But look at Abharti, ICIC, Mank, M&M, Maruti, Aishar.
05:22Even some of the auto plays actually saw some profit-taking set in towards the latter part
05:27of trade.
05:27L&T has really been a non-starter.
05:30That's been the case with Reliance as well, barring a few dashes or attempts that both
05:35these stocks made, I think, in the last week or so.
05:38But, Rakshri, what's the case in point for some of these large-cap heavyweights which have
05:43just been, you know, non-participants in this lap of the market?
05:49L&T, Reliance, classic examples.
05:52You know, you're absolutely right, Aishar.
05:54You know, a couple of things.
05:55One is, you know, in case of Reliance Industries, a couple of things have happened.
05:59Globally, oil prices have come down.
06:01You know, there has been a huge amount of volatility.
06:04And in managing that refining margins has been a challenging fact because, on the other
06:09hand, the rupee volatility has also increased.
06:12All these really high-impactors together, you know, kind of impacts the GRM.
06:17And second is, you know, this new energy business is a very, very significant value kicker.
06:21Now, that's clearly down the pike, and that's where the whole growth is going to come from.
06:26Now, with the GST cuts, you know, Reliance, what you call the retail segment of the business
06:33will clearly benefit.
06:34And again, you will see an uptick in volumes.
06:36So, some of the part story still is very effective.
06:39L&T, on the other hand, you know, fears of CapEx slowdown has pulled down the stock.
06:43But again, now, with the revival of Inten from the government, I think you will see
06:48L&T beginning to perk up.
06:53Okay.
06:53So, that's the take coming in on some of the large caps.
06:56And, Vaishal, give us your sense on how some of these large caps are placed on the charts
07:00because, like we were talking about Reliance, it's not given a significant move in so long
07:05now.
07:05HTFC bank culture is just starting to move a little bit.
07:08And help us understand where on the charts do you see these stocks placed right now
07:13and any momentum on either side, if you're seeing right now.
07:18Well, actually talking about Reliance, talking about HTFC bank, all these frontline stocks,
07:23I mean, they are taking a breather.
07:25Inside, it's access, which is showing signs of revival.
07:29So, I would say a stock-specific movement does exist.
07:32So, I would focus more on access bank right now because in the couple of days, this is trying
07:37to get into a trend.
07:39And Reliance has just been in a very range-bound move.
07:43But still, the support levels are not broken.
07:46So, I would say, when the bias is still positive, keeping in mind 1380, as long as this support,
07:52which is very crucial, is held on.
07:55So, I would maintain a range of 1380 to 1420 for now.
07:59But, well, not much to say.
08:00It's the auto sector.
08:01It is sometimes the steel sector, which is showing some strength.
08:06And that's about it.
08:08Okay.
08:09Vishali, great to have you on the show.
08:11Thanks, as always, for your time.
08:12Let me also welcome on board Aritya Agarwal.
08:15Aritya, hi.
08:16Good morning.
08:16What stock-specific or sector-related trends are you picking up?
08:21Mani, Aisha, thanks for having me on the show.
08:22So, it's more of consumption-related that I see continues to be in focus.
08:28And then you see higher highs, higher lows in some of these spaces.
08:32So, Blue Star is something which I like can be looked at for a fresh trade here.
08:36Yesterday, we saw a good closing in Blue Star.
08:39So, at current levels, I'll be a buyer in Blue Star for a target of 2150 on the upside.
08:44Plays a stop loss at 1920 on the downside.
08:46The second stock is Noctri.com.
08:48We have seen that after a consolidation stock, finally shown a breakout in trade yesterday,
08:55back to buy healthy volumes as well.
08:57So, my sense is Noctri can see higher levels from here on as well.
09:01So, for a target of 1530, I'll be a buyer here with a stock loss at 1350 on the downside.
09:07All right.
09:07So, those are the buy calls coming in from Aritya.
09:10So, white good cap companies, they are definitely making the list of our experts.
09:15Let's watch out for that.
09:16But along with that, one such stock that is going to be in focus is actually Zyrus Life Sciences
09:21because today Antic has come out with a note where they have gone ahead
09:24and upgraded the rating on this particular counter.
09:27From a hold to a buy now and the target price has also been raised to Rs. 1255.
09:33That's almost 20% upside from the current market price.
09:37What they are saying is that growth is to be driven by innovation, biosimilars,
09:42as well as the speciality portfolio.
09:43Their entry into global VMS is boosting the consumer wellness revenue.
09:48And along with that, they are really looking forward to an improved visibility
09:53and accretive acquisitions is what the company has done of late.
09:58So, Zyrus Life Sciences will be in focus today.
10:00But Kunal, what are the charts telling you for this particular counter?
10:04Because I see that this particular counter, do you believe, is ready for a breakout?
10:08Yeah, it's already shown signs of good recovery.
10:10In fact, I was looking at the quarterly charts for Zyrus Life from 1300 in 2024.
10:14The stock fell down to sub 800 levels.
10:17It bottomed out at those 800 mark, I think a few quarters back, month of March, April 2025.
10:22And from there on, we started to see a good recovery for Zyrus Life.
10:27It's come back to that 1000 plus levels.
10:29So, from the relative highs of 1300, the stock is still almost 30% or 25% lower in that sense.
10:37But then I think looking at the last two quarters of recovery,
10:40there is expectation that the stock would probably try and at least come back towards
10:43maybe a further highs around the 1100, 1150 odd kind of a range.
10:47So, I believe that the more these stocks, they generally take time for these stocks to get into a recovery
10:52after such a kind of a steep 40-50% correction,
10:55that generally is an indication that you are looking at a fresh trend building up
10:58and it could be more slow and gradual for the stock price.
11:01So, bullish on Zyrus from a medium to longer term perspective
11:04and I'm expecting 1100 to 1150 as a near term target range.
11:08Right, okay.
11:09That's the take coming in on Zyrus Life.
11:12Shakri, are you buying anything afresh in this market right now?
11:17You know, a couple of things.
11:18One is, of course, you know, we've all spoken about autos.
11:23So, the auto answer is, whether it's the tire companies like, you name it, JK Tires, C8,
11:28all these companies clearly benefit from, one, auto volumes going up.
11:32And second, you know, the raw material costs, which is crude linked, are also coming down.
11:37So, that's an area they're looking at.
11:40And second is, you know, banking, you know, PSU banks with the further rate cuts
11:44and NBFCs also will benefit, whether it's a candor bank or state bank.
11:49And, you know, the new businesses, which is, you know, if your AI is going to become the new big thing,
11:54companies like Anant Raj, which are spending a lot on data centers.
11:58Oh, yeah, that could be one, you know, stock which could be interesting, Anant Raj,
12:03given that now perhaps IT companies may be looking at more on-shoring rather than offshore hires.
12:13But, Alitya, what is your own sense on the charts of Anant Raj?
12:16I'd say it's a clean breakout and breakout backed by LD volumes.
12:22Rather, I would call it very strong volumes.
12:25So, definitely, there's buying here and persistent buying is there.
12:29In the stock, can easily test levels of 797, 95 on the upside.
12:34So, I would be a buyer in the stock for sure.
12:36If you already have it, trail your stop losses, maybe close to about 650 should be a stop loss.
12:41And if you want a fresh entry, definitely you can enter the stock even at current levels.
12:45And you could see levels of 795, 800 from medium term in the stock.
12:51Okay, so that's a take on Anant Raj.
12:53And, you know, Kunal, we were just discussing Anant Raj yesterday
12:55and how this entire data center DCC opportunity could play up for the stock.
13:00But another significant name in this entire data center space is LTI Mindtree.
13:04Give us a sense of how that stock is shaping up on the charts.
13:07And are you seeing any positivity there?
13:09Not really over there because, you know, that stock has clearly been an underperformer.
13:12LTI Infrared Mindtree, I think, made a high in 2023.
13:167,500 levels.
13:18From there on, the last two years, the stock has just been to a major struggle.
13:22Even in the short-term charts, there is lack of momentum for LTI Infrared Mindtree.
13:26The stock is still trading at 5,000, 5,500 band over the very near term.
13:30The concern for, you know, many of the times, many of the stocks, you know, in these times
13:34is that volume, you know, push generally, you know, gets missing.
13:38And when you don't see a major volume push, even after a spade of positive news flows,
13:42which happens into the stock prices, that generally tells you that there is no interest of buyers
13:46into these stocks.
13:47And that's why these stocks may continue to just about trade into their own, you know,
13:51bands of consolidation.
13:52So, I'm expecting the same for NIT Infrared Mindtree.
13:55All right, let's wash out for some of these counters.
13:59But along with that, the other pocket that is going to be in focus today is actually the
14:05companies which cater to import of the cranes.
14:09Because DGTR has actually recommended imposing an anti-dumping duty on imports of the cranes from
14:15China for the next five years.
14:18And some of these domestic companies like Sangvi Movers, Ace Constructions, they are going
14:23to be in focus today.
14:24But Chakri, just wanted to get your sense on this one.
14:27Given the fact that the infrastructure pickup is seen to be happening, what sort of a growth
14:34will you pencil in for such companies?
14:37Because I do remember clearly that post-COVID, when this whole economy was seeing a bit of
14:43a revamp and coming back on tracks, these companies were actually being one of the multi-baggers.
14:50But this DGTR announcement, along with that, the push on the macro side, what's your sense
14:56on these?
14:58You're absolutely right.
14:59You can step back and look, whether it's you're building a dam or a house or an office,
15:03all of them requires cranes, JCPs, and all.
15:06And most of that equipment is imported by Action Construction, ACE, Bharat Earth Movers.
15:13And these companies have also forayed into manufacturing their own equipment as well.
15:19Now, all they needed was a push, and that push has come now from the government.
15:23And now, if that materializes from the same PLI, which benefited a number of sectors in
15:29the past, can do, again, wonders for an ACE or BEML and companies in that space.
15:36But I think the import component is so big that these companies will benefit big time in the
15:41growth that is to come in the coming years.
15:43Okay, a bunch of stocks, which are also going to be in focus then this morning.
15:48And we've talked about autos as to how both Maruti and Hyundai have talked about how much
15:54delivery they actually saw on day one of Navrat 3, which kick-started yesterday.
16:0025,000 cars delivered from Maruti's end.
16:04They state in their own words that it's a response that like they've never seen before.
16:09And for Hyundai as well, they've recorded about 11,000 billings, the highest single-day
16:13bookings in about five years.
16:15Also, because many were waiting for those GST rollouts to happen, so they were holding
16:20back on new purchases in any case.
16:23Other than that, of course, there's the gold financers as well.
16:25Remember, gold continues to extend its gains.
16:28International prices have now hit a record of $37.50 to an ounce.
16:33So, Manapuram, Mutut, they continue to be in focus also.
16:37And, of course, defense names.
16:39The defense secretary has now pointed to big capex push and about 30,000 crores worth
16:45of drone purchases.
16:47So, that particular segment within defense as well is looking quite interesting.
16:53Chakri, the listed pool within the sort of drone manufacturers or the entire supply chain
17:01seems to be very limited right now.
17:03But anything that you're spotting?
17:04You know, I think within drone in particular, I mean, there's no particular drone manufacturer,
17:12whether it's Bharat Electronics.
17:13All these companies are in that, getting into that space.
17:18And now, you know, that has become the new big area, not just drones, but, you know, high-tech
17:22warfare.
17:23Defense spend, whether it's Europe, 5% of GDP.
17:26India wants to spend 2% to 3% of its GDP.
17:30And what it has done, the time to market has reduced dramatically because of technology.
17:36And that's where India is actually in a good space because of its talent pool available.
17:41So, you know, all the defense companies, because whether it's Bharat Electronics or Hindustan
17:46Electronics, these are the end buyers.
17:48And a number of startup service into them, of supply into them.
17:53So, I think if you just look at the big ones, you'll benefit from the drone manufacturing.
17:58Although there is Dronacharya as well as, you know, IdeaForge, which are specifically into drones.
18:06But those are relatively newer listed entities.
18:10But are there anything within the defense pack that you're liking for a near-term trade?
18:16There are a couple of stocks, Aisha, which do stand out.
18:19The first one is HAL.
18:21We've seen a good up move in the stock.
18:23And now it's entering into a narrow consolidation phase.
18:26I think it's a good time to, again, latch on to the stock.
18:28On the downside, 4750 is a good support area.
18:31It shouldn't break that easily.
18:32On the upside, stock can test levels of 5200.
18:35So, HAL is something which definitely tops the chart.
18:38But then second, BEL is also something which is looking quite interesting.
18:42Here, too, we're seeing a similar kind of a chart set up after a breakout and narrow consolidation.
18:47Yesterday, we saw a minor profit taking as well.
18:49So, my sense is you can also look at a BEL with a stop-plus just around 3995 odd levels.
18:54And stock has the potential to cross its previous peak, which was somewhere around 430,
18:59and test levels of 450 as well.
19:01Apart from that, there's a small company, Astra Microsystems.
19:04That is also looking quite interesting, Aisha.
19:05So, that can also test levels of about 1300 on the upside.
19:09On the downside, good support lies between 1000, 50, 1070.
19:14Okay.
19:14So, that's the take on the defense phase.
19:16But, you know, while we're talking about defense, Kunal, yesterday, we had news flow on two shipping counters.
19:21Shipping Corporation of India on the back of multiple MOUs that they've signed.
19:24And also, you had Garden Reach that has bagged a big order from Germany.
19:29So, what is your take when it comes to some of these shipbuilders within the defense pack?
19:33Because, you know, they've been absolutely silent.
19:35But in the last one week or so, we've seen some moves coming in back over here.
19:39So, yeah, I think price activity is suggesting that we are heading towards a breakout for many of these names.
19:44Shipping Corporation of India, MMTC, then you've looked at, you know, GRSC.
19:48There are many names over here where after weeks and months of actually price correction,
19:54these stocks have started to show signs of breakout.
19:56Volumes are making a comeback.
19:57So, even if you look at a cluster of volumes over the last, you know, one week, one month or so for these stocks,
20:03you know, there is a remarkable change for the volume patterns for these names
20:06with respect to the historical volumes preceding the move where these stocks went into a corrective phase.
20:12That itself tells you that there's a buying interest to just come back into these names.
20:16Now, when prices go into a breakout, when news flow starts to become positive,
20:20that's a, you know, more like a perfect ingredient towards stock prices coming out of a major corrective phases
20:26and restarting their long-term uptrends or medium-term uptrends as the case could be.
20:31So, I think in this case, I would probably believe that many of the stocks,
20:34Garden Breach, Shipping Corporation of India, MMTC, etc.,
20:37I think these stocks continue to look very attractive
20:39and I think dips should be taken as good buying or accumulative opportunity.
20:44All right. So, that's the take coming in on select counters with respect to shipping.
20:49But along with that, Kunal, there's been no stopping for Bajaj Finance and Bajaj Finsov.
20:54Anything in particular you're spotting over there?
20:56So, in fact, I actually believe that these stocks would go into a pause over here
20:59because after this recent run-up, you know, there is a,
21:02we are at a point where large-cap stocks are not showing signs of momentum.
21:06And generally, when you don't see too many large-cap stocks firing up,
21:09you expect that the ones which have been doing reasonably well, you know, from the sector,
21:13they would go into a phase of a pause if the run-up is a bit, you know, steep for these names.
21:17Bajaj Finance has done remarkably well in the last one month.
21:20I think the stock has moved from 870-75 levels to 1040-50 plus mark,
21:25which was the recent high for Bajaj Finance.
21:27So, I think in that context, it's a decent 15% plus kind of a price move for the stock price.
21:32And after such a kind of a steep rally,
21:34you generally expect that the stock goes into at least a few weeks of consolidation.
21:38And I think in that process, in case if it comes down to, say, 50% of the rally,
21:42which is closer to 975-odd mark,
21:45that could be a good trigger point or a risk-reward point to initiate a fresh buy.
21:48So, not expecting any major, major trend on an immediate basis.
21:53But I think if these stocks go into a further correction of 3-5%,
21:55that should be a good opportunity for traders who missed out in the early night.
21:59We're talking about good opportunities.
22:01What a surprise from NFC.
22:03The Diwali Mahurad session this time is in the afternoon.
22:06Finally, we all get our evening.
22:08Yeah.
22:09I almost didn't believe it, actually.
22:13I was at 145-245 years.
22:15I was reading that right.
22:18But yeah.
22:19I hope this becomes a phenomenon.
22:21I'm sure it will.
22:22I'm certain it will.
22:23They can't do this once and then take it away from us.
22:27But anyways, yes.
22:28Diwali afternoon is when we're going to have the Mahurad session.
22:32But Aditya, other than that,
22:34any other trends that you're spotting within IT?
22:36Do you think IT stocks are going to continue to see some more down days?
22:41And should they be shorted further?
22:44I won't really short Aisha IT companies, especially the large-cap IT names.
22:47Because if you clearly take a look at their trend, they have been in a downtrend.
22:51And yesterday's move also, if you notice, a lot of these large-cap IT names did see a bit of a recovery from the lows.
22:58So my sense is they could enter into a consolidation, maybe a time-wise correction at max.
23:03And from there on, it should build on from that consolidation phase that we're looking at.
23:09And I would actually be a buyer in some of the names, last-cap IT names, a name like Infosys, a TCS, an HCL.
23:15All three stocks, my sense is, can see a consolidation, a run-up post-consolidation.
23:21So Infosys for me is a buy at current levels.
23:24You can easily look at a target of, on the upside, close to about $1,650, $1,700.
23:30TCS as well looks quite interesting to me, even at current levels.
23:34The Rishward is extremely in favor, with a support on the downside just below $3,000.
23:38On the upside, stock can surprise you with a target of $3,500, $3,600 as well.
23:42And same holds true for HCL Tech as well.
23:45That stock can also test levels of $1,600, $1,700.
23:48So I'm talking of medium-to-longer-term time frame.
23:50I'm not looking at shorting IT, especially large-cap IT names.
23:54Rather, I would look to buy in a staggered manner in this consolidation and maniac correction that we're witnessing.
24:00Okay, so that's a take on IT.
24:02But, Shakri, once again, I want to come to you.
24:04And while we were talking about NBFCs, I want to get your sense on the entire sector.
24:09Because if I pull up the year-to-date charts of some of these companies, you have names like Manapuram, L&T Finance, Muthud.
24:16They're some of the top Nifty 500 gainers on a year-to-date basis.
24:20In fact, something like an L&T Finance is up more than 80%, just a YTD.
24:25What's your take on NBFCs?
24:26And how do they compare with large private sector or PSU banks right now, given the kind of performance all of them have had in the first quarter?
24:34Now, NBFCs are in a good space.
24:37You know, of course, within that, there are a number of categories.
24:39You know, whether we just spoke about Bajaj Finance, it has run up.
24:42But that will benefit from higher, because of the GST cards, higher auto volumes.
24:47Then all the Muthud, they're clearly benefiting, will continue to benefit from the very high gold prices.
24:53And therefore, their loan-to-values look good.
24:56Their kind of collateral is very strong.
24:58Third, if you look at companies like, you know, Sriram Transport Finance, they're also in a good space,
25:04because, you know, the volumes will pick up as the economy picks up.
25:07And the underlying to the whole thing is, as interest rates come down,
25:10and now the expectation is they'll come down even further,
25:13their margins will impact and the volumes will increase.
25:16And therefore, I think we'll continue to be buyers of NBFCs.
25:20Okay, let's get in some mid-cap strategies as well,
25:23going while we wait for those pre-open rates to settle down.
25:26Kunal, what's on your list?
25:27So, I'll go with the buy in Oil India.
25:29That's a stock which, I think, after a correction of 10-15%, has come back into a breakout.
25:35400 is where the stock has crossed those levels.
25:38424 is where I would place the target for Oil India over the very short term.
25:41And stop loss for this trade could be kept at that breakout point of 400 mark.
25:45Right.
25:48Aditya, what about your stock strategies?
25:50Houtko is something which is looking quite interesting to me.
25:53Aisha, yesterday we've seen a good up move in the stock.
25:56But my sense is, and by volumes, so my sense is this is likely to continue.
26:00So, I'll go with a Houtko for a target of 265 on the upside.
26:04A place is somewhere around 235 on the downside.
26:06All right.
26:09Those are the calls coming in from both of our experts.
26:12Let's watch out for that.
26:13But, off the Chakri, the life insurance counters are also doing very well.
26:17Some of these brokerages are also flagging it off.
26:22And they're also liking it with respect to the valuations.
26:25And after that GST reset, they do believe that the penetration is expected to increase substantially going ahead after taking that a bit of an ITC hit in the near term.
26:37But what's your sense on the life insurance counters, Chakri?
26:40Anything in particular that is looking good to you?
26:42You know, you're absolutely right in terms of the GST cut.
26:46You know, clearly it's a very big volume driver.
26:50Volumes were never the issue for this industry.
26:52It was always pricing.
26:54Now, will pricing improve because of GST cut?
26:57The answer is no.
26:59Competition continues to remain very strong.
27:01So, I think this is a sector, you know, we haven't had much luck.
27:06So, stay away from it.
27:09Right.
27:09Okay.
27:10Stay away from it.
27:11Chakri, great to have you on the show.
27:12Thanks, as always, for your time.
27:15Let's just see what the pre-open rates have settled in at.
27:18And it seems like, once again, it's going to be one of those quiet days up until perhaps we see some traction, perhaps.
27:25But here's what else is making news.
27:27And days after the Trump administration hiked the H-1B visa fee, the biggest tech giants are saying that immigration remains vital to America's future.
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