- 13 hours ago
While the IT sector continues to recover slowly from global uncertainties, metal stocks are gaining traction due to rising industrial activity and demand from sectors like electric vehicles, renewable energy, and infrastructure.
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NewsTranscript
00:00good morning and welcome to market opening on our collab show between business today and india
00:15today TV it's just after 9 and we're here to get you ahead of the curve as markets kick off trading
00:20for the day let's take a look at what's hot in the corporate and financial space joyride for
00:26gold continuing with the yellow metal surging $130 an ounce on Monday at the COMEX top analysts say
00:33gold is a safer investment than the dollar global shortage keeps pushing silver to new highs business
00:39today had yesterday told you how mutual funds have suspended silver ETFs for now U.S markets ignore
00:48the simmering U.S China trade tensions find relief in Gaza reason enough to rally Asian markets follow
00:55the lead but there could be trouble brewing in the seas with both U.S and China planning tit-for-tat
01:01port fees from today to target each other's ships this move to hit trade hard blockbuster listing
01:09expected in the bosses LG Electronics India to make its market debut grey market premium hints at more
01:15than 30% listing gains for investors and if that were to happen the Indian subsidiary could end up
01:21being more valuable than its Korean parent if you missed out on LG you could still ride the IPO wave
01:29two big issues expected in the next fortnight lens card set to raise 8,000 crore rupees while discount
01:36brokerage Gro will also hit the market with a 6,600 crore rupee issue this makes October the biggest ever
01:43month for IPOs with five billion dollars raised Indian trade team to visit the U.S for talks this
01:52week progress expected despite a government shutdown in Washington reports say India could offer an olive
01:58branch by agreeing to buy more natural gas from the U.S to bridge the wide trade gap
02:03well we'll take a look at the overnight setup and there seems to be no stopping the march of the
02:16bullion brigade gold prices at the comex surge more than 150 dollars on Monday when markets opened after
02:22a holiday over the weekend silver zooming more than four dollars in a single day and touching an all-time
02:29high of 51.4 dollars to an ounce gold has risen 12% in just a month at the comex and 57% this year in
02:38the Indian market gold is up 13% in the past month silver in comparison has risen quicker 20% in a
02:45month and 76% in 2025 on the comex in India the story more exciting shortage of physical silver has
02:53further driven prices up a whopping 35% in just one month we're now joined by my colleague Shailendra
03:02Patnagar chief analyst and editor's market Shail good morning overnight setup seems to see a bit of a
03:09relief rally or just infusion of positivity once again and we're set for a green start on the nifty as well
03:15absolutely Abha very good morning to you and a very warm welcome to all our viewers across the country and
03:26overseas well mangalwar hai to mangal hi hoga and because you started with silver and gold another 4%
03:35Abha on silver and another one and a half percent on gold so basically what they are doing in silver
03:42they are killing all shorters who had sold blank in the physical market and that has a ripple effect in the
03:51future segment there is absolutely no silver if you go to Chandni Chowk to buy physical silver and they're
03:58demanding a premium of another 8000 rupees on top of what the price is per kilo so that's the kind of mad rally we
04:06are just advising very serious caution but coming back to the nifty yes Abha a lot of positive
04:12activity 25 to 77 is where the index has shut shop in pre-open IPO listing in lng lg india fabulous
04:23numbers from hcl tech on a sequential basis strong moves expected in tires in cables and pharma shares so
04:32this is the basic window to your trade today Abha all right we'll come and look closer at some of those
04:40pockets in a moment but i just want to introduce dhramesh kandh head of equity research at chola securities
04:44dhramesh good morning what's the setup looking like to you headed for a positive start
04:49yeah good morning Abha yeah i do think today should be a positive day for the market and as we walk into the
04:56earnings season more and more earnings are likely to be discounted but the margin of safety sets in
05:03favor of you know market being on the upside rather than on the downside so we have been
05:07trading this range 24 500 to 25 500 and now we are slightly you know nudging towards the upper end of
05:15the range so i think they should be respected on the green side okay earnings dhramesh and we've got
05:22to talk about hcl tech what a fantastic set of numbers uh revenue guidance maintained profit in line
05:29showing ai revenue which is something that you know it's the first to do from the it pack it's a
05:35solid solid set of numbers uh and very very different to what we saw from tcs yeah i have a
05:43different take on this okay i mean nowadays if two or three percent kind of you know revenue growth is
05:50there we take it as a solid set of numbers and still we are giving it 25 30 p multiple so i i mean it has
05:59to be taken with a pinch of salt but nonetheless it's at least better than the other it companies
06:03i mean for example tcs which have reported on an elixir which is reported in light of that it does
06:09look better and this does offer you a silver lining that maybe things may turn around for them
06:15the you know the what was a significant part of sdl tech is that they reported their revenue from ai
06:21module and that is what will be relevant i think going forward other companies will follow suit
06:25and 100 million dollars are good to start with considering the size is still big and but yeah
06:32market will give it a trading you know thumbs up today and we can see some traction going forward
06:37into display but structurally things are still not very you know rosy for the it space all right
06:43that's dharmesh's view coming in on hcl shell do you think you know we'll see some kind of a push
06:50on it today given those earnings or would you agree with dharmesh that it has to be taken with a pinch of salt
06:56abhab three days ago we had recommended look into itb's etf as floated by nippon india amc
07:08that's the best bet given the circumstances and the fact that it's corrected very very sharply don't focus
07:15on individual stocks just bet on the entire sector it's been beaten black and blue and this is the
07:20time to get in for long-term investors to make very serious money as they have following business
07:26today advice on hang sang etf on mafang etf over the last two years abha right so our experts very
07:34cautious on it this morning we'll wait and see how hcl tech responds when we open up few other stocks in
07:40news uh aisha motors they're going to integrate their ev brand with core operations we've got just
07:46style q2 net income missing estimates there on a just style uh kec international will be in focus on
07:52the back of an order win close to uh 1200 crores there ongc and we also spoke to the management will
07:59bring you that excerpt in a short while but they're targeting about a 15 percent cost cut and also eyeing
08:04global tie-up so a few elements of news coming in there on ongc as well wari energy are looking to
08:10offer up to 10 percent stake via private placement so wari is also going to be in focus today rbl bank
08:17we've been talking about that one a lot as well um emirates nbd may buy a controlling stake and we'll
08:23come back and talk to the ramesh about that in just a moment and what it could potentially mean for
08:27rbl meanwhile lodha acquiring 100 and cbpl for close to 500 crores hero motorcorp entering italy via a
08:35partnership so that's also in the news and a whole host of other stocks as well that will continue to
08:40track on opening bell just counting down now to open but just to recap the setup for you we've had
08:45extremely low inflation numbers we've got the gaza peace talks firing up global markets everything in
08:51the green uh we have this morning of course um the nifty also set now for a positive start some focus
08:58on auto some focus on earnings let's see what nhcl tech does this morning on opening bell and of course
09:04we'll continue to bring you some of the other top movers in today's trade as well let's take a look at
09:09where we've opened up 25290 on the index up about a quarter of a percent right now on opening bell
09:16nifty bank steady right now let's take a look at some of the other gainers and losers
09:21as well and see where the action is at it is definitely seeing an uptick up about a percent
09:26take it with a pinch of salt sure but definitely seeing some cheer on the it index this morning
09:32post those hcl numbers apollo hospitals hcl tech up two percent tara steel one and a half percent
09:37apollo hospitals has been consistently on fire zomato ongc hindalko some of the other names
09:44on the um green end of the list this morning some of the other names there on the downside tata
09:50motors htfc bank maruti suzuki so it was actually seeing a little bit of a pullback indusin bank
09:56access financials clearly is where the pressure is this morning access titan adani port some of the
10:02others there on the losers end of the state because shell what are you spotting on opening
10:07uh abhab silver silver atf is up 7.7 uh it's a squeeze that is uh getting to epic proportions mcx at a
10:24record high because silver is climbing therefore 9237 three percent hindustan zinc india's biggest
10:32producer of silver uh up 3.7 percent 2.7 percent so that's how it is earnings results anand rati
10:416.4 percent higher 31 22 and of course uh there is absolutely uh no stopping uh uh silver etfs all
10:52all all over the place as far as my markets are concerned and of course advanced decline at this
10:58point of time uh 14 54 shares in the green 700 in the red it's a very easy peasy two is to one
11:0517 out of 19 stock indices are in the green so it's a great start 24 300 is where the nifty expiry
11:13is likely to be today abha all right there may let me come to you then on some of those uh
11:19stocks in news we've got a whole host of movers there but let me come to you on anand rati
11:24because the brokerage space we had earnings of course we've got grow also set for a public issue
11:30um you know i i know it might be uh difficult for you to comment on the space but just to uh get an
11:35understanding from you on the kind of valuations and the kind of opportunity that may lie here for
11:40investors yeah as far as evaluations are concerned you know wealth management companies or amcs get a
11:46better valuation than the brokers and basically it's almost twice the valuation multiple they enjoy
11:52so what we have been you know advising our clients is to go for a basket by kind of a thing where you
11:57have infra plays like bsc mca cdsl into one basket with amcs into the other basket and third is the
12:04broker so the weight is 40 percent you should go for the infra play almost 40 percent on the amcs and 20
12:10percent on the brokers so because workers have too many caveats market being up and down and then you
12:15have this options you know uh sword hanging by the regulators how much expiry they will cut down on
12:21so all these things put to place but having said everything this is a space to be in for next
12:26decade so this space is likely to grow very fast all right clear move on the capital markets index
12:33there this morning up a straight two percent solid move on anand rathi as well host those earnings
12:38let's also talk about those metal names hermation primarily it's uh you know hindustan copper uh that's
12:43moving on the back of what we're seeing on gold silver and of course some of those other precious
12:48metals in the sun copper in particular and and also we've been talking about uh you know whole host
12:53of other stocks that are impacted by the move on uh gold and silver but uh in copper this morning is
12:58up over two percent are you tracking some of these metal names yes we have been tracking metal limbs and
13:05we have been liking basically kandalco which also offers a copper place and then hindustan jink where you
13:12have a play on lead and silver put together and the on the ferris side domestic like jsw steel so these
13:19are the three plays which we have been liking but in the space i do think there would be attraction in
13:24both base metals as well as the first part of the metals primarily because industrial activities on the
13:30housing and silver one caveat is silver has a huge 50 percent industrial usage as well so that is also
13:35fueling because of evs the battery they use silvers the solar panels the entire you know panel use a good
13:41amount of silver and there are other industrial use of silver in the pollution control equipment
13:46role so this is a trade which is likely to play out hindustan jink is still fairly undervalued if you
13:52just ask me on the valuation matrix so i think this whole place if you play as a basket and you have to be
13:58a brave one you have to weigh the volatility in between then around 30 35 percent kind of analyzed return
14:05from here on to next one is likely to be there okay thank you for that detail look at
14:11the metals pack three and a half percent on hindustan zinc this morning as well so the entire basket
14:17is seeing a very strong move in zinc in copper darmesh also talked about in dalko and some of the
14:22other metal plays as well the index is up close to a percent right now shell from the broader markets
14:27what else is catching your eye
14:33uh abha i wish i could repeat silver but i won't no uh but we've established that fresh record high
14:40but with finance one point absolutely but with finance come but with finance a gold financing
14:47company all-time high lnt finance doing very well and of course uh eternal uh zomato fresh record high
14:55this is something to be kept an eye upon ahead of its earnings and bajaj finance so the theme is
15:02nbfc's that finance consumer goods that is doing to do very well and of course this is again uh behind
15:10the ipo of lng lg india which was a massive massive success maybe dharmesh ji can offer us a guideline on
15:19where it will be listed and what price not to buy it at at the opening tick abha dharmesh let me take
15:28that question to you then see lg electronics has been very fairly priced i mean they have
15:35left many things on the table to for the investors and this is what we call an ipo where you have
15:40a good bargain for the investors to take off from the table i think 30 35 percent should be the opening
15:45tech high any if any time during the date comes to around 20 percent from the you know it should
15:52price high kind of a thing if it comes around that then it's definitely a good buy from investment
15:56perspective because it's not only caters to you know b2c kind of a segment even b2p plays most of
16:02the compressors are all of lg and they have also setting up a plant which will supply increase the
16:08capacity of their compressors for the overall supply to the country i think this will be related big time
16:13if you are holder for it for at least two years time frame then it's definitely a doubler from here
16:19just to match it to the pl values and set all the peers may come down to some distance to match lg's
16:25price so we have been very aggressively recommending this to our clients let's see i mean we are hoping
16:3030 percent kind of a listing price gaze okay oil and gas is also looking good today up about eight
16:38tenths of a percent right now and uh remember ongc is in the news they're going to be investing
16:44about 400 million dollars in phase one of the ongc bp redevelopment project speaking to business city tv
16:51the company said the investment will play a key role in improving production efficiency
16:55and recovery rates from mature fields let's listen
17:00uh sir you of course with the phase one redevelopment of ongc bp you know uh project under implementation as
17:06well uh what's your forecast on that project sir and when do we see uh you know timelines coming to
17:11which see phase one project be broadly is related to wells phase two is coming out where there are
17:20some wells and maybe some facilities as well couple of indications they have given when they are going
17:25with the hub model concept for evaluating things small small facility so in case those are useful to us
17:33still both the teams are under interaction we may advance it why wait for phase two do it now
17:42and phase one will continue it's couple of years only this fy next fy and then uh by that time next
17:49phase will come all right uh you mentioned about true production sir how sustainable is the recent
17:54reversal in ongc's standard for production and where do you see production growth coming from now
17:58uh i'm pretty sure that it would remain stable and when i talk about where from production growth is
18:06expected see that's why we have engaged the mumbai high biggest we expect some advancement there
18:13the projects which we have conceived now like gas production will give me some production we are
18:19uh you know monetizing dsf2 fields in western offshore we are ready with the broad study done uh with
18:29respect to i think it was dsf3 if i am correct in east coast uh also to go to the market but we are just
18:35waiting these uh uh subject matter experts to conclude the study so that we are more sure on that and these
18:43will get us values and lastly sir 4300 crore rupees you know being invested over 20 plus projects which
18:49two or three of them would you think would ultimately yield the maximum output for you
18:55dabban will yield output to me dsf will eat output to me both in uh west coast east coast of course we
19:02have not yet committed fully we will be committing in time to come couple of things we are doing in east
19:08coast with respect to the wheels the rigs are being hired once they'll come we'll deploy them they'll
19:13give some gas volumes to me so we are looking for additional development of ratna we are expecting
19:20some volumes from there okay action today then we're looking at it we're looking at metals it remember
19:28on the back of hcl uh metals on the back of those uh silver prices copper prices that's what's moving
19:35we've also seen action in bfsi on capital markets index capital markets post anandrati earnings bfsi on
19:42the back of of course financing companies also rbl bank and i'm just going to get a closing comment
19:48from darmesh on that darmesh lots of buzz right now around emirates nbd possibly buying a controlling
19:55stake i just wanted to get a quick view from you on rbl bank yeah definitely it's a big positive for
20:01rbl bank because it's really a huge equity in fusion and they will get rid of their asset quality
20:06problems which has been you know lurking around for quite some time and this is the third in the
20:10sequence after yes bank and then saman capital and now uh if rbl bank deal goes through so good for the
20:16country i mean good for foreign participation into the banking space but for rbl bank the stock
20:22only caveat is the stock prices are quite high so on valuation side it's i mean it may be seller news kind
20:28of activity and then give it a time uh how the performance sets in and then investors can get
20:33back into it all right gentlemen thanks so much for joining us this morning and uh i'll i'll accept
20:40shell that it really is silver all the way keeping us on our toes with those new highs across all of
20:46those uh metal indices we'll continue to track all the action for you and also get ready for an exciting
20:52lineup on our business today tv's diwali special market masters at 1 30 today here from vijay kadia
20:58md kadia securities sharing his market insights and at 4 pm devina mehra founder and cmd first global
21:04and nilesh shah md and ceo envision capital with their market outlook and top strategies
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