- #Nifty, #Sensex flat; Financial services stocks support
- #DeltaCorp to demerge its real estate and hospitality businesses
Get all your stock-related queries answered by our technical and fundamental guests with Alex Mathew on 'Ask Profit'. #NDTVProfitLive
- #DeltaCorp to demerge its real estate and hospitality businesses
Get all your stock-related queries answered by our technical and fundamental guests with Alex Mathew on 'Ask Profit'. #NDTVProfitLive
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NewsTranscript
00:00Close to yesterday's close and in fact, day before yesterday's close as well at sub 26,000.
00:06Of course, we hit that briefly in trade yesterday.
00:09We're yet to make that move today 25,920 or thereabouts on the Nifty 50 just about flat.
00:15The broader market is actually under a little bit of pressure and in fact, you have half
00:20a percent declines for the mid cap index and cuts of about 0.2 percent for the small cap
00:26index and all told the market breadth is tilted in favor of the declines right now.
00:32Let's take a look at the sectoral performers and you've got the Nifty Bank which incidentally
00:37has crossed the 54,000 mark and that's something to cheer about, but it's small gain 0.2 percent
00:44or thereabouts less than that for the Nifty Bank.
00:47The big gainer today is the media index and Z is in focus once again.
00:51You've got energy that's not doing too much and the rest really that are a little listless
00:55in trade.
00:56The big loser of course, today is the PSU Banking Pack.
00:59It has been in focus in the recent past as among the winners, but today it is in fact
01:04losing ground.
01:05IT was one of the stars in trade yesterday.
01:07It's losing ground today is down about 0.7 percent or thereabouts.
01:11Among the stocks that we're looking at one in particular that we're focusing on is Delta
01:15Corp and that is the focus on ask profit today.
01:19It is up as much as 4.4 percent on account of the approval that has come through from
01:24the board for a de-merger and the listing of its hospitality and realty business and
01:29to talk about how this will play out and what the shareholders stand to gain, we've got
01:35Mahima joining in.
01:36Mahima, stock is clearly buzzing on account of this news.
01:40It's positive.
01:41Right.
01:42So, Delta Corp is buzzing in trade today and this is on the back of a board approval which
01:46says that their hospitality and realty business will de-merge and will be listed as a separate
01:51entity and each shareholder of Delta Corp will get one share against holding of one
01:56Delta Corp share.
01:57Now, a brief about their hospitality and real estate business.
02:01In FY24, their overall revenue stood at roughly 51 crores.
02:05This amounts to 5.5 percent of the total revenues.
02:09In terms of FY23, their revenues stood at 48 crores and FY24 EBIT loss was at 6 crores.
02:17The margins of the gaming business stand at 32 percent whereas since the hospitality
02:22business still has an EBIT loss, their margins are negative 12 percent.
02:26So, the major rationale of course is unlocking shareholder value plus de-merging the business
02:32will mean that profitable business and unprofitable business will be separated plus the kind of
02:37hangover that Delta Corp as casino business has will be a separate entity overall.
02:45But in terms of development as to what is happening in the hospitality business, they
02:49are in process of construction of 450 room hotel in Goa which has a capital outlay of
02:53450 crores and in the real estate business they have entered into a strategic partnership
02:57with Alpha Alternatives Fund and the partnership involves 11 percent stake of Delta Corp in
03:03it and the outflow is roughly around 90 crores.
03:06In terms of how the company has performed so far, the revenue for Q1 was down around
03:1230 percent, EBITDA down 68 percent, net profit also down 68 percent and margins have shrunk
03:18from 37 percent to almost 70 percent and of course this was because of one of Delta offshore
03:26developers foreign subsidiary which was stuck off and the loss on this subsidiary was presented
03:32as an exceptional item.
03:34Overall gaming revenues were down 25 percent, total expenses were down around 8 percent
03:38and board did recommend a dividend of around 1.25 per share.
03:42In terms of valuation, well the company is trading at 14 times right now and in terms
03:48of stock performance, the shares of Delta Corp have not fared out very well in this
03:53year.
03:54In terms of its one month gain, it's around 5 percent.
03:58In terms of six months, it's been up around 15 percent, however YTD returns are negative
04:0211 percent and in terms of one year, the stock is down roughly 22 percent.
04:09So, this is the overall view of how things are shaping up for Delta Corp as well as the
04:14reason why it's buzzing in trade today.
04:15Thanks so much Mahima for getting us those details.
04:17I like the way that you put it, hangover for the casino business.
04:21Let's talk about what this means for the stock to our fundamental expert as well as our technical
04:26expert.
04:27We've got Sameer Dalal of Natwarlal & Sons Stock Brokers as well as Vaishali Parekh who
04:32is Vice President Technical Research at Prabhu Das Leela, they are joining in.
04:35Thank you so much as always for joining us and good morning to the both of you.
04:39Sameer, I'll come to you.
04:41What do you make of this latest development for Delta?
04:44It's not done too much for the year so far and it is up and about today.
04:48Would you buy this juncture based on this development?
04:51So, you know the bigger problem for me for Delta remains the fact that the government
04:56is trying to collect that historical amount of taxes or GST or till some resolution comes
05:03on that front completely which closes the chapter on that.
05:07I think it becomes difficult for a fundamental analyst to recommend a buy but what this will
05:12do for the company is at least the real estate assets once they split it and move it out,
05:17it will just be the gaming business that will face the issue of the tax and the real estate
05:23arm, the hotel business and whatever they are running in that can continue to see its
05:27growth momentum without too much restriction.
05:30So, I believe it's a very strong possibility that the GST reversal will come and given
05:36till it's not there, it becomes a very difficult buy recommendation but gaming industry is
05:40something we are interested in.
05:42We are positive on that space over the long term because we think there's great opportunity
05:46for growth in India but till the overhang remains, it becomes impossible for us to tell
05:54people to buy.
05:55Yeah, that's a fair point.
05:57Alright, we've got several viewers that have already asked their question.
06:01If you're writing in for the first time, I like to tell you to tell us what your name
06:05is as well as where you're tuning in from and that will help you identify when we're
06:10taking your question.
06:11The first question we're taking today is from Viraj Jetha and he's asking an interesting
06:18question.
06:19He's asking about Mufin Green.
06:22I'm not sure if we're going to have a view on this Vaishali.
06:25He's gotten 20 shares, he's not told us what the buy price is.
06:29How does it look on the charts?
06:30Well, I think the stock has just been in a consolidation, there isn't any trend right
06:37now.
06:38In fact, the stock has fallen from the recent, I mean, high, the highest high that we see
06:42in the recent past is 270 levels and from there on, it has just been consolidating.
06:48So unless and until the stock moves above 130, we can say that it's just nothing is
06:53happening.
06:54So wait it out.
06:55Mitesh has got this next question.
06:59He's writing in from Kolkata and he's asking about IRFC.
07:03He's not told us or actually he has told us he's accidentally purchased at higher prices.
07:08He says 159 or thereabouts.
07:11It's more or less where the stock is currently trading.
07:13I'll come back to you on this one Vaishali.
07:15He's asking whether he should hold or should he sell at this juncture?
07:19I would say actually, of course, the stock has made the high of 228 and currently it's
07:24sitting on 200 day moving average.
07:26So if the stock goes below 150, it's an exit.
07:29But till then wait, it may get into a new round of momentum and we may see an upper
07:33trend to start.
07:34So I would say keep a stop loss of 150 and hold the stock.
07:37Okay.
07:38Sachin's got this next question.
07:39He's got a question on HAL and, you know, I think Sameer has made his point very clear
07:46on this over the past couple of weeks.
07:49And I'm going to take the liberty of saying that while he likes the business, he has made
07:54the point that the valuations are a little stretched.
07:56He has also asked about Bajaj housing finance.
07:59And Sameer, I'm curious about what you make about this counter.
08:02That's why I chose to ask the second part.
08:04So first, correct me if I was wrong when I said what I said about HAL and also tell me
08:09what you think about buying Bajaj housing at this juncture.
08:13No, you're absolutely right.
08:15My view is HAL is rather expensive.
08:18It doesn't capture in a lot of the risk that is associated with the business.
08:22So I agree.
08:23I'm not positive on it.
08:24In fact, I would urge someone, if you want, you can probably buy this at a later stage,
08:30maybe a year down the line, you will probably get it at a lower price or even at the same
08:34price.
08:35In the meantime, you could probably buy something else that can give you returns.
08:38Coming to Bajaj housing finance.
08:41So, you know, we believe the housing finance space has a lot of growth and that is one
08:45of the sectors that we are quite positive on over the next four to five years.
08:49Bajaj housing finance is not a pure all-out housing finance in the sense they're not doing
08:53only retail financing, but they're also doing a lot of financing, which is mortgage discounting
08:58and different businesses, which allows them to earn a slightly higher yield and spread.
09:04So there's a little bit of risk always associated with that whenever a slowdown happens, because
09:08that means that you could have some defaults at that point of time versus residential housing,
09:14which usually has a lower risk because that's the last thing you default on.
09:18Secondly, if you see also where we find Bajaj housing finance has a little more risk is
09:22their loan to value ratio is higher than the rest of the industry.
09:26So that also kind of is a little bit of a needle for us.
09:29We are not denying the fact that the Bajaj group have been phenomenal at the lending
09:33business, probably better than anybody else in the MDFC space.
09:36And they could probably replicate that given their reach, given their strategy, given their
09:41competencies when it comes to evaluating a loan to be disbursed.
09:46But valuations are expensive.
09:48When I'm paying six times book value for a Bajaj housing finance, I'm not denying the
09:52fact he has a much better ROE than the rest of the industry.
09:55But let's put it at this.
09:57When you have other companies like LIC housing finance, who are probably two times the size
10:01or a little more than two times the size when it comes to loan book and trading at one time
10:05book value, I much rather think I have more upside in LIC housing finance in the current
10:10scenario, given the fact that they are also growing the loan book, of course, not at the
10:15same pace, but their ROEs will also eventually move up as they also diversify a little bit
10:21more into the mortgage business.
10:25And the company that we stand out on, we've been recommending, and I'd like to say we
10:28have a holding, we're recommending to our clients as a company called Samman Capital,
10:33which is also a housing finance company.
10:35They are restructuring the entire book.
10:38The legacy book is getting written down, they're doing new loan books.
10:43They're doing it through a co-lending business model, which allows them to earn higher spreads
10:47and better good ROEs.
10:49So we feel that is trading at 0.6 time book value, almost no downside.
10:53It's a profitable company, dividend paying.
10:56So we believe that is where we are more positive.
10:59We'd much rather own the LIC housing finance and Samman Capital rather than holding a Bajaj
11:04housing finance as good as the company and as good as the management is.
11:07Yeah, that's a fair point.
11:08All right.
11:09The next question is on the frontline banks, and this is Axis HDFC and Kotak Mahindra Bank
11:16for the long term.
11:17Harsh has got this question.
11:20And we have more people also asking about HDFC Bank, I'll come to that in a bit.
11:24But I'm curious about what you have to say, Vaishali, about these three, which, according
11:29to you, is the best pick right now, based on what you're seeing on the charts?
11:34So right now, I think Axis Bank is showing a lot of progress.
11:37It's getting into a new round of momentum.
11:39So I would say, since overall, we are positive on all the frontline banks, the private sector,
11:44I think Axis Bank should do well.
11:461-2-0 banks are the near term support now.
11:50And we are now looking at a projected target, a positional trading target at 13-20.
11:55So this looks quite favorable at this temperature.
11:58Axis is the pick out of the three.
11:59All right.
12:00Another interesting question.
12:01Is this fundamental in nature, IEX is a counter that cracked in trade yesterday because the
12:06buzz about market coupling has come back to haunt this counter.
12:11In case you weren't aware of what this is about, market coupling is where, particularly
12:15for an energy exchange, is negative because you have an amalgamation or a meeting of all
12:23of the bids and asks on multiple exchanges for energy.
12:28And right now, IEX controls a large chunk of the market.
12:31So pricing will become a bit of an issue.
12:34Sameer, this is not something that is guaranteed, as I understand it.
12:39Tell me how you read it, though.
12:41You know, this talk has been going on for a really long time, and I think the government
12:46will follow up on it.
12:48But let's put it this, these are, again, IEX, OK, so first, let's talk about my view on
12:53IEX.
12:54We are positive long term.
12:55I'll tell you why.
12:56We believe that the percentage of the trading volume of the power sector that happens on
13:01the exchange platforms is barely about 7 to 8 percent.
13:05And globally, it goes as high as up to 40 to 70 percent, right, in developed worlds
13:10and slightly better developed worlds.
13:13So we believe that the opportunity for more of this volume to shift to the exchange platforms
13:19is quite significant.
13:20And these businesses don't require further capital because at the end of the day, I have
13:25my platform in place.
13:26The only thing that I will need is more people to come and trade.
13:29And we've seen the story play out in the BSC, MCX kind of portfolios where the minute we
13:34saw the volume increases, you see the massive deleting that happened in these stocks.
13:39So we believe IEX is probably going to also have that long term growth opportunity.
13:44Yes, the coupling strategy, I mean, the market coupling that you're talking of is going to
13:48happen.
13:49And IEX does control 95 percent of the market share as we speak right now, maybe 92 actually.
13:54But this will come down over time.
13:57But our simple argument is it is better to have 70 percent of a 300, I'm just giving
14:04300 unit market rather than having 90 percent of a 100 unit market.
14:09So if that happens over time and IEX still manages to retain a good 65, 70 percent of
14:15the market triples, there's huge growth because instead of doing 70 in volume, 90 in volume,
14:21you have 200, 210 in volume, right?
14:24So that is all profits because there's no additional cost to do these trades.
14:29There's no additional expenses in the form of capex or capital to be put in, nothing.
14:36But as the volumes increase, also certain margins are required for increasing the volume,
14:41which allows them to earn a higher other income.
14:44And like I said, this is a cash to debt free, so long term we are positive, but short term,
14:48yes, all these news is pulling stocks down.
14:50So if you get it around 180, I say go out, grab it and buy.
14:53Yeah, that's a fair point.
14:54And also, incidentally, despite the fall that we've seen over the past couple of sessions,
14:59it's still up in the year to date and it's done quite well for itself, as you've seen
15:03on the chart.
15:05Let's talk about the next question, which I'm not going to take to the experts because
15:08it's something that I can answer.
15:11HDFC Bank shareholders, will they be eligible for HDB financial when it lists?
15:18Yes, because HDFC Bank controls a large chunk of HDB.
15:23It is in fact a holder of close to 96% stake in HDB financial services.
15:29And so therefore, when a subsidiary or a significant subsidiary or a wholly owned subsidiary lists,
15:35then existing shareholders do get allocation and there is going to be some amount of allocation
15:42that you can expect.
15:43Let's talk about Azad Engineering next and we've got Priya from Bangalore who's asking
15:48this question.
15:49She's bought at levels of 700 and she's wondering whether it's a good idea to hold for the long
15:55term and whether it's a good idea to accumulate at the current price for the long term.
15:59What does it look like on the charts, Vaishali?
16:04So I think long term trend has been pretty decent comparatively a new stock.
16:09So I would say, well, it is a good level to start accumulating.
16:121500X has a very good support and that's where we are right now.
16:17So I think accumulate because once we see a movement happening, volume pickup, price
16:22action volume picking up, I think above 1600 it would get back on track to look for targets
16:27of 2000 and all.
16:29So I would say yes, very favourable risk reward ratio and go for it.
16:33Okay.
16:34Musharraf Hussain has got this question of Vodafone idea.
16:39What are the prospects?
16:40He's bought at levels of 10.68 and he's got 9000 shares, very significant quantity.
16:47Vaishali, the thing is when it comes to stocks like this, because of the ticket price, people
16:50tend to buy a large number thinking that they can multiply gains.
16:54But then it's a dicey strategy as well, right?
16:56Because you can lose a significant amount.
16:58It's fallen quite a bit from the high point.
17:01What do you look at the charts and gauge currently?
17:05Normally, we really don't recommend these stocks, but technically, if one has to ask
17:12me, I would say the trend is definitely down, but only a consideration is that on a weekly
17:16chart, it's at a very prominent support of 10.
17:20So if you see a close below 10, then I would say definitely exit because that could trigger
17:24a further sell-off coming towards 850 to 750.
17:28So yes, 10 should act as a strict stop loss and hold for a month.
17:34Got it.
17:35I'm not going to get into the fundamentals because we've spoken about Vodafone idea all
17:38of this week and last week as well.
17:40So we've covered that in more detail.
17:42In case you've got a question on fundamentals too, let me know and we'll take that up.
17:46We've got Kalyan Jewelers that we're talking about next.
17:49This is from Srinita.
17:50She's writing in from Chennai.
17:51Can you accumulate shares at this current level?
17:54And it's an interesting time to talk about a jewellery stock, Sameer, with gold prices
17:59on the way up.
18:02We're already talking about global gold prices at 2660, if I'm not mistaken, dollars per
18:07troy ounce and Indian gold is not too far behind.
18:10We're talking about all-time highs.
18:13Would you buy though a jewellery company?
18:16I think from a longer-term perspective, I would buy, but not Kalyan at this point of
18:20time.
18:21For the simple reason that if you see the valuations have moved up quite significantly
18:26over the last two years.
18:27I mean, the stock has gone from 70 to 770.
18:30I remember I was speaking on some other places where we recommended it as a buy closer to
18:34120 odd levels also.
18:36But I'm not denying the business model has changed, which is great, which is working
18:41on the franchisee model.
18:42The way they work their franchisees, they find a person who can take a cluster of maybe
18:46five to six in a region, which allows them to grow at a much quicker pace, allows them
18:51to grow without further capital infusion, because the big cost of the setting up and
18:56the eventually holding, which is the working capital, is all borne by the franchisee.
19:02They work on a FOCO model, which is franchisee-owned company operated, where the employees are
19:10theirs.
19:11And we believe that the growth of jewellery, when it happens, it's going to happen more
19:16now going forward through the store format rather than your individual jewellers coming
19:22to your house, because there you get a big variety to see things and purchase.
19:28The opportunity is large, but I would wait for a significant correction before buying
19:32a Kalyan jewellers.
19:33Even Titan, it's recently run up from 3,100 to 3,700.
19:38I would wait for a minimum 20 to 25% correction across the board before buying into any of
19:43these jewellery counters.
19:44I think they've run up far too much, far ahead of fundamentals, which factors in all the
19:48positives for the next maybe two to three years.
19:51Fair point.
19:52You know, I'm curious about gold loan companies, but then that's my own question.
19:56So I'm going to reserve that for later.
19:58Manra Bank is the name of the counter that we've got to ask about, and Murali is asking
20:04about this.
20:05He says that he can hold for a period of one year.
20:07He hasn't bought yet, and he's wondering, Vaishali, if it's a good idea to buy at close
20:11to 108 or thereabouts.
20:12Well, overall, PSU banking sector is at a crucial support level.
20:13So it makes sense in longer term as a vision, I would say, start accumulating with the support
20:14of Manra Groupies.
20:15And I guess, well, gradually this stock should do well and go towards 130-140 as the next
20:34projected target, if an yearly target is what we are looking at.
20:40All right.
20:41We've got a question from Roshan.
20:43He's asking about Inox Wind.
20:46He's bought at levels of 252.45 or thereabouts, and he's asking a fundamental question.
20:51Should it be held?
20:52And would you continue to add at this price?
20:55Sameer, what's your view on the fundamentals?
20:57So if he's a long-term investor, I guess he can continue to hold, because the opportunity
21:04for the renewable space is very strong.
21:06Would I recommend a buy at this point?
21:07No, I would not.
21:08For the simple reason that, again, valuations have moved up, factoring in.
21:12So you see, in this market, what's happened is valuation multiples have moved up across
21:16the board.
21:17Everyone knows that India is now shifting their larger chunk of their future plans of
21:23energy to renewable, which is solar and wind.
21:28And Inox caters to that.
21:29Inox has a decent-sized order book, which is expected to continue to grow over the next
21:33three to four years.
21:34As they keep executing that, the profitability will increase, not only because of volumes,
21:40but also operational efficiency.
21:41So you'll see the margins expanding as well.
21:44But all of that is known to the market.
21:46It has been known to the market for the last two years.
21:49And across the board, Inox Wind, if you just pull up two-year charts of Inox Wind and Suzhalon,
21:53which are the two large players in the market, you will see a massive, massive re-rating
21:58that has happened.
22:00Stocks are fully priced because of this expectation.
22:04So it's a very strong possibility that they will see sideways correction in Inox Wind
22:08as well, maybe even a downward correction.
22:11But if you are a long-term investor, like I said, the growth opportunity is still good
22:14even past the three years.
22:15So the stock could probably move up over a period of time.
22:18But in the near term, no, I'm not expecting a move up.
22:21I'm, in fact, expecting a correction.
22:23So if it falls, buy.
22:24These are both good counters.
22:26But if it's at this level, no, I'm not recommending a buy for Inox, especially.
22:31I heard Suzhalon.
22:33You were talking about Suzhalon and Inox Wind, right?
22:36Correct.
22:37Correct.
22:38Both together.
22:39Yeah, yeah.
22:40So that's, no, I was just checking if I heard correctly.
22:43And that's what we're playing on the screen as well.
22:45The stock performance of both has been incredible, to say the very least.
22:49If you thought that Suzhalon was an outperformer, then, hey, meet Inox Wind.
22:54Sundaram Fasteners is the next counter that we're talking about.
22:57Siddhesh Chipkar from Mumbai is asking about this.
23:00Bought at levels of 1408.
23:02The stock is currently trading below that price at 1390.
23:06From the technical standpoint, he's bought 100 shares.
23:08He's wondering whether to hold or exit.
23:10Vaishali, what's your view?
23:11Sorry, I don't.
23:12Is it a BSE stock?
23:13Sundaram Fasteners.
23:14So, no, I believe it is listed on the National Stock Exchange as well.
23:22OK, I got it.
23:23Yeah.
23:24OK.
23:25I think it's fine.
23:26If you're holding, you should continue holding, because I think there isn't much happening,
23:30but long-term trend looks promising, and this can go towards 1500 levels, so continue holding.
23:36OK, fair point.
23:37All right.
23:38Sameer, as well as Vaishali, we're heading into the rapid-fire segment.
23:42This is something we've done in the past as well, so I'm just going to launch into it.
23:46Two minutes, we'll take as many questions as possible.
23:49Dr. Reddy's Laboratories bought at levels of 6775, and this is a question coming in
23:54from Ukin, who's writing in from Bengaluru.
23:57Would you hold on, Vaishali, at this price?
24:00Hold.
24:01Hold is a view.
24:02Venugopal from Vijayawada is asking about SofTech Solutions, which he's bought 200,
24:08OK, Blue Cloud SofTech Solutions.
24:11Can we pull that up?
24:13I'm not sure if we have a view.
24:14All right.
24:15I'm going to try and take another question, because I'm not sure about these stocks.
24:19Garden Reach Shipbuilders, 29% lost.
24:22Mazgon, as well as Bharat Dynamics, all seeing a loss.
24:26Sameer, would you book it out?
24:27Yes, sell.
24:29Sell.
24:30All right.
24:31Jogendra from Bengaluru is asking about a stock that I'm not familiar about.
24:35Sarvana is asking about PC Jewelers.
24:38We have spoken about Kalyan.
24:41Would you buy or would you hold at levels of 123?
24:44The stock is at 152, though.
24:46Sameer?
24:48No view.
24:50No view.
24:51Any view on the charts on PC Jewelers?
24:52Hold with a trailing stop-loss.
24:56Hold with a trailing stop-loss.
24:58We've got Premier Energies, relatively new listing.
25:01The average buy price is 885.
25:04This is Vaish from Ahmedabad.
25:06Would you hold on, Sameer?
25:08No.
25:09OK.
25:10Exit is the view.
25:12So fertilizer stocks, I'm guessing, not fertility stocks.
25:17Fertilizer stocks is the question.
25:19Coming in from Tamila Rassan, who is writing in from Tamil Nadu.
25:22Any view on this one?
25:24GNFC is the name of the counter.
25:26Sameer, would you hold on?
25:27Yes, hold on.
25:29All right.
25:30Rajesh is asking.
25:31OK, we've already gotten that view.
25:3320 seconds left.
25:34Hindustan Zinc, 2,000 shares.
25:36I do not know the buy price, but would you hold at this current market price?
25:40Vaishali, based on the charts.
25:44Hindustan Zinc, currently trading at 509.
25:47Would you hold, Vaishali?
25:48It's a hold.
25:49One can even buy at this level.
25:51Oh, apologies.
25:52I didn't hear that.
25:53Sorry.
25:54The last question.
25:55OK.
25:56Unfortunately, we're out of time.
25:57Apologies.
25:58Sameer, as well as Vaishali, thank you so much for joining in.
26:02And it was a last hectic two minutes, but then I think you've both done yourselves proud.
26:09Thank you so much for joining in, as always.
26:11Well, that brings us to the end of this particular edition of Ask Profit.
26:15Thanks so much for watching.
26:16We'll be back tomorrow to take more of your questions.
26:18Do stay tuned.
26:19This is NDTV Profit.
29:41Hello and welcome to Hot Money.
29:56This is Neeka Bhairavi and you're watching NDTV Profit.
29:59Let's just take a quick look at how markets are faring right now.
30:01Well, we do have the Nifty 50.
30:03The benchmark has not had the best day-to-day cuts of over two tenths of a percent right
30:06now.
30:07And, you know, when you look at the counters that are leading to the negative bias, well,
30:11we do have LTI Mindtree, Tech Mahindra and Tata Consumer, which are the top losers today.
30:15The IT companies, LTI Mahindra and Tech Mahindra, are down over 2.5 percent in trade today.
30:20But we do have some strength in some of the energy counters, PowerGrid up 3 percent and
30:25NTPC seeing gains of over 1 percent.
30:28When we look at the broader markets, they are underperforming the benchmark.
30:32The Nifty Mid-Cap 150 is the top loser today.