Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today despite Trump's tariffs on India
The Nifty 50 ultimately settled with a cut of 86.70 points, or 0.35%, at 24,768.35. Sectoral breadth was broadly negative, with all major indices ending in the red barring the Nifty FMCG index, which bucked the trend and gained 1.3%. The outperformance in FMCG names was driven by defensive buying amid heightened volatility and upbeat commentary from sector heavyweight Hindustan Unilever.
US President Donald Trump signed a sweeping executive order on Thursday, imposing reciprocal 25% tariffs on Indian imports. The order became effective today as the Indian and US governments failed to reach a consensus on the India-US trade deal. Interestingly, India's neighbour, Pakistan, has signed a trade deal with the US, and the US government has imposed a 19% trade tariff on the Islamic state.
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment is cautious as the Nifty 50 index is facing a hurdle at 24,900. As Trump's tariffs on India have become effective today, the market is expected to react, and hence, 24,500 support and 24,950 resistance for the key benchmark index would be crucial.
Speaking on the outlook of the Nifty 50 today, Sumeet Bagadia said, "The Indian stock market sentiment is cautious as the Nifty 50 index is facing a hurdle at 24,900. After Trump's tariffs on India were imposed, the market is expected to remain cautious. If the Nifty 50 sustains above its 24,500, we can expect some relief; otherwise, there can be panic selling if the key benchmark index slips below 24,500. Similarly, the key benchmark index is facing a hurdle at 24,950, and the index may see selling pressure around these levels."
1] Alkyl Amines Chemicals: Buy at ₹ 2348, Target ₹ 2515, Stop Loss ₹ 2265;
2] IXIGO: Buy at ₹ 233.78, Target ₹ 254, Stop Loss ₹ 223;
3] Vimta Labs: Buy at ₹ 693.45, Target ₹ 742, Stop Loss ₹ 669;
4] Belrise Industries: Buy at ₹ 138.13, Target ₹ 148, Stop Loss ₹ 133; and
5] Max India: Buy at ₹ 217.93, Target ₹ 234, Stop Loss ₹ 210.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
14 minutes ago
- Economic Times
Eris Lifesciences eyes ‘good' share in semaglutide generics, says COO
Mr. Krishnakumar Vaidyanathan, Executive Director & Chief Operating Officer Eris Lifesciences looks to leverage its experience in integrated diabetes portfolio to take a lead among the first wave of generic semaglutide anti-diabetic and weight-loss drugs to hit the market early next year, a top official said. The company is looking at a 'good' share of the market, Krishnakumar Vaidyanathan, executive director and chief operating officer of Eris Lifesciences, told ET in an interaction. Semaglutide is the active ingredient in Novo Nordisk's blockbuster drugs Wegovy and Ozempic. Its patent in India will expire in March 2026. 'We are gearing up to be among the first to enter the market post loss of exclusivity,' Vaidyanathan said. 'We expect the overall market for GLP-1 at the end of the first 12 months (after the loss of exclusivity) to be at least 10 million units… And we expect to get a good share of the market.' Semaglutide is a glucagon-like peptide-1 (GLP-1) receptor agonist. Eris Lifesciences' existing diabetes portfolio includes orals, insulin and GLP-1 in the form of liraglutide. Its network of field representatives, patient connect and service platform in this space gives the firm an advantage over others, Vaidyanathan said. 'We do this day in and day out because of insulin. That gives us the confidence that we'll be able to step this up for GLP-1 as well.'Globally, the GLP-1 market is dominated by Eli Lilly and Novo Nordisk, which are also the two biggest insulin companies in the world. 'Being successful and big in the insulin market provides a huge tailwind when it comes to selling GLPs,' Vaidyanathan said. 'We have combined service with technology and product to create a winning combination in insulin and GLP therapy entry is not any different, which also requires a lot of patient education over and above the service on using the pens,' he said. 'We have an integrated diabetes portfolio because we currently sell GLP-1 in the form of liraglutide.' Dr Reddy's Labs, Sun Pharmaceutical Industries, Cipla, Mankind Pharma, Torrent Pharmaceuticals, and Zydus Lifesciences are also among Indian drugmakers readying to launch generic semaglutide next year. Eris Lifesciences launched liraglutide, a once-a-week GLP-1 product, last September. 'We have taken very good market shares in all the other LOE (loss of exclusivity) opportunities that we have seen in diabetes,' Vaidyanathan said. 'We have taken market ranks of 1 to 5 in each one without exception – vildagliptin, sitagliptin, linagliptin, dapagliflozin and empagliflozin. That gives us the confidence that we should be getting a fair share of the market.' Vishal Manchanda, pharma analyst at brokerage Systematix Group, said its full portfolio of anti-diabetes drugs to offer to diabetologist, spanning all oral and injectable options, should give Eris Lifesciences 'a strong positioning in a market where the large pharma majors like Sun, Lupin, Dr Reddy's, Cipla, Mankind and Zydus come in with their dominant brand presence.'
Hans India
17 minutes ago
- Hans India
Vedanta continues winning street confidence: Brokerages forecast strong earnings ahead
New Delhi: Major global and Indian brokerages remain optimistic on Vedanta Ltd's performance for FY26, citing stronger LME pricing trends, cost discipline, deleveraging, and a resilient aluminium business among the key growth drivers. These firms have also taken note of the several growth projects scheduled for commissioning or completion in the next few quarters. JP Morgan noted that Vedanta's first quarter consolidated EBITDA was largely in line with estimates, with key segments such as aluminium, oil and gas, and power faring better than its expectations, leading to an overall segmental EBITDA beat. On the earnings trajectory for the current and next fiscal, the firm expects various ongoing initiatives at Vedanta to aid growth. "Vedanta's capacity expansion journey in the aluminium business as well as vertical integration should bring cost advantages. LME prices have also bottomed out and should continue to move higher into FY26-27, likely aiding earnings growth." Echoing similar views on LME prices and its potential benefit, Citi Research cited that Vedanta's parent (Vedanta Resources) leverage is at comfortable levels. It listed potential upside in medium-term aluminium LME prices, lower cost, and the demerger as another positive for Vedanta, while adding that aluminium globally has a limited supply growth. Mumbai-based Nuvama Institutional Equities expects Vedanta to deliver quarter-on-quarter EBITDA growth in Q2. "Q2FY26 EBITDA is likely to increase 10 per cent-plus quarter-on-quarter on the back of higher prices and lower aluminium cost of production. Major aluminium projects are likely to be commissioned in Q2FY26. We reckon net debt/EBITDA ex-Hindustan Zinc shall fall to 1.7x by FY26-end, compared to 2.7x in FY25. Demerger of the business is likely to be concluded in Q4FY26," the firm said in its report. The brokerage expects Vedanta's all major projects except coal blocks to be likely commissioned in the current fiscal, providing volume growth and cost reduction visibility for the company. UK-based Investec stated in its post-earnings report that Vedanta is a key beneficiary of depreciation in the Indian Rupee. Other near-term positives listed by the firm include declining alumina prices and the company offering attractive yields. The firm has retained its buy recommendation on Vedanta. Research firms like Kotak Institutional Equities and IIFL have cited factors like cost efficiencies and deleveraging at both Vedanta Ltd and its parent Vedanta Resources as beneficial factors. Vedanta's adjusted profit after tax jumped 13 per cent year-on-year to Rs 5,000 crore. The company clocked its highest-ever first-quarter EBITDA of Rs 10,746 crore, which was up 5 per cent year-on-year.
NDTV
17 minutes ago
- NDTV
Trump Says US China Close To Trade Agreement, Will Meet Xi If Deal Is Struck
President Donald Trump said on Tuesday the US was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if an agreement is struck. "He asked for a meeting, and I'll end up having a meeting before the end of the year most likely, if we make a deal. If we don't make a deal, I'm not going to have a meeting," Trump told CNBC in an interview referring to China's Xi. "We're getting very close to a deal. We're getting along with China very well," Trump said. Treasury Secretary Scott Bessent said last week he believed the US had the "makings of a deal" with China after officials from the two countries met in Stockholm in a bid to resolve economic disputes aimed at extending their truce on a trade war by three months. China is facing an August 12 deadline to reach a durable tariff agreement with the US administration, after Beijing and Washington reached preliminary deals in May and June to end escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without a deal, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. Speaking to CNBC, Trump also said his administration would soon impose tariffs on US imports of pharmaceuticals, semiconductors and chips, which is expected to impact China.
