Mumbai: The selloff in the stock market in the past six days has resulted in various shares dropping 10-30%. But, there are over a dozen stocks from NSE 500 universe that have remained resilient in this period. These include BSE, Angel One, Creditaccess Grameen, Prestige Estate, Medplus Health Services, Rainbow Children’s Medicare, Sonata Software, among others.
Analysts said many stocks that have withstood the recent correction have undergone re-rating of late. For instance, BSE’s estimated earnings per share (EPS) experienced an upward revision of nearly 50% over the past three months. During this period, the stock witnessed a 22% surge in value. Likewise, Angel One, Creditaccess Grameen, and Prestige Estates have also witnessed EPS upgrades ranging from 4% to 10% within the same three-month timeframe.
“Long-term investors do not need to do much and the only thing they can do is to add on in dip and stay with quality,” said Mukesh Kochar, head of wealth at AUM Capital.
“The market may look reasonable in terms of the valuation if it corrects 300-400 points more from here and geo-political risk stabilises although no one can predict the top or bottom in the short term.”
(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
Denial of responsibility! Secular Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – seculartimes.com. The content will be deleted within 24 hours.
