This is a very good stock in terms of investment, but in the near term, we do not see great moves here. We see sideways consolidation in the range of approximately Rs 320 on the upside and around Rs 260 on the downside.
Textiles To Trade Positive
Textiles is something where one can expect are positive on. The set of results have all been good. It is not a very widely tracked space; frankly, it is not a tracked space at all. There are a few things going for the space. Clearly, the fact that Chinese workers have seen a bump up in their wages. Last year probably they did not get a wage increase, and hence, this year they got a more than 20% kind of an increase, which has made Indian cloth weavers, garmenters significantly more competitive than earlier.
Textiles is something where one can expect are positive on. The set of results have all been good. It is not a very widely tracked space; frankly, it is not a tracked space at all. There are a few things going for the space. Clearly, the fact that Chinese workers have seen a bump up in their wages. Last year probably they did not get a wage increase, and hence, this year they got a more than 20% kind of an increase, which has made Indian cloth weavers, garmenters significantly more competitive than earlier.
Good To Avoid Telecom Sectors
There are numbers of news and activities that drive up and down interest in this sector. The whole space has seen a significant amount of re-rating from where it used to be sometime back, and as of now at current levels, I really do not believe that there is valuation comfort. The sector is at the upper end of the trading band and hence probably advisable to stay away from this space.
There are numbers of news and activities that drive up and down interest in this sector. The whole space has seen a significant amount of re-rating from where it used to be sometime back, and as of now at current levels, I really do not believe that there is valuation comfort. The sector is at the upper end of the trading band and hence probably advisable to stay away from this space.
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