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    Tweet Buster: Nilesh Shah’s ‘Gold Coin’, is RIL overhyped & tips to pick right stocks

    Synopsis

    Consensus market view is the rally seen in domestic stocks last week is not sustainable.

    Tweet Buster: A way to beat poll volatility & time to invest in gold?Getty Images
    The downturn in the economy is likely to stay here for a while, Sabharwal said, underlining the fact that consumption remains very weak.
    NEW DELHI: The domestic equity market ended the truncated week gone by on a strong note in complete defiance of the negative cues in the form of a spike in Covid-19 patient counts, US-China tensions and a grim outlook for the domestic economy.

    The consensus market view is that the rally seen in domestic stocks last week is not sustainable. Some of the Dalal Street mavens expressed the same view on Twitter over the week.

    Independent market expert Sandip Sabharwal said the stock market is rallying in the hope that companies will do well, the recovery will be strong and earnings will come back rapidly. “If that were the case, why are all industrialists, fund managers, economists asking for a ‘real’ fiscal stimulus,” he asked.

    The downturn in the economy is likely to stay here for a while, Sabharwal said, underlining the fact that consumption remains very weak.

    iThought co-founder Shyam Sekhar said most market perspectives currently are born out of desire and investors seem far away from reality.

    Sekhar also shared a few tips on how to use this environment to discover the rights bets for investing.

    Stock-specific action
    Sabharwal questioned the crazy valuations given to RIL post back-to-back investments for Jio. He said Reliance Jio Mart is just a copy of Bigbazaar, Bigbasket or Grofers and a poor, poor cousin of Amazon, Flipkart, etc.

    During the week, ITC acquired spice-maker Sunrise Foods. Abhimanyu Sofat of IIFL sees it as an important step towards raising revenue contribution from the FMCG business.

    Off-beat
    Kotak AMC's MD Nilesh Shah has coined the idea of ‘Gold Coin’. What’s this concept and how will it work? Take a look:




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    (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 .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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