Stock market recommendations: Anand Rathi’s Mehul Kothari identifies Swiggy and Bajaj Auto as top buys, citing bullish technical indicators like engulfing patterns and RSI divergences. Conversely, Vedanta is flagged for a ‘sell’ recommendation due to bearish RSI divergence and a trendline breakdown, suggesting potential downside.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Wednesday on positive global cues. While Nifty50 was above 26,000, BSE Sensex was up over 350 points.
Jefferies initiated coverage of LG Electronics India with a buy rating, citing its strong position in discretionary spending. JP Morgan maintained an overweight rating on Reliance Industries, increasing its target price due to attractive valuations and expected earnings growth.
New labour codes, effective November 21, are projected to inject Rs 75,000 crore into consumption and boost the formal workforce by 15%. Social security coverage is expected to reach 85% within three years, potentially reducing unemployment by 1.3%. This reform aims to create a protected and productive labour market for both workers and businesses.
