InvestorQ : Hi Dikshi, I am looking for your views on Midhani, Power Grid, EID Parry and Adani Ports? Do you see the Bengal election outcome really impacting markets?
Rashi Mehra made post

Hi Dikshi, I am looking for your views on Midhani, Power Grid, EID Parry and Adani Ports? Do you see the Bengal election outcome really impacting markets?

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diksha shah answered.
4 months ago
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Let me put it this way, there could be a slight negative reaction to the loss of the NDA in Bengal and that risk is visible in the SGX Nifty in early trades on Monday. I am not sure if it would really make any difference to the reforms agenda as right now the real priority is not so much about reforms but about handling COVID. Of course, it is possible that the government may change its economic strategy, but that would be marginal at best.

There was a lot of FPI selling on Friday anticipating that key states could go against the ruling NDA. For example, FPIs sold Rs.3,465 crore in equities, taking the total selling in the month of April to 12,039 crore. Regarding your query on the four stocks, I suggest you hold on for now due to the prevailing uncertainty. Here is the encapsulated view.

· EID Parry at Rs.342 (CMP-346) – Suggest to hold

· Power Grid at Rs.227 (CMP-221) – Suggest to hold

· MIDHANI at Rs.191 (CMP-184) – Suggest to hold

· Adani Ports at Rs.745 (CMP-727) – Suggest to hold

Again, I am not offering any fresh buy calls on Monday 03 May and we can wait out to see the response of the market to the state elections. However, VIX above 23 means we could be in for a volatile week ahead.

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