Fortnightly Observations 03rd Dec 2023

Tata Tech, KPIT Tech, Netweb Tech


RTI For Money, Lillaney

12/3/20231 min read

135 stocks hit a new 52 week high and 2 stocks hit a new 52 week low on Friday.

214 stocks closed near their 52 week high and 37 stocks closed near their 52 week low.

From the above it seems that the market is in a bullish mood and ignoring the worries related to war, increasing US debt, etc. This could also be because the markets believe that the Fed hike cycle is near its end and the Fed is likely to start lowering rates from Mar 2024 which is just 3 months away.

The 52 week low list had 2 companies which I see as follows:

Blue Jet Healthcare: P/E of around 35 and ROE is around 20 but the growth is flat. I would ignore it for the time being.

Aether Industries: P/E of around 75 which is high. I will avoid it.

Tata Technologies listed this week at a high of 1400 and the offer price was 500. Stock has settled at 1220 odd now. I think KPIT Tech is a better bet and once can also consider Netweb Tech on declines which is a play on the AI theme.

Markets as a whole seem to have run up quite a bit and the market cap / GDP is around 120 which makes me cautious.

Also, there are election results from 5 states today which could cause some volatility in the markets next week.

Please consult your financial advisor before investing. The above are just my views.

What are your fortnightly observations?

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