Ambit Capital has expressed bullish view about Indian stock market with 23000 as target for BSE Sensex in coming 12 months. Saurabh Mukherjea, Head Equities, Ambit Capital said during an interview to CNBC TV18 that he expects markets to move higher. The current results are an indication of bottoming out of the earnings for Indian majors. He expects Indian markets to outperform other emerging markets.
Indian stock market was trading higher on Monday. BSE Sensex was up by 92 points at 18774 and NSE Nifty was trading higher by 22 points at 12.02 PM IST.
Among majors gainers were TCS, ICICI Bank, Mahindra & Mahindra and NTPC. Bank of Baroda, Ambuja Cements, ITC and Jindal Steel were among major losers in today’s trading session.
TCS management has expressed satisfaction over the current market condition. The outlook for the upcoming quarters is positive and the stock has been performing well on the bourses.
If the government pushes forward with reforms agenda, the investment climate in India can improve. The country faced rating downgrade from major rating agencies including S&P. If the UPA government is successful in reducing the current account deficit, the markets may look up in medium term.
Good news for car enthusiasts in India is coming straight from the horse’s mouth. The Indian car manufacturing prodigy, Mahindra and Mahindra has rolled out its first international edition of Sport Utility Vehicle (SUV).
The latest launch, dubbed XUV500, was launched at a sparkling ceremony in Pune, which is reportedly home to the company’s latest sensation.
As per company officials, two editions (W8 and W6) of the SUV will be offered in both four-wheel and two-wheel drive.
According to latest information, the Mahindra W8 has been pegged around Rs 11.95 lakh, ex-showroom price in Delhi. On the other hand, the Mahindra W6 will cost Rs 10.8 lakh, ex-showroom price in Delhi.
However, the said prices are applicable only for the two-wheel drive version of Mahindra W8/W6.
The XUV500 is accessible in both four-wheel (4×4) and two-wheel (4×2) drive edition, with an ultra-advance gearbox and 6-speed manual.
The powerful wagon is fueled by 2.2-litre, “Common-Rail Diesel Engine” (CDE) and the chunk is similar to the one available on Mahindra’s benchmark ‘Scorpio mHawk’.
In addition, the company claims efficient fuel efficiency, certified by ARAI, of 15.1 km/l, which will certainly mark the second best fuel-efficient product developed under Mahindra’s glittering passenger SUV inventory, just next to ‘Mahindra Bolero’.