Book profits after listing gains in Tatva Chintan: Kranthi Bathini

Investors must be cautious and be selective when applying for IPOs, says Kranthi Bathini

https://www.money9.com/news/markets/book-profits-after-listing-gains-in-tatva-chintan-kranthi-bathini-62264.html

Benchmark indices extended gains in afternoon trade with the Nifty inching higher around 15,800 led by IT, metal, financials. Nifty Metal index was up sharply by 4%. Realty and IT stocks also leaped over 1% each. Hindalco, Tata Steel, JSW Steel and Tata Motors were among the top gainers in Nifty while Maruti, Power Grid and Cipla led the pack of laggards. Kranthi Bathini of Wealthmills Securities spoke to Money9 to share insights on the market momentum going forward.

“Markets have been facing stiff resistance around 15,900. Global factors, relentless selling by FIIs, also some hedge funds are booking profits and all of this together is leading selloff in the markets. Domestic institutional investors and retail investors are still actively investing. Another big reason is that money is being pulled in the primary market space”, he said.

On the new listing of Tatva Chintan IPO, the shares extended rally after stellar debut, rising as much as 130% to hit a day’s high of Rs 2,486.

Bathini believes the primary market is abuzz with retail frenzy. He believes investors should take profits after such sharp listing gains and then look at entering on dips once the stock cools off.

“Be selective in the IPO space, do not blindly invest in all IPOs”, he said.

 

IT stocks poised to move higher from current levels: Kranthi Bathini

There is a great buying opportunity at lower levels for investors

https://www.money9.com/news/markets/it-stocks-poised-to-move-higher-from-current-levels-kranthi-bathini-48518.html

omestic equity markets ended the last session of the June series futures & options (F&O) over half a percent higher.

The S&P BSE Sensex rose 393 points, or 0.75% to close at 52,699, while the broader Nifty50 index ended the session at 15,790, up 103 points, or 0.66%. Information technology (IT) stocks led the rally, the index was up 2.8% while the Nifty PSU Bank index dragged and closed 1.4% lower.

“Investors have been moving profits at higher levels but also there is buying interest when markets dip. We are witnessing a range-bound trade in markets. There is a slowdown in FII activity as well,” Kranthi Bathini, Director – Equity strategy, WealthMills Securities said.

“I believe there is a great buying opportunity at lower levels for investors even in current markets”, said Bathini.

On whether the IT sector will continue to build on the momentum, Bathini said that the IT sector is poised to move higher and the companies are going to expand in the US once things get normalised and business comes back. Rupee depreciation is aiding growth in IT stocks. “I advise investors to invest in large and mid-cap IT space,” Bathini said.

In an interview with Money9 in February, Bathini said that Quickheal Technologies has given an absolute return of 72% from Rs 163 and is currently hovering near Rs 270. He believes investors can now book partial profits on the stock.

The other stock from the IT space he is bullish on is KPIT Tech which he had shared as a stock recommendation in April at the price of Rs 193. The return on the stock so far is about 33%. Bathini believes there is more steam left and investors could continue to hold the stock.

Apart from the IT sector, Bathini also shared his top bet for long-term investors. He believes investors with a high-risk appetite can invest in Centrum Capital which can be a money-spinner in times to come. The financial services company having several finance-related subsidiaries. It is on course to become a full-fledged bank in the coming times.

“I expect an upside of 25% upside from the current levels of Rs 46”, said Bathini.

 Views on Money 9 Network 22nd July 2021

Cash is king in the current market juncture: Wealthmills Securities’ Kranthi Bathini

Investors must enter stocks with the highest margin of safety in the current markets, says Kranthi Bathini

Sensex, Nifty witnessed a robust start on Thursday. Asian stocks climbed early Thursday after solid company earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups. The Sensex was at 52,817, up 619 points or 1.19%, while the Nifty was at 15,811, up 179 points or 1.15%.

“Enter stocks with the highest margin of safety in the current markets, for traders this market can make quick bucks but for investors, one needs to invest in quality names,” Kranthi Bathini of Wealthmills Securities said.

He also believes that there are times when ‘cash is king’. Every portfolio must have 20-30% of cash reserved in current markets. This will help them to enter quality names in a staggered fashion.

He prefers IT, Pharma, and auto as sectors that will do well on the back of positive earnings.

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