After 110% rally, is Avenue stock ripe for profit booking? Share buybacks likely to boost IT stocks

ET Markets Daily Brief | Tue, Mar 21, 2017 | 04:35 PM IST Follow ET Markets

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Avenue Supermarts listing helps Damani race past Anil Ambani, Rahul Bajaj on billionaire list Damani saw a stellar debut of his company Avenue Supermarts, which skyrocketed 111% over issue price, pegging the m-cap of the co at Rs 39,300 crore. After 110% rally, should you book profit on D-Mart counter? Of course, say analysts After the listing day euphoria, valuation on the counter looks stretched and many D-Street experts are advising small investors to book profit on the counter. Sectoral funds outpaced peers in last 10 years: But they're not for faint-hearted Sectoral funds focused on FMCG, pharma and banking sectors have delivered annualised returns of 19.35%, 17.68% & 17.61% (CAGR), respectively, in this period.

Interview One to One The consolidation is positive. This break can get us longer term targets of up to 12,000. It is particularly construc... Laurence Balanco , CLSA

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Market Watch 21 Mar | 04:35PM| SENSEX NIFTY USD/INR GOLD 29485.45 ↓-33.29 9121.50 ↓-5.35 65.21 ↓-0.15 28448.00 ↓-57.00

Gainers Losers 21 Mar, 2017, 04:35PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low

Tweet of the day... Rupee to surrender gains from Modi's poll win if 2014 is guide

FROM THE NEWSPAPER

Top 10 trading strategies to use over the next 10-12 sessions A sustained trade beyond 8,950 may extend the bull run to 9,225-9,575. But if Nifty50 slips below the key support level at 8,950, it can trigger corrections. BLOG: Look who moving my market all through Tuesday Going by analyst projections, the downside remains capped in this market and there is going to be a whole lot of stock-specific action through the day. Experiences of IBM, Accenture show share buybacks will help valuation of HCL Tech, TCS In a bid to boost investor returns, HCL Tech announced a Rs 3,500 crore share buyback. The move followed similar actions by TCS, MphasiS and peer Cognizant. Old isn't gold always! These 19th century firms failed to reward investors in last 5 years More than half of the 10 stocks incorporated in the 19th century have failed to offer healthy returns to investors over the past three and five years. India hunts for solution to bad-debt crisis as measures fail The mechanisms offered by RBI haven't been successful in resolving bad loans, as it does not regulate promoters and other equity stakeholders, says an expert.

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