- 4 months ago
Experts said that any progress in the India-US trade deal is likely to trigger short covering on Dalal Street and the market is also looking forward to pent-up consumer demand from Navaratri.
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00:00Good afternoon and welcome to Market Closing Show, which is our collab show between Business Today and India Today Television.
00:07It's 3 p.m. and we will get you all the market closing action of the day.
00:11First, let's take a look at what's hot in the corporate and the financial space.
00:23U.S. negotiator Brendan Lynch meets Commerce Ministry officials at Vanitya Bhavan in New Delhi.
00:30Sources say closed-door discussions with India's chief negotiator Rajesh Akarwal focus on reviving the trade talks.
00:44Markets trade higher ahead of the U.S. Federal Reserve policy outcome with India-U.S. trade talks also on the radar.
00:50Sensex stops 82,000, up 400 points. Nifty tests 25,200 on weekly expiry, while auto stocks lead the rally.
01:00Next, our stocks surge up to 6% in trade on hopes from India-U.S. trade talks revival.
01:10KPR Mill, Well-Spun Living, Indocount and Gukultas exports shine in trade.
01:15Gold prices trade near all-time high levels in domestic markets as MCX October futures hit 1.10 lakh rupees per 10 grams.
01:28December contracts at 1.11 lakh rupees per 10 grams, boosted by global queues and expectations of a U.S. Federal Reserve rate cut.
01:37Deadline relief for taxpayers as ITR filing has been extended for the day.
01:48With just nine hours left now, over 7.3 crore returns have already been filed, crossing last year's 7.28 crores.
01:56Also, a final window for those yet to file.
02:11Let's straightaway talk about the markets now.
02:14In the last half an hour of trade, we are seeing the Nifty actually hovering around 25,225-watt mark.
02:22We're near the day's high point now, 6.10% higher.
02:25The volumes are pretty strong.
02:27And remember, this is the weekly expiry that we are seeing for the Nifty and the Nifty contracts as well.
02:32Now, let's look at a broad-based move that we are looking at into the markets.
02:36Barring FMCG rest, all of the sectors are actually pulling up in trade.
02:39Look at autos, for instance.
02:41We are seeing a 1.4% of an uptick on the auto index.
02:44Realty index follows next with, again, about a percent gains here.
02:48Infrastructure and even the broader markets, the small caps and the mid-cap stocks are actually doing pretty well in trade right now.
02:55Talk about the top gainers on the Nifty.
02:57You have Kotak Mahindra Bank from the private sector banks.
02:59That's up by 2.5%.
03:01After a long call, we are seeing the stock up by, you know, sharp margin.
03:05You can see 2020-odd levels coming in on Kotak Mahindra.
03:09Now, L&T follows next with, again, a 2% up move.
03:13M&M, Maruti Suzuki and also Bajaj Auto from the auto space is up.
03:17Bharti Airtel, also another stock that's also hovering higher in trade.
03:21Let's look at the laggards, however.
03:23Tata Consumer Products is declining in trade, almost a percent lower.
03:26Bajaj Finance, Asian Paints, Nestle and even Sriram Finance and HDFC Live are some of the other stocks that are declining in trade.
03:34But PSU stocks, they continue to shine bright from the last couple of sessions.
03:37They've been all up and about, including defence, railways, power stocks.
03:42All of them are in thick action.
03:43Look at the PSU index.
03:45BEL is up over a percent.
03:46BHEL is also up by over a percent as well.
03:49BPCL.
03:50You also have Coal India, Concore and Gale as among those stocks that are higher in trade as well.
03:56Let's also look at some of the gainers and losers as far as the Nifty 500 basket is concerned.
04:00You do see stocks like Reddington, for instance.
04:03That's about 20% block deal of about 1% equity as exchanged hands in multiple blocks is what we have seen.
04:11And Reddington is the top mover on the Nifty 500 basket.
04:15Look at stocks like even Allied Digital Services, for instance, Zodiac Clothing.
04:20A lot of those textile-related stocks, Ruby Mills, KPR Mills, Google Das, all of them are in thick action right now.
04:27Let's actually welcome our guest on board.
04:28Sani Agarwal, who is the DBP and Head of Fundamental Desk at the SPI Securities, is now joining in on the program.
04:34Warm welcome to you, Sani.
04:35Good to have you with us.
04:36First up, tell us, after this substantial move that we've seen today of 25,250 being crossed on an intraday basis,
04:43how do you see the market move from here?
04:45What is it really drawing from as fresh sentiments as well?
04:48Yeah, good afternoon, Sakshi, and thanks for having me on the show.
04:54I think, again, markets are looking to cross the key major resistance if I talk about technical level.
05:01So, we feel that 25,250 is the key resistance.
05:06In case the market is able to take off that level, then we can see maybe closer to 25,600 or 25,800 levels.
05:15That's speaking technically.
05:16Moving on to fundamental parameter, I think the positive development on India-US trade deal is something which can aid the market to move upwards.
05:28And because that's the only thing, overhang, which we see in the market, if you look from a domestic macro perspective,
05:34I think they are in a very good shape, whether it is a support from the government in terms of tax benefits, GST rationalization,
05:42or rate cut by an RBI, and not to forget the recent upgrade by SNP after the span of 17, 18 years.
05:48So, I think domestic macro is on very strong footing.
05:50The overhang of US, in case there is some abatement in terms of negative news flow on India-US trade deal,
05:59we feel that markets are likely to do well as we look forward to the festive season of Navaratri and Diwali.
06:05Absolutely. You rightly pointed out that there are hopes that are coming in yet again,
06:12that as far as the India-US trade talks are concerned, they could soon resume.
06:16We have already got the chief negotiator of the US right here in India today for a single day
06:22to maybe close some gaps as regards to the trade talks are concerned and how they were stalled for some time, for now at least.
06:29And that's why we're also looking at a lot of stocks that are in the bus.
06:32Look at the textile stocks, for instance.
06:35You know, you name Indocount Industries, KPR Mills, Raymond, Gokaldas Exports, all of them are in thick action today.
06:41So, let's find out whether this is the space that you can once again look at.
06:45Sunny, what's your approach on the textile space?
06:48Yeah, definitely. I think textile has been a beaten down sector,
06:52especially in the wake of their exposure to the US market and the ongoing negotiation.
06:58In case India is able to strike and deal with the US,
07:02I think the textile company can take advantage of an upcoming festive season in the United States of America,
07:08which usually span between November and December.
07:11Still, I mean, textile company has gotten some room to catch up on any loss of business
07:16because of this ongoing trade lock between India and US.
07:22So, if I have to pick one or two stocks among the textile name,
07:25I think Gokaldas Exports and Belspun Living,
07:28these are the two names which we feel can offer a better risk-reward ratio at a current juncture.
07:34With a caveat that India-US trade deal is something which will go through
07:38ahead of the festive season in the United States of America.
07:41Having said that, there are many other businesses.
07:43Absolutely, Sasani. We'll come back to that.
07:47This is a deeper topic and we will try to understand a lot of things even beyond the textile space here.
07:53But there's breaking news coming on your screens, viewers.
07:55Apollo Tires, New Jersey sponsor of the Indian cricket team now.
07:59Apollo's deal will now run until 2027.
08:02Remember, Apollo will be paying 4.5 rupees per game to the BCCI as well.
08:08Remember, this is big news that's actually coming in with regards to the tyre company.
08:13Apollo Tires is the New Jersey sponsor of the Indian cricket team now.
08:18And of course, this is a deal that will take place up until 2027.
08:23Two more years to go for this deal to continue.
08:26And for this, Apollo Tires will be paying 4.5 rupees per game to BCCI as well going forward from here.
08:34So, this is big news that's actually coming in.
08:36Remember, we've also been seeing in the past all the sponsors that were with regards to the online gaming sponsors
08:43that we used to have for the Indian cricket team have actually seen their deals stall
08:49right after the online gaming bill was passed, you know, last month.
08:54And last two months, we've been seeing a lot of, you know, changes in this entire space
08:59because of the reforms coming in.
09:01A lot of companies are completely changing the way and restructuring the way they have been functioning at large.
09:07But finally, we have a new name coming in for the Indian cricket team and that's Apollo Tires right there.
09:14They can see the stock also jump by about 1.6% in trade.
09:18And Apollo Tires is actually replacing Dream 11 there, you know,
09:22with respect to being the team's sponsor on the jersey as well.
09:26Remember, Dream 11 had, you know, pulled out of its deal right after the online gaming bill was passed
09:34which had put a complete ban on all real money gaming as far as was seen.
09:41And Dream 11 was a major, major player on that front.
09:44And we were hoping to see a new name come in.
09:46And there you have it, Apollo Tires is now going to be the key New Jersey sponsor for Team India
09:53and the cricket team right there.
09:55Apollo Tires for you from the Tire space.
09:57Big deal coming in, Apollo Tires.
09:59Any specific chart momentum or fundamental coverage that you can share with us, Sunny?
10:05Yeah, I mean, first of all, I mean, happy to see that Apollo Tires will become a key sponsor
10:14as far as the Indian cricket team is concerned.
10:18Obviously, that can have some bump up in terms of, that can lead to some bump up
10:23in terms of some spend on advertisement by Apollo Tires.
10:26We need to hear from management the exact strategy on how that is going to be spent
10:31and what is an ROI which management is expecting from that.
10:35Coming to fundamentals, again, Apollo Tire right now is leading close to 25 times
10:41price to earning multiple.
10:43Not a favorite stock at a current juncture.
10:46So, among the Tire pack, you have to choose non-stop.
10:48That will be CIT limited.
10:50Okay, fair point.
10:51But the stock is definitely reacting on the positive side at this point in time.
10:541.5% up, 1.7%.
10:57Now, it's actually seen some uptick after that news flow.
11:00But let's go back to trying and understanding the big news point
11:03as far as the India-U.S. trade talks are concerned
11:06as they seem to be back in focus with Washington's chief negotiator
11:09Brendan Lynch in New Delhi for crucial round of discussions there.
11:13This actually comes after the U.S. has imposed steep 50% import tariffs on Indian goods,
11:19a move that India has called unfair and unjustified.
11:22But my colleague, Karishma Sudhani, is now joining in to share with us more on this.
11:27Karishma, help us understand what's on the agenda of these talks.
11:30What are you picking up?
11:33Actually, the agenda is pretty clear.
11:35It's that it's the fair optimism of the fact that we are back on the talking,
11:39on the deal table, on the talking terms.
11:42And this meeting today is going to set a precursor for what's about to come.
11:47It was in the month of July that fifth round of negotiations between the U.S. and India
11:51had to end and the resumption could not take for a while.
11:56And that's because of various other reasons, which are well known to all of us.
12:00Plus, on that came punitive tariffs to us, which have just been a pain for us
12:07when it comes to our export numbers, which also seems some kind of steep spot.
12:10Now, today's meeting will set a precursor to what's about to come.
12:14But optimism hailing from both the ends, especially on the fact that even
12:18White House trade advisor has mentioned that India and U.S. are back on the talking table.
12:24Absolutely. But, Karishma, help us understand.
12:26You know, India has completely refused to budge on the agri and the dairy aspect,
12:31saying that this is a red line for us.
12:33We have to protect our farmers community.
12:35And this is something that is a non-negotiable at this point in time.
12:39What changes, you know, when the meeting happens today?
12:42The circumstances actually still remain the same.
12:46Well, Sakshi, you know, ironically, the key sticking point for us,
12:49though has been agriculture and dairy, it's now being shifted to a different spectrum.
12:53If you see what we have been discussing now is on our dependence on Russia,
12:59which has bothered the U.S. more.
13:00So, we'll not be surprised if rather the pinching point could be on that rather than agri or dairy that now U.S. is looking forward to.
13:09But I'd say everything would be unjustified until we hear officially from what the ministry has to say,
13:16which will probably be in a day.
13:18Absolutely.
13:19We'll keep an eye on that, Karishma.
13:21Maybe by tonight we get to know some of the other details as to what has been the outcome of today's meeting as well.
13:26And that will be an important one that the markets will be tracking even for tomorrow's trading session as well.
13:31Remember, viewers, exporters' bodies say that the pressure has definitely been rising with Ajay Sahai of FIO
13:38pointing out that retaining global market share is actually becoming increasingly costly
13:42as India faces a 30 to 35 percent duty cap compared to the competitors as well.
13:47And the bigger concern he has added is not just the headline tariff,
13:51but the additional secondary tariffs weighing on the industry.
13:54Let's listen in to what the CEO of FIO had to say.
13:58I'm pretty sure that this will bring both the sides on negotiation very shortly.
14:04We have the deadline of concluding this by fall of 2025.
14:08We still have a few months to go.
14:11And I'm pretty sure that looking into the development now
14:14and both sides knowing where the things stand,
14:18what is something which is negotiable or not negotiable,
14:21it will be easy to move forward from here.
14:24You have been also having talks with your FIO body member
14:26and they were perhaps very curious and having high hopes.
14:29What are their expectations?
14:31No, in fact, everybody is expecting that with the talks we should be able to resolve the matter
14:36because otherwise the cost which has to be provided to exporter to retain the market
14:42is quite humongous and that may not be possible.
14:46We are looking into a duty differential with our competitor around 30 to 35 percent.
14:51But I'm pretty sure that BTA can provide an answer.
14:55They can be conducive involvement which may lead to some of the issues relating to the secondary tariff fall.
15:02So, it is not just that the 25 percent tariff is a problem.
15:07I think the bigger problem for the industry is the 25 percent secondary tariff also.
15:12Right.
15:13Coming back to Sunny.
15:14Sunny, now help us understand.
15:16You know, of course, the hopes are up as far as some of easing out of that 50 percent tariff is concerned.
15:23Maybe some of the gaps are closed today.
15:26That could further the talks going forward from here between India and U.S. to the progressive side.
15:30How are you looking at the impact that that could have on the markets thus far?
15:35Remember, over the last couple of weeks, Indian markets are only dependent on the domestic news flows,
15:42specifically on the GST reforms, to really rely on and move up higher in trade.
15:48But there has been a constant resistance above 25,000 that we've been facing on the markets.
15:53Do you think if there is some potential positive outlook as far as the trade tariffs are concerned,
16:00the markets could actually move once again towards the erstwhile highs?
16:05What's your thought?
16:07Yeah, definitely, Sakshi.
16:09I think any progress towards India-U.S. trade deal will definitely lead to a short covering in the market.
16:16So, we have already seen that the long-shot ratio for FII is very aggressive.
16:23So, close to 10 to 11 percent on the long positioning we are seeing from foreign institutional investors.
16:30So, at least any progress on India-U.S. trade deal will lead to a short covering.
16:36And that can propel Nifty by another 600 to 800 points.
16:42That's our view.
16:44And having said that, again, beginning next Monday,
16:48market is looking forward to the pent-up demand from Navaratri.
16:53And that can also give a leg up to the market and confidence that the Indian corporates
16:58can report a kind of double-digit earning growth beginning December quarter.
17:03Absolutely.
17:04Let's actually shift focus and look at what's happening as far as the pharma space is concerned.
17:10Now, all of you viewers must have already noticed that India is seeing a surge in obesity-related health concerns.
17:16And we've also seen Novo Nordisk and L.I. Lilly already being pretty active in this space as well.
17:21In an exclusive, first-ever TV interview to India,
17:25Praveen Akinapeli, who's the country president and the managing director of AstraZeneca Pharma India,
17:30has spoken to our colleague Neetu Chandra Sharma about AstraZeneca's plans to roll out
17:36and to also participate in the weight-loss drugs race as well in India.
17:42Let's listen in to what he had to say.
17:43Obesity, it's a major focus in Indian pharma with Novo Nordisk and L.I. Lilly.
17:50They've already launched their drugs in India.
17:53Is AstraZeneca also planning to enter this segment?
17:56And what is the timeline for an India rollout?
17:58Certainly, I think when you think about the unmet need, clearly in the context of obesity,
18:04you see this has become a global sort of pandemic.
18:07There is a lot of patients across the world and certainly in India that need new treatment regimens.
18:14And it's great to see that the new science is translating into new options.
18:19AstraZeneca, of course, has a long history of investment and bringing scientific innovations
18:24in the context of cardiorenal and cardiometabolic diseases.
18:29So that continues to be an area of focus for us.
18:32And we are working hard to bring the next generation of therapies in that context.
18:37For example, we have some oral GLP-1s that are part of our portfolio.
18:42But the other thing that we are looking at is that really appreciating the complexity of the disease.
18:47So it is not any one disease.
18:49There is a lot of, you know, sort of interconnected factors that play out when we think about cardiorenal
18:54and cardiometabolic diseases.
18:56So hypertension and some of these comorbid conditions are also very much relevant.
19:00So we are not only looking at, you know, for example, something like the oral GLP-1s,
19:04but we are also looking at combinations that really address the complexity of the disease.
19:09So we are very excited to bring those next generation of medicines.
19:13I think the timeline, of course, depends on how the clinical data will pan out.
19:17But this is certainly an area of focus for us at AstraZeneca as well.
19:22All right.
19:23So that's the big exclusive that we've got from AstraZeneca Pharma on TV.
19:27The first ever TV interview given to Neetu Chandra Sharma,
19:30who tracks health for business today, right here,
19:34talking about how, you know, the company is clearly focused on the obesity space
19:38and is looking at rolling out oral drugs as far as GLP-1 is concerned.
19:42Coming back to Sani, Sani, what's your thought as far as AstraZeneca Pharma is concerned?
19:46And also if you could help us understand your own sense of how Indian pharma companies
19:51are now thinking of doubling down on this newfound opportunity
19:55that global pharma giants have already come to India with by launching the anti-obesity drugs.
20:03Yeah, definitely.
20:04I think it's a big opportunity for domestic pharma majors.
20:07And most of the companies are already working on that.
20:11As AstraZeneca, you rightly pointed out, they are working on that.
20:15And in addition to that, a few more names which comes to my mind is Shelly Engineering and Plastic,
20:21which is already making a plastic pen through which the drug will be delivered.
20:26So, whether it is a semi-glutide or a GLP-1.
20:30So, I think Shelly is already working for a Canadian market and I hope that any expansion in market
20:36as far as India is concerned that will benefit Shelly Engineering.
20:40Coming to overall pharma industry, I think CDMO is a space to be in a very solid set of growth.
20:45We are witnessing across CDMO or CRO.
20:49So, if I have to name a few companies over there, SciLife Sciences or the recently listed Anthem Bio Science,
20:56these are the few names which come to my mind when it comes to CDMO space.
21:00Okay, fair point.
21:01So, that's the entire pharma story that we are going to be tracking as well.
21:05Remember, we are also going to be seeing a whole host of momentum across the board.
21:09But, you know, we are also looking at the food delivery space as that's gaining some momentum
21:15right ahead of the upcoming festive season.
21:17We are looking at how Eternal, Swiggy, the quick commerce giants, you know,
21:23Nika for that matter, Hunasa Consumer, the parent company of Mama Earth,
21:28how are they really looking at the upcoming opportunity?
21:31Look at how both Zomato and Swiggy are higher in trade.
21:34They're at the day's high point.
21:35Both Zomato, the parent company, you know, Eternal as well as Swiggy.
21:39Up by 3.5%.
21:40Nika is also up by over a percent.
21:42So, the internet-based companies, the tech-focused companies are back into action today.
21:46In fact, interestingly, Sunny, I'm going to be helping all our viewers and stand through you,
21:51how Eternal has actually now beaten even two Tata Group companies in the terms of market cap as well.
21:57Both Titan and Tata Motors in the market cap race to now join the nifty top 25 companies as well.
22:04In fact, with this, we have actually seen the market cap of Eternal now come in at 3.13 lakh crore rupees as well.
22:12And the stock has been consistently in focus, driven by strong momentum in the revenue growth,
22:18profitability focus as well as the expansion of its quick commerce business that's Blinkit.
22:23How are you looking at these entire space stocks as far as Zomato is also concerned?
22:29What's your call here?
22:31Yeah, I think no doubt that Zomato is trading at an expensive valuation when you look at other well-established players like,
22:39sorry, Titan or for that matter, Hindustan New Deliver.
22:43But ultimately, the point is that the way we are seeing a ramp-up in the number of new customers which Zomato is adding
22:51and the expansion of total addressable market with quick commerce in their hold,
22:56I think J-curve is something which is very close by.
22:59And the way we have seen a ramp-up in a platform fee from 1 rupee or 2 rupee
23:04just a year back to a close to now 14-15 rupee.
23:07I think that number will straight away flow to the bottom line.
23:10So I think the potential to deliver exponential growth in terms of profit is significant,
23:16whether it is for Swiggy or Zomato.
23:18If I have to choose one stock among this food delivery space,
23:21I think Swiggy is relatively well-placed because of the valuation at which it is trading as compared to the Zomato.
23:27And we believe that both the segment food delivery and quick commerce should perform well during the festive season.
23:34Backed by a very robust increase in the platform fee which we have seen during the last 15-30 days.
23:41Absolutely. Now, Sunny, help us understand when we talk about festive season,
23:45a lot of our viewers would also be looking to also shop for bullion,
23:50the yellow metal and the white metal as well, gold and silver for that matter.
23:54Both of them are trading at near all-time high levels.
23:57We've also seen how in the international markets for the first time,
24:01$3,700 per ounce kind of a gold level has been crossed as well.
24:05So the momentum is not just domestic, it's also globally driven as well.
24:09As far as the prices for both gold and silver are concerned,
24:11we're also looking at one more trigger and that will come in tomorrow night
24:15when the U.S. Federal Reserve, the Central Bank of the United States of America,
24:19decides on the rates front as well, the policy rates decision.
24:23There are markets have already penciled in 25 basis points of a rate cut.
24:27That's further probably going to be appealing, you know,
24:31or increasing the appeal for the gold as far as silver metals as well.
24:35I want to understand from you, when we look at a retail investor looks at gold and silver as an opportunity,
24:42we do see the optical high levels as something which is out of reach.
24:45But if somebody wants to participate in this run-up through the listed stock market space,
24:51how are you looking at playing that one?
24:53Are gold financiers a better bet?
24:55Because we are also looking at increased gold loans at this point in time
24:58as the prices soar to all-time high levels.
25:01Or would you play it through the jewelry makers?
25:03What would you do this festive season?
25:06Yeah, definitely, Sakshi, as you rightly pointed out,
25:09gold finance business is the key beneficiary as we see an increase in gold prices.
25:15But one has to keep in mind that we have already seen a rally which has played out
25:19in both the key market leaders, Mannapuram and Mutut Finan.
25:24So a slight caution is advisable over there.
25:27I think another way to ride this sector is through B2B or B2C player.
25:32So we have seen many B2B player recently got listed as far as jewelry sector is concerned.
25:39So two names which we like is one is Shanti Gold and one is Sky Gold,
25:42which is one of the oldest players to get listed on as far as B2B platform is concerned.
25:48And moving on to the branded jewelry space,
25:50I think Senko Gold is the one name which we feel can be added at a current juncture
25:54from medium to long-term perspective.
25:56Fair point.
25:57Well, the markets have shut shop, so let's quickly shift focus to help you understand
26:01how the markets have closed in today's trade.
26:0225,255 near the high point of the day viewers.
26:06We are up by 7 tenths percent, led by strong volumes in the markets as well.
26:11The weekly expiry has been on a very strong footing.
26:15The Nifty Bank also nearly a half odd percent uptake,
26:18260 point of a jump for the Nifty Bank as well.
26:20We've now managed to climb above that 55,147 odd mark
26:24that we had crossed intraday yesterday but failed to cover it towards the closing end of the session.
26:29But today we've managed to close above that level on the Nifty Bank.
26:32What has really led to the momentum?
26:34Auto sector, 1.4 percent higher, the top moving sector in terms of the gains that we have seen.
26:39Which are the top movers on the trade today?
26:41Kotak Mahindra Bank, Larson and Tubro, M&M from the auto space,
26:45all upwards of 2,2.5 odd percent in trade.
26:47Maruti, Aisha Motors from the auto pack also driving in the fast lane.
26:51Bharti Airtel ringing in loud as far as the markets are concerned.
26:54You're also seeing some steel stocks and even the cement stocks that were also buzzing in trade.
27:00But on the flip side, look at Tata Consumer Products.
27:02Down by almost a percent.
27:04Sridam Finance, Asian Pains also dragged a little bit.
27:07We also did see less participation from a Nestle, Bajaj Finance and HDFC Life.
27:12Largely the NBFC space that stayed on the back foot
27:14and some FMCG stocks that continue to be in the downward momentum.
27:18But largely, it was a broad-based positive session that we have seen in the markets today.
27:23Let me also highlight some Nifty 500 names for you.
27:25For those that have shot up in sharp double digits in trade today.
27:29Reddington with a 20% circuit.
27:31We've also seen names like Allied Digital Services, 15% higher.
27:34Mirza International, 15% up in trade.
27:37Remember, this is the leather space that we are looking at.
27:39Zodiac clothing from the textile space that's buzzing.
27:42Ruby Mills also from the same space as well.
27:44A lot of other stocks also that continue to be in sharp momentum.
27:50Coming back to Sunny.
27:51Sunny, your thoughts on what should be done in the markets for the rest of the week.
27:56Does everything depend on what outcome comes in from the India-US trade talk today?
28:00Yes, Akshay, I think SREED will be keenly watching a development on India-US trade talk
28:07and what the way forward.
28:09And maybe ahead of Diwali, SREED is hopeful that some midway solution is there in place
28:16between India and US.
28:17If that is the case, I think SREED will look forward to that development.
28:23And in addition to that, I think the SREED is keenly awaiting for 22nd of November
28:27where we will see a festive season kicking off and the demand trend during the festive season.
28:34Absolutely. Thanks a lot, Sunny, then, for being with us and for sharing all those insights.
28:38Viewers, the markets have shut shop, but we do have an exclusive chat with Union Minister
28:43Hardeep Singh Puri, who has told India today and has clarified that ethanol blending
28:48has no adverse impact on vehicles.
28:51He did point out that India has achieved its 20% ethanol blending target years ahead of the schedule,
28:56saving the country nearly 1.4 lakh crore rupees in fuel imports and reducing the pollution levels as well.
29:03The minister has also stressed that there is no controversy around the program
29:07and that similar efforts have been successful in countries like Brazil.
29:11He also added that the initiative is turning India's farmers into energy providers for the nation.
29:16Let's listen in to that exclusive chat with Mariya.
29:18To help, let's listen to this opportunity, this opportunity is not true.
29:22No part of this has been affected by the government.
29:24The government has given it that in November 2022
29:27will be 10% ethanol blending.
29:29ethanol blending рдХрд░ рд▓реЗрдВрдЧреЗ рдпрд╣ рдЬреЛ рд╣рдорд╛рд░рд╛ рдЕрдмреНрдЬреЗрдХреНрдЯрд┐рд╡ рдерд╛ рдпрд╣ рдкрд╛рдВрдЪ рдорд╣реАрдиреЗ рдкрд╣рд▓реЗ рд╣реА рд╣реЛ рдЧрдпрд╛ рдерд╛ рджреВрд╕рд░рд╛ рд╣рдордиреЗ рдЕрдмреНрдЬреЗрдХреНрдЯрд┐рд╡ рдХрд╣рд╛ рд╣реИ рдмреАрд╕ рдкреНрд░рддрд┐рд╢рдд
29:39ethanol blending рд╡рд╣ 2030 рддрдХ рд╣реЛрдЧреА рд╡рд╣ рднреА рд╣рдордиреЗ рдкрд╛рдВрдЪ-рдЫреЗ рд╕рд╛рд▓ рдкрд╣рд▓реЗ рдХрд░ рд▓рд┐рдпрд╛ рдФрд░ рдмреАрд╕ рдкрд░рд╕рдВрдЯ
29:46рдЕрдмреНрд▓реЗрдВрдЧ рдореЗрдВ рдХрдВрдкрдирд┐рдпреЛрдВ рдиреЗ рдмрдпрд╛рди рджрд┐рдпрд╛ рд╣реИ CIM Society of Indian Automobile Manufacturers рдиреЗ рдмрдпрд╛рди рджрд┐рдпрд╛ рдмреНрд░рдЬреАрд▓ рдореЗрдВ рднреА рд╣реБрдЖ рд╣реИ рдЙрд╕рдореЗрдВ рдХреЛрдИ рд╡рд┐рд╡рд╛рдж рдирд╣реАрдВ рд╣реИ рдкреНрд░реЛрдмрд▓рдо рдХрд╛ рд╢реБрд░реВ рд╣реБрдП рд╣реИ рдХрд╣реАрдВ рдХреБрдЫ рд╕реНрдЯреЗрдЯрдореЗрдВ рдЖрдЧреА рдХрд┐ рд╣рдо рдЗрд╕рд╕реЗ рдЖрдЧреЗ рдЬрд╛рдиреЗ рд╡рд╛рд▓реЗ рд╣реИрдВ рдЙрд╕рд╕реЗ рдЬрд╛рдиреЗ рд╡рд╛рд▓реЗ рдкреЗ рдЬреЛ рд╣реЛрдЧрд╛ рдЕрднреА рдЗрд╕рдореЗрдВ рдХреЛрдИ я┐╜
30:16рдЕрднрд░ рдореЗрдВ рдПрдкрдХрд╛рдп рдЕрдердорд┐рдзрд╛ рд╡рд╛рдбрд╝рд┐рдШреАрдВрдЧ рднрдВрдЧрд░ рдХрд╛рдИ рдерд╛рд░рд╛ рдореИрдВ рдмрд╣реБрдВрдЧ рд╕реНрдЯреЗрдЯреНрдЯреНрдп рдЗрд╕рдореЗрдВ рдЦрд┐рд▓рд╛рдореНрд░реАрдЧ рд╣реИ рдерд╛рд░рд╛
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