The brokerage is also positive on the counter as being a downstream player, it is relatively insulated from adverse price movements.

AnandRathi is positive on the stock and see a further re-rating, driven by a better sustainable performance.

Jindal Stainless key Products/Revenue Segments include Steel, Sale of services, Export Incentives, Job Work and Other Operating Revenue for the year ending 31-Mar-2022.

Jindal Steel & Power key Products/Revenue Segments include Iron & Steel Items, Power, Other Sales, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2021.

Shyam Metalics and Energy, incorporated in the year 2002, is a Small Cap company (having a market cap of Rs 7473.86 Crore) operating in Metals - Ferrous sector.

Besides, a high net debt/EBITDA of 2.3x (FY24E) relative to peers is also a concern.

Jubilant Foodworks, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 35222.54 Crore) operating in Tourism & Hospitality sector.

ICICI Securities has raised volume estimates for FY23E/FY24E by 3.9/1.4%, respectively, to factor stronger actuals and higher guidance in H1FY23.

Vedanta, incorporated in the year 1965, is a Large Cap company (having a market cap of Rs 112278.00 Crore) operating in Diversified sector.

Accelerated growth, steady margins and lower credit cost are expected to drive RoA further. Thus the stock, long due for re-rating, should see strong positive momentum.

Bank of Baroda has reported a continued improvementin business growth as well as asset quality, which is expected to aid return ratios and, thus, valuations.

Pidilite Industries, incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 129705.18 Crore) operating in Diversified sector.

ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 64715.51 Crore) operating in Financial Services sector.

Stylam Industries, incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 1872.00 Crore) operating in Building Materials sector.

Balrampur Chini Mills, incorporated in the year 1975, is a Mid Cap company (having a market cap of Rs 8078.96 Crore) operating in Sugar sector.

The company’s unique selling proposition is provision of an exclusive range of reasonably priced fashion apparel, making it a destination of choice.

Mold-Tek Packaging, incorporated in the year 1997, is a Small Cap company (having a market cap of Rs 3112.18 Crore) operating in Plastics sector.

MphasiS, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 37176.44 Crore) operating in IT Software sector.

A correction in the stock price may provide a good entry for the long term as Elara remains optimistic on the defence indigenization story, led by the unexplored exports market in the missile space.