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#458 Daily Money Show | Money Purse Stock Market News
Original: # 458 Daily Money Show | Money Purse Stock Market News
Takeaway
In 2023 broker outlook, prefer capital goods, pharma and telecom and avoid IT services and NBFCs; IRCTC's Rs 680 OFS is a marquee divestment to watch.
Summary
- Outlook for 2023 from broker houses: Citi Research bullish on Nifty December 2023, overweight capital goods, pharma/healthcare, telecom; neutral on consumer staples, real estate, energy; underweight discretionary, materials, paints, NBFCs, durables, IT services, cement.
- IRCTC OFS at Rs 680 per share to divest 2.5% government stake, retail tranche until December 16.
- Block deal updates on Sufra Foods Mauritius unloading ~41 lakh shares; 27 lakh shares sold (~10.7% equity).
- Q&A on share buybacks - why companies buy back at premium when market price is lower; benefits for remaining shareholders via EPS uplift.
irctc-ofsbuyback2023-outlook
Original description
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