Highlights of 19th December '22 Fundamental Weekly Podcast:

- Nifty and Sensex were weak during the week and lost around 1% each.

- BSE Midcap Index lost 1.2% while SmallCap gained 0.2%.

- Global equity markets witnessed a large increase in volatility as global central banks reiterated their intent to keep policy rates high for an extended period to quell elevated inflation in their respective economies.

- PICK OF THE WEEK – CARBORANDUM UNIVERSAL - TARGET - Rs 975

- Firmly in fertile zone

- Linked growth benefits have started playing out in small quantum.

- We increased the FV by 8% to Rs975 on ~3% higher estimates, 1X higher multiple and roll-forward to 30X Dec-2024E EPS-based FV.