Highlights of 8th Aug ’22 Fundamental Weekly Podcast

- Both Sensex & Nifty Index gained ~1.4% over the past week.

- Global equity markets continued their strong rally on expectations of peaking interest rates in the US.

- On the economy front, GST collections were strong for June (collected in July) at Rs 1,490 billion.

- RBI’s MPC hiked the repo rate by 50 basis points taking the policy rate back to the late-2019 levels.

- FIIs have turned net buyer till date in the month of August to the tune of Rs 5,385.73 crore.

- Weekly pick: JK Paper - The company enjoys superior margin and has enough room to scale up the production.

- Other picks: Voltas - The company’s 1QFY23 earnings missed expectations by a wide margin. We cut FY2023-25E EPS by 7-18%.