Tweet Buster: Shah’s ‘Gold Coin’ and tips to pick right stocks

NEW DELHI: The domestic equity market ended the truncated week gone by on a strong note in complete defiance of the negative cues in the form of a spike in Covid-19 patient counts, US-China tensions and a grim outlook for the domestic economy.The consensus market view is that the rally seen in domestic stocks last week is not sustainable. Some of the Dalal Street mavens expressed the same view on Twitter over the week.Independent market expert Sandip Sabharwal said the stock market is rallying in the hope that companies will do well, the recovery will be strong and earnings will come back rapidly. “If that were the case, why are all industrialists, fund managers, economists asking for a ‘real’ fiscal stimulus,” he asked.#StockMarkets think that Cos doing well,recovery will be strong & earnings will come back rapidlyThen why all Ind… https://t.co/5OIctI2enZ— sandip sabharwal (@sandipsabharwal) 1590681048000The downturn in the economy is likely to stay here for a while, Sabharwal said, underlining the fact that consumption remains very weak.Just finished reading a couple of business papersEntire paper (besides Covid news, flights resumption etc) is ful… https://t.co/W8cT1tTbcI— sandip sabharwal (@sandipsabharwal) 1590459810000iThought co-founder Shyam Sekhar said most market perspectives currently are born out of desire and investors seem far away from reality.Most market perspectives are bred in desire. Investors seem divorced from reality.#investing— Shyam Sekhar (@shyamsek) 1590718956000Sekhar also shared a few tips on how to use this environment to discover the rights bets for investing.The real price discovery will begin only after three bad quarters.It will end only after three good quarters.Wh… https://t.co/zqvcfjddUz— Shyam Sekhar (@shyamsek) 1590631817000Stock-specific actionSabharwal questioned the crazy valuations given to RIL post back-to-back investments for Jio. He said Reliance Jio Mart is just a copy of Bigbazaar, Bigbasket or Grofers and a poor, poor cousin of Amazon, Flipkart, etc.Good luck to all these PE Investors who are giving crazy valuations to Reliance on #JioMart which is just a copy of… https://t.co/xgcRvRdSkb— sandip sabharwal (@sandipsabharwal) 1590471284000During the week, ITC acquired spice-maker Sunrise Foods. Abhimanyu Sofat of IIFL sees it as an important step towards raising revenue contribution from the FMCG business.The acquisition of sunrise which is around inr10bn brand by ITC is an important step for ITC to raise the contribut… https://t.co/eOnTUhhhFF— Abhimanyu Sofat (@sofatabhi) 1590332985000Off-beatKotak AMC's MD Nilesh Shah has coined the idea of ‘Gold Coin’. What’s this concept and how will it work? Take a look:India should launch a Crypto currency called- Gold Coin.Gold is difficult to mine like Bitcoin. Gold is acceptable… https://t.co/2GhKpaGRBw— Nilesh Shah (@NileshShah68) 1590412316000

from Economic Times https://ift.tt/2XRrwE2