Analysts on the street feel that interest rates, inflation numbers and rising crude prices have been hindering growth of the Indian market. PN Vijay, Portfolio Manager, told CNBC-TV18 that the Indian stock market is negatively correlated to oil over the past three years; however, he thinks that a recent drop in oil rates on the back of the International Energy Agency’s (IEA) announcement to release 60 million barrels is likely to push the market up.
Thursday 23 June 2011
4 stocks with top brokerages' stamp of approval
UBS maintains a "buy" on L&T with a target of Rs 2,100. L&T's has bagged new orders worth USD 55 billion this week. The strong order inflow growth augurs well for the stock price performance, it is currently trading at lower than average of its historical range and looks like an attractive opportunity to buy.
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