Auto Sector

Recommendation: Buy; Target price: Rs 2180

Bakhshi graduated with an MBA from Jamshedpur's Xavier Labour Relations Institute.

The Japanese yen yesterday traded slightly lower against the dollar at 146.61 after reaching a one-week high of 145.91 the previous session.

Rising cash pile on the books is depressing the ROEs, which at 17-20%, seem attractive nevertheless; the same holds for ROCEs that are ranging between 19-23%, despite the ongoing capex.

Spot gold was unchanged at $1,921.04 per ounce, while U.S. gold futures were down 0.1% at $1,944.50.

The benchmark Brent contract for international oil prices fell 6 cents to $90.58 per barrel, while West Texas Intermediate crude futures down 2 cents to $87.27.

A more foolproof and credible mechanism of judging the retail participation is the rate of folios growth.

For the month of August 2023, the debt funds saw net outflows of Rs25,873 crore.

In terms of sectors, the PSU Bank index surged by 3%, while the automobile and metals sectors both registered a 2% increase in their stock values.

Investors with very high risk appetite and want to invest for 5 to 7 years to diversify the portfolio should invest in DSP Multi Asset Allocation Fund.