Investors can look beyond listing gains in India Pesticides: CapitalVia’s Gaurav Garg

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Indian benchmark indices surged more than half a percent, reflecting robust Asian signals. The S&P BSE Sensex was up 350 points, or 0.67%, at 52,830 and the broader Nifty50 index traded above the 15,800-mark in afternoon trade. Larsen & Toubro, Bajaj Finserv, and Bajaj Finance were the top Sensex gainers.

Gaurav Garg of CapitalVia Global Research said, “The markets are rising in tandem with global cues. Domestically, triggers will start flowing in from IT earnings with TCS likely to report numbers on July 8. I believe investors can still buy on dips and create long positions keeping key levels in mind”

On the buzz in the primary market space and new listing of India Pesticides which has made its debut with 22% premium listing against the issue price of Rs 296, he said, “Company has very strong fundamentals and proven track record. Considering its competitive strength like diversified product portfolio with specialized products, domestic and strong export market presence, investors can look beyond the listing gains and hold the stock for long term.”

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