It all depends on the rupee. If one can see rupee really stabilising at these levels, the market has really made a bottom.
If you look at some weeks back, the rupee was 60, Nifty was also at around 6,000 and the dollar index was close to 82.5. Given this, we have a India-specific problem that is the reason the rupee has depreciated whereas the dollar has strengthened. Nifty has corrected because of liquidity related issues. I don't think the correlation continues. I am confident that dollar will appreciate much more than what people are visualizing ... it will depreciate or appreciate more in terms of developed market currencies rather than emerging market currencies."
Amara Raja Batteries is a leading brand in domestic lead acid battery market for both automotive and industrial segment. The company has high growth prospects in segments like telecoms towers, home UPS and solar batteries.
The battery maker is also trying to increase their market share in replacement and OEM market. The battery maker operates in high pricing power owing to duopolistic business.
Top blue-chip stock
Cipla: Underperformed and relatively cheap
CiplaBSE 5.09 % is a leading player in the domestic market. The pharma major has the potential of a strong growth in generic export marketwith exposure to emerging markets. Improving product pipelines like inhalers should lead to improvement in margins.
Concerns: However, regular delays likely in inhaler market. Additionally, increase in filing costs for the US front end might weight on the stock.
Emami: Relatively cheap and under-owned
Emami has strong brands in niche segments. It has higher domestic growth compared to its peers. Margins are likely to improve due to reduction in raw-material costs.
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