Hemang Jani likes Zomato, Swiggy as tactical bets; how would you like to play these platform companies?
Hemang Jani, Independent Market Expert, says Zomato is now part of the Nifty and typically, when you see some flows either ETF related or otherwise in one of the global indices, that creates its own impact on the stock. So, definitely from a fundamental standpoint, given the 30-35% discount at which Swiggy is trading at, that would be a preferred bet. Jani says as a short-term tactical play, he likes Zomato, Swiggy, and some of the other platform companies.
Yesterday when the markets were closing, we did not anticipate this bolt out of the blue coming in from the Federal Reserve, the fact that the dot plot is indicating only two rate cuts next year.
Hemang Jani: After going through weakness in the last two days, this was clearly not expected. And the way the entire event panned out wherein the rate cut guidance has been only muted and only two rate cuts is what the Fed is looking at and maybe probably because of the way the US markets also had gone up in the last, let us say, about six months or so, so typically, the market tends to create a hype around certain events. When you do not see something coming out as per expectation, there is a huge swing in volatility and which is what we are seeing over there. From our perspective, maybe you could see a bit of a negative start. But our market is actually segregated into two halves.
One is the index-based companies, which are going through a bit of a weakness. But at the same time, the broader market, certain pockets are actually showing a lot of resilience. So, we
