“The next 18 months is the time to accumulate FMCG. We think that along with asset allocation, looking at themes which have done badly is a good way to invest for the future. That is why we have launched Housing Opportunities NFO and it gets us to invest in a number of sectors like banking, cement, housing finance and power which have also done badly over many years.”

TCS had proposed to buy back up to 4,00,00,000 shares of the company for an aggregate amount not exceeding Rs 18,000 crore, or 1.08 per cent of the total paid up equity share capital, at Rs 4,500 per share.

The S&P/ASX 200 ended 0.3% higher at 7,406.2, adding 1.5% for the week.

The Relative Strength Index of the stock stood at 38.0 on Friday.

For the week, the CSI300 Index declined 2.1%, while the Shanghai Composite Index was down 1.2%.

The stock quoted a 52-week high price of Rs 1267.5 and low of Rs 678.65.

On the technical charts, the RSI of the stock stood at 64.32.

The government has been aggressive with Ethanol Blending Program, which augurs well for large players like BRCM, to raise capacity.

Shares of Jindal Steel have climbed 8.4 times since early April 2020 while those of Tata Steel have surged 5.3 per cent during the same period. A median target of 31 analysts on Tata Steel suggests a potential 23 per cent upside. Another such target of Rs 574.71 on Jindal Steel suggests a modest 9 per cent upside.

The stock traded at a P/E multiple of 62.67, while the price-to-book value ratio stood at 12.7.