“Nobody can really call the end of this particular cycle of a bear market. It could be a sideways market. It certainly does not look like a bull market. Nobody can call the change of this phase unless we have some visibility on oil prices and these geopolitical events which certainly keep on popping up from time to time impacting the sentiment.”

Oberoi Realty, incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 33836.82 Crore) operating in Real Estate sector.

With a pickup in demand and branch additions in untapped regions, the brokerage expects VRLL to clock 21% revenue CAGR over FY21-24E. With robust volume and cost efficiency measures, it will be able to maintain its EBITDA margin profile at 16% over the next two years, it said.

FEL is a part of Rs 24,713 crore deal announced by the Future group in August 2020, in which it had announced to sell 19 companies operating in retail, wholesale, logistics and warehousing assets to Reliance Retail.

“The petrochemical cycle is in their favour, we are getting into a golden era of refining margins; Jio is doing well and we have only a three-player telecom market and it only gets better from here. In retail they are doing pretty well. And in renewable energy, if they are able to create a disruptive technology and deliver at $1, it can be a game changing event.”

Analysts noted that gold is consolidating in a narrow range following a sharp decline.

"The 17,000-17500 range for Nifty50 is likely to hold for the near term with a breakout likely in early April triggered by positive earnings season. The bullish undertone of the market is evident from the fact that in spite of lots of unfavourable developments, Nifty is up by 2.5 per cent in March so far and India is outperforming most of the markets," said Vijayakumar of Geojit Financial Services.

The Nifty Pharma index was trading 0.21 per cent up at 13753.95.

On the technical charts, the 200-day moving average of the stock stood at Rs 657.83.

There is an expectation of strong 1QFY23 amongst channel partners barring for geopolitical tensions and supply constraints.