Analysts ET spoke with said the Tatas would probably not want to kill the competition by flooding the market with capacity or slashing ticket prices.

Even though IT is highly valued, this segment is attracting increasing flows since earnings visibility is high in the segment while banking is struggling with poor credit growth and rising asset quality concerns, he added.

The major takeaway from the RBI governor’s address was the clear communication on the RBI’s course of action towards normalisation, and assurance that the RBI would continue with the accommodative till the economy shows a stable recovery path.

Monday is likely to see the levels of 17,950 and 18,090 acting as immediate resistance points. The supports come in at 17850 and 17790 levels. The Relative Strength Index (RSI) on the daily chart stands at 65.74; it remains neutral and does not show any deviation against the price. The daily MACD is bearish and remains above the signal line.

Read more on Raamdeo’s take on value migration in banks, how to play economic cycles, contra view on energy companies, outlook on auto and gold financiers in this week’s edition of ‘Long & Short of Markets’.

Reliance Industries was leading the chart of the top 10 most valued companies list followed by Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Bajaj Finance, State Bank of India and Kotak Mahindra Bank.

“Investors can allocate 10-15% of their total equity into a mutual fund portfolio that invests in global equities. Such an allocation increases portfolio diversification while adding the benefits of a favourable US Dollar-Rupee rate.”

Alliance Air was a fully-owned regional subsidiary of Air India, which was carved out from the national carrier after the government decided to divest stake in it. Alliance Air operates a fleet of 19 ATR planes that connect 48 destinations and made an operating profit of ₹65.09 crore in FY20 and a net loss of ₹201 crore during the period.

As the Indian economy is recovering, select hotel and travel stocks are rallying hard and fast. Volatility in the commodity block is also inducing sharp movement in related stocks. Last week was a perfect spectacle of the trend.

The Chennai-based company, an integrated cash logistics player with leading presence in retail cash management segment, will mainly utilise the fresh issue proceeds from the initial public offering (IPO) towards funding working capital and capital expenditure requirements.