Most infra companies have been showing strong momentum since past few months. Some like NCC have broken out above nearly 15 year highs. ( above 142, NCC broke out above 15 year highs. ) I do not track the fundamentals of these companies too closely so not much idea about that. Charts of some of these companies look good.
HBL fundamentals have been well discussed on VP relevant thread. Currently it is more of a momentum play and it has to be played accordingly.
We are in a market where narrative has again started playing an important role. So a company which is perceived to have good future prospects often runs hard even before decent results have come around. And many a times by the time actual good results are declared, stock price has run so hard, it tends to go sideways or often corrects even on better than expected results. But if the prospects for future growth remain bright, after a brief pause or correction, upward momentum is regained.
We are in a market with strong momentum and those wanting to board fast moving trains should be cognisant of the risks involved and then only attempt to board these.
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