Weekly Fundamental Podcast With Rini Mehta | 13th March 2023

Highlights of 13th March Fundamental Weekly Podcast: - Nifty Index lost 1.03% while Sensex lost around 1.10%. - BSE Midcap Index lost 0.09% while BSE SmallCap Index gained 0.44%. - Global markets' sentiments were impacted after Fed Chairman Powell’s said that the Fed may have to raise interest rates higher than previously anticipated. - The persistently strong jobs market and hotter-than-expected January inflation data changed the outlook for the Fed. - The futures market is pricing an end point for Fed rate hikes near 5.75%, against the current target range of 4.50%-4.75%. - FII turns net buyer in the month of Mar’23 till date to the tune of Rs 14,361 cr. - PICK OF THE WEEK – GSPL TARGET - Rs 375 - GSPL’s 3QFY23 EBITDA (-19% qoq, -20% yoy) was 15% below our estimates driven by further weak volumes (-9% qoq, -30% yoy) and higher opex. - With new KG-D6 volumes ramping up and LNG prices softer, volumes have likely bottomed and should recover from 4QFY23.