Indian equities look set to extend their winning streak to the fifth day, with the Nifty futures pointing to a positive start. Technical analysts are likely feeling chuffed after the formation of a so-called golden cross for the benchmark index, which has in the past presaged gains. Asian stocks are also trading higher, buoyed by expectations about the US-China trade talks, and that’s likely to support sentiment. 

Marlboro expansion draws bulls to Godfrey Phillips

Godfrey Phillips India has emerged as a standout in Bloomberg’s tobacco stock cohort, rising over 50% so far this year. Valued at more than $5 billion, the company plans to expand its Marlboro brand presence in southern India, a region dominated by rival ITC. Analysts at B&K Securities are bullish about the company’s growth prospects, citing the resolution of the family dispute and its ambition to challenge ITC’s dominance in many markets. They expect the firm to rank among the fastest-growing FMCG players in India over the next three years.

Realty a solid bet despite growth moderation: JM Financial

After a rocky start to 2025, property stocks are back in favor, with the NSE Realty index rallying 26% over the past month. While analysts at JM Financial expect growth to moderate because of a high base, they point to a comfortable demand-supply scenario and manageable inventory levels. The recent RBI rate cut is also seen as a positive, likely making houses more affordable for buyers and enhancing financial viability for developers. DLF is their top pick, followed by Sobha, Keystone and Embassy Office Parks REIT.

Rail stocks may run out of steam without capex: Kotak

Rail stocks have been among the star performers over the past month, despite fundamentals that don’t fully support the rally. Analysts at Kotak warn that the outlook for a meaningful pickup in railway capex remains weak in the medium term. They also flag low visibility on large new projects, such as high-speed railway networks akin to the dedicated freight corridors or the upcoming Ahmedabad-Mumbai bullet train. Still, retail investors appear undeterred, continuing to enjoy the ride.

And, finally.. 

Traders seeking confirmation of further upside in local shares cheered on Monday as the Nifty formed a golden cross — a bullish technical pattern that occurs when a short-term moving average crosses over a long-term one. In this case, the Nifty’s 50-day moving average closed above its 200-day mean, a signal that historically points to strong gains. A similar crossover between June 2023 and January 2025 presaged gains of as much as 42% in the index.

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Published on June 10, 2025