Contra stocks to buy: Jefferies picks 3 fallen angels for next 12 months

Jefferies is making a bold move by advising clients to invest in the struggling Indian consumer sector, identifying Varun Beverages, Hindustan Unilever, and Asian Paints as promising contrarian bets. Despite facing challenges like weak demand and margin pressures, these stocks are believed to have bottomed out, offering significant upside potential if the sector rebounds.

PC Jeweller shares surge 5% ahead of board meeting on fundraise proposal

PC Jeweller shares rose 5.2% after the company announced a July 10 board meeting to consider fundraising via preferential allotment. The gain followed a sharp drop after ASM inclusion. The stock had earlier surged on strong Q1 business updates, including an 80% revenue jump and debt reduction. Technicals remain bullish, though RSI signals overbought conditions.