Investors are waiting for the US Fed policy-meeting outcome, which would give some insights into the future rate cycle. On the domestic side, the market structure remains positive on the back of healthy macro data, strong earnings, and FIIs buying over the last few days
The short-term trend of Nifty seems to have cooled off after a decent upside movement. There is a possibility of further consolidation or minor weakness for the next 1-2 sessions. Adani Enterprises, Titan, Adani Wilmar, HDFC among stocks to watch on Thursday
HDFC is all set to report a single-digit rise in net profit on a 5-15% jump in net interest income (NII). Net interest margin (NIM) is likely to be stable sequentially. Outlook on margins, home loan demand, and asset quality in the non-individual segment would be key monitorables
Adani Wilmar reported a 59% decline in the net profit at Rs 93.61 crore for the quarter ended on March 31, 2023. The company had reported a net profit at Rs 219.23 crore in the same year previous year. Its revenue from operations dropped 7% YoY to Rs 13,872.64 crore from Rs 14,917.26 crore
Adani Enterprises, the Adani Group's flagship, will report its quarterly results on May 4, Thursday. Its board would also consider a proposal for dividend. This will be the company’s first quarterly result after the scathing report released by Hindenburg Research in January this year
Titan has posted a standalone net profit of Rs 734 crore for the quarter ended March, up 50% over Rs 491 crore reported in the same period last year. Revenue from operations surged 33% to Rs 9,704 crore for the quarter under review, from Rs 7,276 crore reported in the year ago period. Titan Company on May 3, 2023, announced a dividend of Rs 10 per share with a face value of Re 1
Sula Vineyards has reported a consolidated net profit of Rs 14.2 crore for the fourth quarter, higher by 5%, as against Rs 13.5 crore in the same period last year. Revenue from operations rose 7% YoY to Rs 120 crore for the quarter under review as against Rs 112 crore in the corresponding quarter of last year
MRF on Wednesday reported a consolidated profit of Rs 313.53 crore for Q4FY23, up 86% YoY. Its consolidated revenue from operations stood at Rs 5,841.7 crore in Q4 FY23, up 10.12% YoY
“The Nifty uptrend is still intact, and this consolidation should be taken as an opportunity to create fresh long positions. On the downside, crucial support zone is placed at 18,000-17,960 while gap area formed today between 18,115 – 18,130 shall act as an immediate hurdle zone,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
“For Bank Nifty, the short-term range remains intact at 43,000-43,500. A decisive move on either side may induce a directional move in the index. Immediate support is visible at 43,150. On the other hand, a move above 43,500 may induce a rally towards 44,000,” said Rupak De, Senior Technical Analyst at LKP Securities
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position