Adani Green Energy, Tata Steel, NDTV, Tata Motors, other stocks to watch on May 2, 2023
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The release of a weaker US GDP number and high inflation will trigger further cautiousness in the global market in the coming days. In the domestic market, the release of PMI numbers and quarterly earnings will sway investor sentiment in the upcoming sessions, along with the Fed policy announcement
PMI, Q4 numbers to
guide markets
PMI data from the US, China and India would be keenly watched this week. On the domestic front, investors would continue to track Q4 results along with global cues and auto monthly sales data. Tata Steel, Adani Green Energy, Tata Motors, NDTV among stocks to watch on Tuesday
Stocks to watch on
May 2, 2023
Gautam Adani-owned New Delhi Television Ltd (NDTV) on Monday reported 97.5% fall in net profit (attribute to owners) at Rs 59 lakh for the quarter ending March 31, 2023 due to weak advertising demand. It reported net profit of Rs 24.16 crore in the year-ago period.
NDTV
Star Health and Allied Insurance, where the Jhunjhunwala family owns 17.32% stake, reported a PAT of Rs 101.79 crore for Q4FY23. Sales for the quarter rose 11.2% YoY to Rs 2,912.52 crore
Star Health and Allied
Insurance
Shares of Adani Green Energy will be in focus on Tuesday as the Adani Group firm announced its earnings for the quarter and fiscal ended March 2023 on May 1. The stock closed 3.67% higher at Rs 950.60 on April 28
Adani Green Energy
Tata Steel to declare its fourth quarter earnings today. In the last quarter of financial year 2022-23, Tata Steel's India operations are expected to recover led by price hikes partially offset by higher input costs. However, Europe operations are expected to report an EBITDA loss led by weak demand. EBITDA is expected to decline 62% YoY, while margins are expected at 9.8%
Tata Steel
Tata Motors’ total wholesales declined by 4% to 69,599 units in April, as compared with the same month last year. Its total domestic sales declined by 4% to 68,514 units last month, as compared with 71,467 units in the year-ago period
Tata Motors
Shares of the Tata Group firm will be in focus on Tuesday after it posted a 5.9% rise in consolidated net profit at Rs 55.56 crore for the quarter ended March 2023 compared to Rs 52.46 crore in the corresponding quarter a year ago. The stock ended 0.46% higher at Rs 777.40 in the previous session
Tata Metaliks
“The short-term uptrend of Nifty remains intact and the market is expected to reach up to the next resistance of 18,200-18,300 levels in the next week. Immediate support is placed at 17,900 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Nifty technical view
“Bank Nifty has remained above the consolidation breakout point on the daily chart, and above the critical moving average. The trend will likely remain positive as long as it remains above 43,000 on a closing basis. On the higher end, Bank Nifty might move towards 43,300/43,500 over the near term,” said Rupak De, Senior Technical Analyst at LKP Securities
Bank Nifty view
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