Nifty on Thursday reclaimed the 18,200-mark for the first since January 24. The index is now placed to witness a sharp upside breakout of the crucial resistance zone of around 18,200-18,300 levels. Hence a decisive move above this area could open the next upside targets of around 18,600-18,700 levels in the near term, according to analysts
The short-term trend of Nifty seems to have cooled off after a decent upside movement. Adani Enterprises, Adani Power, HDFC, Paytm among stocks to watch on Friday
Adani Power will report its Q4FY23 results today. This will be the company’s first quarterly report card after the scathing Hindenburg Research report released earlier this year in January
Tata Power posted a 48% jump in its fourth quarter profit for FY23 at Rs 939 crore, against Rs 632 crore in the same period last year. Revenue was up by 6% at Rs 12,755 crore in Q4 FY23 over Rs 12,085 crore in Q4 FY22 due to higher sales across distribution companies and capacity addition in renewables
Adani Enterprises on Thursday, reported a 138% rise on a YoY comparison in the consolidated net profit at Rs 722.48 crore for the quarter ended on March 31, 2023. The company’s consolidated revenue from operations increased over 26% to Rs 31,346.05 crore in the March 2023 quarter
Hero MotoCorp posted a 37% YoY rise in net profit, at Rs 859 crore, for the quarter that ended on March 31, 2023 (Q4 FY23). The company's revenue from operations for the quarter stood at Rs 8,307 crore against Rs 7,422 crore, reflecting a growth of 12%
Paytm will report its Q4FY23 result on Friday. The fintech firm is expected to deliver healthy sequential growth in revenue as it is expected to give improved loan disbursal and new device addition in Q4FY23
HDFC reported a 19.59% YoY rise in standalone net profit at Rs 4,425.50 crore for the March quarter compared with Rs 3,700.32 crore in the same quarter last year. Net interest income (NII) for the quarter jumped 16% to Rs 5,321 crore
“The current uptrend in Nifty might remain in force as long as it sustains above 18,200. On the higher end, the rally might extend towards 18,500,” said Rupak De, Senior Technical Analyst at LKP Securities
“The Bank Nifty index remains in a strong buying momentum and one should keep a buy-on dip approach with potential targets of 44,000/44,300 on the upside. The lower-end support is at the 43,400-43,300 zone which will act as a cushion for the bulls,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities
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