In the near term, market is expected to take cues from its global peers and macro data to be released during the week. In addition, investors would watch for India’s GDP number, which will be released on Wednesday. Nifty is showing strength and is inching up gradually toward its life-high levels. Bank Nifty has already crossed its previous highs and is providing much-needed support to the market
Markets are gradually inching towards a record high, however mixed global cues are capping the momentum. This scenario may continue and may keep the traders guessing on the sustainability of the trend. Apollo Hospitals, INOX Wind, Shriram Properties among stocks to watch on Wednesday
Apollo Hospitals Enterprise reported a net profit of Rs 146 crore for the quarter ended March, up 50.5% from Rs 97 crore in the same period of the previous year. However, the bottom line fell significantly short of the analyst's estimate. Revenue for the quarter increased by 21.3% to Rs 4,302.2 crore
Arvind Fashions on Tuesday posted profit of Rs 28.53 crore, in Q4FY23, up 27.5% YoY. It posted revenue from operations at Rs 1,140.01 crore, up 24.4% in comparison to Rs 916.70 crore in the fourth quarter of FY22, aided by sharp rigour on retail operations leading to robust retail LTL of 17% and robust growth in other offline channels
Realty firm Shriram Properties Ltd has reported a 76% decline in its consolidated net profit at Rs 15.82 crore in the quarter ended March on lower income. Its net profit stood at Rs 64.83 crore in the year-ago period. Total income fell to Rs 170.97 crore in the fourth quarter of last fiscal from Rs 236.5 crore in the corresponding period of the preceding year
Apollo Micro Systems Ltd (AMSL) is looking to raise Rs 200 crore to execute its expansion plans through acquisition route. A decision on the fundraising plan was approved by the board of directors at its meeting
Macrotech Developers, Rallis India, BN Holdings, Rex Pipes and Cables Industries, Mipco Seamless Rings, Asian Vegpro Industries stocks will be in focus as the companies will announce their Q4FY23 results and likely dividend on Wednesday. Adani Ports will be in focus after its Q4 result announced on Tuesday.
Inox Wind on Tuesday said it has bagged a 150 MW wind energy project from NTPC Renewable Energy Limited (NTPCREL). The project will be executed in the state of Gujarat. With this, the total orders awarded to Inox Wind from NTPC to date stands at 550 MW
“Nifty uptrend is intact, and this consolidation shall provide an opportunity for initiating fresh long positions. In terms of levels, 18,705 – 18,735 shall act as the immediate hurdle zone while 18,570 – 18500 is the crucial support zone from a short-term perspective,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
"Bank Nifty has achieved a new all-time high, with 44,500 acting as an immediate resistance level. If Bank Nifty manages to surpass this hurdle, the next resistance levels to watch out for are 44,700 and 45,000. On the downside, there is an immediate support zone between 44,150 and 44,000. A breach below this zone may result in profit booking towards 43,700/43,400 levels," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd
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