The expectation of RBI to end the rate hike cycle cheered markets on Monday. India’s WPI inflation declined for the 11th straight month, falling to -0.92% in April. All these factors contributed to positivity in the market
Benchmark indices are marching ahead driven by favourable developments such as declining inflation levels, steady foreign inflows. Bharti Airtel, Bank of Baroda, Vedanta, Adani Enterprises are among stocks to watch on Tuesday
The hearing over the plea moved by the Securities and Exchange Board of India (SEBI) on the Adani-Hindenburg row was adjourned on Monday. CJI DY Chandrachud said that the hearing will now take place on Tuesday, May 16, 2023
Bharti Airtel is expected to report a 15% YoY increase in net profit when it releases its Q4 earnings today, May 16. Profit may rise to Rs 2,318 crore in Q4FY23, while revenue may grow 16% YoY to Rs 36,521 crore
Berger Paints posted a consolidated net profit of Rs 186 crore in Q4FY23, registering a fall of 16% from Rs 221 crore posted in the same quarter last year. Its consolidated revenue rose 12% YoY to Rs 2,444 crore. The board also recommended a dividend of Rs 3.2 per share for FY23
Kalyan Jewellers India reported a net profit of Rs 71 crore for Q4FY23, registering a decline of 1.6% from Rs 72 crore in the year-ago quarter. Its consolidated revenue during Q4FY23 increased 18% YoY to Rs 3,382 crore. EBITDA margin remained flat at 7.6%
Bank of Baroda will report its March quarter (Q4) results for FY23 on Tuesday, May 16. Analysts expect the bank's financial performance to weaken sequentially, due to lower interest income. On an annual basis, however, profit after tax (PAT) may rise up to 140%
Vedanta has announced the appointment of Holcim executive Sonal Shrivastava as its Chief Financial Officer (CFO) with effect from June 1, 2023
“The underlying short-term trend of Nifty continues to be positive. The market is still facing hurdles around 18,400 levels. Any dips could be a buying opportunity around 18,280-18,200 levels. A sharp upside above 18,400 could open further upmove towards 18,600-18,800 levels in the near term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty is all set to make a new high. The rally can extend towards 44,500- 45,000 in continuation of this uptrend. Banknifty has strong support at 43,000- 42,500. Traders can buy Bank Nifty from current levels with an appropriate risk-reward ratio,” said Rajesh Palviya, SVP - Technical and Derivatives Research, Axis Securities
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