Indian equities gained confidence from strong domestic earnings and fading concerns over the US economic slowdown following robust job data. The recent weakness in the US dollar is drawing more foreign funds to the domestic market, with FIIs remaining net buyers for seven consecutive days
Market is expected to continue with its positive structure dictated by corporate earnings and consistent buying by FIIs. Mankind Pharma, Canara Bank, Exide Industries among stocks to watch on Tuesday
India’s largest battery manufacturer on Monday reported 3% increase in standalone profit at Rs 281 crore for Q4FY23. The company's board also announced a final dividend of Rs 2 (200% on the face value of Re 1 per share) for FY23
SpiceJet on Monday said "there was no adverse ruling" by NCLT against it. The National Company Law Tribunal issued a notice to SpiceJet on a petition filed by an aircraft lessor seeking initiation of insolvency resolution proceedings against the budget carrier and the next hearing is scheduled for May 17
Mankind Pharma, the domestic-focused fourth-largest pharmaceutical company in the Indian pharma market, will make its debut on the BSE and NSE today. Mankind Pharma shares will remain in focus post-listing
Happiest Minds Technologies clocked tepid growth in the March quarter even as profit remained flat and missed estimates. Revenue of the IT services firm rose 2.94% over the previous three months to Rs 377.98 crore in the quarter ended March 31, 2023
UPL Ltd posted weaker-than-expected earnings for Q4FY23. The company's consolidated net profit for the January-March period plunged 43% from the previous year to Rs 792 crore. The numbers were far below the street's estimate
Canara Bank on Monday reported March quarter net profit at Rs 3,232.84 crore, up 64.2% YoY. It posted total income of Rs 31,774.04 crore in the fourth quarter of FY23, up 29.6% YoY. The Board also recommended a dividend of Rs 12 per equity share of face value of Rs 10 each
“The short-term trend of Nifty remains positive. A sustainable move above 18,300 levels is expected to pull Nifty towards the next upper area of 18,600-18,700 levels in the near term. Any failure to surpass above the hurdle is likely to result in further consolidation with minor weakness. Immediate support is at 18,100-18,050 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty index surpassed the level of 43,000, which will now act as support on the downside. The immediate hurdle on the upside is placed at 43,500 and once taken out on a closing basis will witness a sharp short covering towards all-time high levels,” said Kunal Shah, Senior Technical and Derivative analyst at LKP Securities
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