“Nifty should most likely cross the 20k mark on Friday given the ongoing momentum and clear strength visible in the market. Strong heavy weights results are likely to further influence the market direction in the near term. Investors eagerly await Reliance Q1 results, which will be announced Friday, and management commentaries on the same along with further details on Jio's financial listing,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Financial Services
Markets may consolidate citing the psychological hurdle of a new milestone and overbought positions. However, rotational buying across sectors would keep the tone positive, said Ajit Mishra, SVP - Technical Research, Religare Broking. Reliance Industries, Infosys, HUL, Tech Mahindra, Vedanta, LIC among stocks to watch on Friday
Infosys on Thursday said its net profit grew 10.9% YoY to Rs 5,945 crore for the June quarter compared with Rs 5,360 crore in the same quarter last year. Net sales rose 10% YoY to Rs 37,933 crore from Rs 34,470 crore in the corresponding quarter last year. Revenue growth came in line with Street expectations
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Hindustan Unilever on Thursday reported 8% rise in standalone net profit at Rs 2,472 crore for the quarter ending June 30, 2023. It reported standalone net profit of Rs 2,289 crore in the year-ago period. The firm's standalone total income increased 6% to Rs 15,333 crore in Q1FY24 as against Rs 14,409 crore in Q1FY23
Reliance Industries will report its June quarter results on Friday. Along with its quarterly earnings, the oil-to-telecom major would consider a proposal of dividend payment to shareholders. This would come a day after RIL shares went ex-date for demerger of financial services business (to be renamed as Jio Financial Services or JFS)
LIC, Tech Mahindra, L&T Finance, Dabur India, Cipla, Abbott India, Angel One, Archean Chemical, Blue Star, KPR Mill, M&M Financial Services, Minda Corp, Sonata Software, Symphony, Thermax, Zudus Wellness are among the stocks that will trade ex-dividend on Friday (July 21)
20 Microns, Aarti Drugs, Ashok Leyland, Atul, Aditya Vision, Benaras Hotels, CMS Info, CreditAccess Grameen, Cyient DLM, DLF, Dodla Dairy, GNA Axles, HDFC Life, Hindustan Zinc, JSW Steel, Mega Nirman, Ponni Sugars(E), Paytm, Ramkrishna Forge, Reliance Industries, Suraj, Tejas Networks, UltraTech Cement, Vedanta, Wendt
"The near-term uptrend remains intact and the Nifty is at the edge of reaching historical 20K mark. The present upside momentum is likely to continue for the short term and the next crucial upside resistance to be watched around 20,450, which is 100% Fibonacci projection-taken from important bottom-top-bottom as per weekly chart. Immediate support is at 19,850 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty witnessed a breakout from the inside bar pattern on the upside and also witnessed follow-through buying interest. The daily and the hourly momentum indicator also have a positive crossover. Thus, both price and momentum indicators are suggesting a continuation of the upmove and expect the Bank Nifty to target levels of 46,500," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
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