Global markets are seeing a selloff as the debt ceiling negotiations continue. Investors remain cautious as the US faces the possibility of defaulting at the start of June. Market experts expect some consolidation over the next few days before a fresh leg of the rally starts
Benchmark indices NSE Nifty 50 and BSE Sensex remained under pressure in the previous session, and finally ended in the red. SBI, Jubilant FoodWorks, Devyani International, Suzlon among stocks to watch on Thursday
State Bank of India will report its Q4FY23 number on Thursday. The public sector lender is likely to post a 68% rise in profit over the last year. Whereas net interest income (NII) is expected to increase 25%
Renewable energy solution provider Suzlon has bagged a wind energy project from Vibrant Energy for 33 wind turbine generators featuring its new 3 MW (each) series with a Hybrid Lattice Tubular tower for a 99 MW wind power project, which is expected to be commissioned by FY25
Jubilant FoodWorks posted a net profit of Rs 47.5 crore in Q4FY23, registering a 59% drop from Rs 116 crore in the corresponding quarter of last year. The operator of Domino's chain in India reported revenue of Rs 1,252.3 crore in Q4FY23, a growth of 8.2% YoY as compared to Rs 1,157.8 crore last year
SpiceJet on Wednesday got interim relief from the Supreme Court in Credit Suisse’s contempt plea as the apex court adjourned it to July 18. The low-cost carrier informed the court that it will be making payments of $500,000 to Credit Suisse on the 15th of each month and urged the court to adjourn the case by two months
Zydus Wellness Ltd on Wednesday reported a 9% rise in consolidated net profit at Rs 145.33 crore in the fourth quarter ended March 31, 2023. The company had posted a consolidated net profit of Rs 133.3 crore in the year-ago period. Consolidated total revenue from operations stood at Rs 712.98 crore during the quarter under review as compared to Rs 639.78 crore in the year-ago period
Devyani International Ltd reported a decline of 21.15% in its consolidated net profit to Rs 59.87 crore for the fourth quarter ended on March 31, 2023. The company, which is the largest franchisee of Yum Brands in India, having Pizza Hut, KFC, and Costa Coffee, reported revenue from operations during the quarter at Rs 754.97 crore, up 27.8% YoY
“On the immediate basis, a post-correction pullback may take Nifty back to 18,300, where bears might be awaiting to re-enter the market. A rejection from the 18,300 may trigger selling pressure once again. Immediate support is visible at 18,100,” said Rupak De, Senior Technical analyst at LKP Securities
“The Bank Nifty index continued to face selling pressure from a higher level and the index closed below the level of 44,000. The highest open interest on the call side is built up at 44,000 Ce stroke and a break above this will resume the up move. The downside support stands at 43,500 and a break below this will accelerate the down move,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
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