“With the start of Q1FY24 earnings season, market is likely to witness more stock-specific action. In the near term, market may remain in consolidation mode though the undertone remains positive on the back of strong FII inflows, robust domestic macro-micro factors, and expectation of normal monsoon,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Financial Services
“The prevailing buoyancy in the global markets, especially the US, would help in keeping the tone positive. Meanwhile, we recommend maintaining a cautious approach in the selection of stocks and focusing more on risk management,” said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd. Senco Gold, Wipro, HDFC Bank, M&M, Apollo Tyres, Hindustan Zinc are among stocks to watch on Friday
Wipro on Thursday reported a 11.95% YoY rise in consolidated net profit at Rs 2,870.1 crore. Revenue for the quarter rose 6.04% YoY to Rs 22,831 crore on annual basis. The profit growth fell short of analyst estimates but the revenue figure came in line with expectations
Godrej Properties announced that it has emerged as the highest bidder and has secured the Letter of Intent (LOI) to develop two group housing plots through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP)
India's largest private sector lender, HDFC Bank, on Thursday claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform. The Reserve Bank of India last November launched the Central Bank Digital Currency (CBDC) pilot programme, a tokenised digital version of the rupee for wholesale and retail early December
Senco Gold is expected to glitter with opening gains of around 35-40% today, due to robust subscription demand for the IPO, strong brand name with asset-light franchise business model and five decades of experience in the industry. Favourable equity market conditions in current financial year is also one of key reasons behind strong listing expectations
Federal Bank on Thursday posted Q1FY24 profit at Rs 880.12 crore, up 38.8 per cent in comparison to Rs 634.22 crore during the same quarter last year, beating analyst expectations. The private lender earned an interest of Rs 5,349.77 crore during the quarter as against Rs 3843.09 crore in Q1FY23. Its total income for the quarter was at Rs 6,091.08 crore
CCL Products India, VST Industries, Tata Steel Long Products, Unichem Laboratories, Sastasundar Ventures, Virinchi, Amal, Coromandel Engineering Company, Alfred Herbert (India) will announce first quarter results
Shares of Apollo Tyres, Aptech, Astrazeneca Pharma, Atul, AU Small Finance Bank, Bosch, Birlasoft, Globus Spirits, Hindustan Zinc, Lupin, Mahindra and Mahindra (M&M), Mahindra Logistics, Safari Industries, Tasty Bite Eatables, REC, Ujjivan Small Finance Bank will trade ex-dividned on Friday, July 14, 2023
"We observe minor degree of higher lows and the overall trend status for Nifty remains positive. Any weakness below the immediate support 19,300 could drag Nifty down to 19,200-19,100 levels in the near term. A decisive upside above 19,550 is likely to bring more upside for the short term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty continued to correct and traded in a downward-sloping channel. It has now reached the lower end of that channel and also the 50% Fibonacci retracement level (44,600), which should attract buying interest. We expect the Bank Nifty to start recovering as it has now reached a crucial support zone. On the upside initially, we expect it to target 45,000," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
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