Mounting uncertainty in both global and domestic markets has kept Indian equities highly volatile. The global market has been unsupportive due to the expectation of another rate hike. Given the cautious global sentiment, withdrawal by FIIs has hampered the market trend
Mounting uncertainty in both global and domestic markets has kept Indian equities highly volatile. Reliance Industries, Hindustan Zinc, ICICI Bank among stocks to watch on Monday
Reliance Industries (RIL) reported a 19.10% YoY jump in net profit at Rs 19,299 crore for Q4FY23 with Rs 16,203 crore profit in the corresponding quarter last year. Its revenue from operations for the quarter rose 2.12% YoY to Rs 2,16,376 crore compared with Rs 2,11,887 crore in the same quarter last year.
Reliance Industrial Infrastructure Ltd (RIIL) reported a massive 983% on-year jump in the net profit clocked during the fourth quarter of fiscal year 2022-23, at Rs 11.54 crore. In the corresponding period of FY22, RIIL had reported a net profit of Rs 1.06 crore
ICICI Bank Ltd on Saturday reported 30% jump in standalone net profit at Rs 9,122 crore for the quarter ending March 31, 2023 on the back of improved net interest income and healthy loan growth. Its net NPA ratio declined to 0.48% as of March 31, 2023.
Yes Bank on Saturday reported a near 45% drop in net profit YoY for Q4FY23 as provisions for bad loans increased. Net profit fell to RS 202 crores for the reporting quarter from Rs 367 crores in the same period a year earlier.
Hindustan Zinc reported a consolidated net profit of Rs 2,583 crore for Q4FY23, down 12% from Rs 2,928 crore in the year-ago period. Total sales for the company came in at Rs 8,509 crore, down 3% from Rs 8,797 crore in the corresponding quarter of the previous year.
“A fall below 200 DMA, currently pegged at 17,605, might trigger a panic button for Nifty. Below 17,600, the Nifty may slip towards 17,400. On the higher end, resistance is placed at 17,700, above which the index may move towards 18,000,” said Rupak De, Senior Technical Analyst at LKP Securities
“Bank Nifty is consolidating in a broad range between 42,000-42,500 and a break on either side will have trending moves. The index if it fails to hold the support of 42,000 on a closing basis will witness further downside toward the 41,500 level,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities
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