“Expect the positive momentum to continue on the back of healthy earnings, consistent FII inflows, and improving monsoon. The technology sector is likely to remain in action as TCS and HCL Tech will announce their result on Wednesday. Investors would also watch for India and US’ inflation data,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Financial Services
Indian share markets edged higher in a volatile session on Tuesday. Investors are closely eyeing the US markets, Q1 results, CPI inflation data for cues. TCS, HCL Tech, Jubilant Foodworks, HDFC are among stocks to watch on Wednesday
Shares of Jubilant Foodworks will be in focus on Wednesday as the stock will trade ex-dividend. The Dominos Pizza India operator had announced a final dividend of Rs 1.2 per equity share along with their Q4FY23 results
Tata Consultancy Services Ltd (TCS) June quarter results will be out post-market hours today. Analysts largely see the Tata Group firm reporting a 15-20% YoY rise in net profit on a double-digit YoY rise in sales. Revenue is seen rising 0.5-0.8% in dollar terms and flattish in constant currency (CC) terms. Margin is seen expanding on YoY basis, but salary hikes may weigh on sequential basis
Dr Reddy's Laboratories is looking to enhance its presence in various emerging segments like nutraceuticals and aims to get into integrated digital healthcare services as part of its future growth plans. In its annual report for 2022-23, the Hyderabad-based drug major informed the shareholders that it also intends to follow a disciplined approach towards cash management and acquisitions
HCL Tech will report its Q1FY24 earnings on Wednesday. The IT company is expected to post muted earnings for the June quarter amid weak seasonality in IT (Information Technology) services segment due to annual productivity benefits passed on to certain large customers
AKI India, Artson Engineering, National Standard (India), Anand Rathi Wealth, 5Paisa Capital, Hathway Bhawani Cabletel & Datacom, Pressure Sensitive Systems, Sanathnagar Enterprises, Steel Strips Wheels will report the results for the quarter ended June
HDFC twins’ shares will be in focus on Wednesday as the last date to buy shares of Housing Development Finance Corp. (HDFC) to benefit from the merger with HDFC Bank Ltd. is July 12. The record date, or the cut-off day set for shareholders, to become eligible for getting shares of HDFC Bank for every share of Housing Development Finance Corp. held by them is July 13
BofA Securities has downgraded shares of Hero MotoCorp to ‘underperform’ with a price target of Rs 3,250 per share. The brokerage said that the current valuation at 17 times 1-year forward earnings are “not cheap anymore” factoring the risk to market share. It added that the risk-reward ratio is rather decent in rival Eicher Motors Ltd
“Nifty overall trend remained bullish on July 11 as it sustained above the near-term moving average. The RSI indicated a bearish crossover, suggesting a potential decline in the market. There is a support level at 194,00/19,300, which might prevent further downside movement. On the upside, there is a resistance level at 19,550, which could potentially limit upward movement in the market,” said Rupak De, Senior Technical analyst at LKP Securities
“Bank Nifty is facing a strong resistance zone at 45,200. At present, the index is trading near a crucial support zone of 44,800-44,750. If this support zone is breached, it is likely to lead to further downside movement towards the 20-day moving average (20DMA), positioned at the 44,500-44,000 range. It has been trading within a broad range of 44,500-45,500. In such a range-bound scenario, it is advisable for traders to utilize opportunities presented by both the upside and downside movements," said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position