“Market is likely to consolidate given no clarity given by the US Fed on its future course of action, leading to mixed global cues. Overall strength continues in the market, with the likelihood of consolidation at higher levels,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Financial Services
“We are in a consolidation phase so it is normal to see volatile swings. The key is to manage risk until the trend resumes,” said Ajit Mishra, SVP - Technical Research, Religare Broking. Sun Pharma, Tata Motors, ACC, Adani Enterprises, IHCL, RITES among stocks to watch on Friday
Adani Group-owned ACC Ltd on Thursday posted Q1FY24 profit at Rs 466.10 crore, up 105% in comparison to Rs 227.32 crore, beating estimates. It posted revenue from operations at Rs 5,201.11 crore, up 16.4% as against Rs 4,468.42 crore during the first quarter of FY23
Dr Lal PathLabs on Thursday posted Q1FY24 profit at Rs 82.60 crore, up 43.2% YoY as against Rs 57.70 crore during the first quarter of FY23. It posted revenue from operations at Rs 541 crore, up 7.6% in comparison to Rs 502.70 crore during the corresponding quarter of last year
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The Indian Hotels Company Limited on Thursday released the results for the first quarter of FY24 and said its net profit was up 30.8% at Rs 222.4 crore from Rs 170.1 crore in the corresponding quarter of last year. The revenue too surged 15.8% at Rs 1,466.4 crore in Q1FY24 against Rs 1,266.1 crore in Q1FY23
Barclays Plc, Deutsche Bank AG, and Standard Chartered Plc are in discussions with Adani Group to lend between $600 million and $750 million collectively to refinance the debt taken to fund its purchase of Ambuja Cements Ltd., said a report by Bloomberg on Thursday
Pharma major Cipla's promoters on Thursday clarified that it is not trying to sell a portion of their total holding in the company to major private equity players. The clarification came after reports surfaced that company promoters are in talks with some major PE firms and have hired an investment bank to advise it on the deal with prospective buyers -- Blackstone, Baring Asia, among others
Indian Oil Corporation, Marico, Supreme Industries, United Breweries, Mahindra & Mahindra Financial Services, Star Health & Allied Insurance Company, Bank Of India, Motherson Sumi Wiring India, Exide Industries, NLC India, Apar Industries, RITES, Route Mobile Ltd, KFin Technologies, eMudhra, Swaraj Engines, Fino Payments Bank, Panama Petrochem, Kokuyo Camlin, Vimta Labs, and more
Gandhi Special Tubes, Gloster, Godrej Agrovet, GRP, ICRA, Indian Energy Exchange, IndiGo Paints, IOCL, Joindre Capital, Jtekt India, Kaira Can Co, Kaycee Industries, Mangalam Cement, Mukand, Mukesh Babu, Info Edge, Nelcast, Nesco, Quick Heal Technologies, Rane Holdings, Sobha, Sun Pharma, Tata Motors, TCI Express, Union Bank of India, Zydus Lifesciences are some other stocks that will trade ex-dividend on Friday
"The short-term trend of Nifty seems to have reversed down and more weakness could be in store for the coming sessions. There is a possibility of important cluster support for the market around 19,500-19,450 levels. Any rise from here could find strong resistance at 19,850 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty also witnessed a correction from the resistance zone 46,300 – 46,400 where the previous swing highs were placed. The daily momentum indicator has triggered a fresh negative crossover, which is a sell signal. Thus, until the bank Nifty does not manage to sustain above this zone, we can expect it to slip down to 45,330 – 45,300 levels where support in the form of the 20-day moving average is placed," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
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