“The overall structure of the market remains positive with Nifty attaining new highs at a steady pace. We expect PSU Banks to remain in focus on the expectation of healthy Q1FY24 numbers. With the monsoon deficiency reducing to 10%, agri-related stocks are likely to be in focus,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty placed at all-time highs, still there is no indication of any reversal building up at the higher levels, as per share market analysts. Kansai Nerolac Paints, Tata Motors, Paras Defence, Motilal Oswal among stocks to watch on Tuesday
Shares of Kansai Nerolac Paints will trade ex-bonus on Tuesday. The company had declared a bonus issue of 1:2
Shares of Motilal Oswal Financial Services will trade ex-dividend on Tuesday. The company had declared a final dividend of Rs 3 per equity share with its Q4FY23 results
Federal Bank has reported a strong business with total deposits and gross advances rising 21% each during the first quarter of financial year 2023-24. It posted total deposits at Rs 2,22,513 crore at the end of the first quarter as against Rs 1,83,355 crore during the same quarter last year. The gross advances for the Q1 stood at Rs 1,86,593 crore in comparison to Rs 1,54,392 crore in the same quarter of the previous year
Paras Aerospace Private Limited, a subsidiary of Paras Defence and Space Technologies, announced that it has bagged a contract for procurement of 400 units of agri-drones for IFFCO Nano Fertilisers, including two years annual maintenance contract (AMC). The order is worth approximately Rs 42.2 crore
Tata Motors will hike prices of its passenger vehicles with effect from July 17. The company will increase prices of its passenger vehicles (including EVs) by an average of 0.6% across models and variants. It will offer price protection to bookings made up to July 16, 2023, and deliveries up to July 31, 2023
“Nifty continues its upward movement with bulls at the helm despite selling pressure at higher levels. The trend remains bullish as the index sustained above the critical moving average. The current bullish trend is supported by a bullish crossover in the RSI momentum indicator. The support on the lower end is placed at 19,200; while resistance is visible at the 19,450-19,500 zone,” said Rupak De, Senior Technical analyst at LKP Securities
"Bank Nifty has witnessed follow-through buying interest and is hitting new all-time highs along with the Nifty which is a bullish sign. The daily Bollinger bands are expanding and the prices are moving along the upper band indicating that the positive momentum is likely to continue. Both price and momentum indicators are suggesting a further upside in the Bank Nifty. On the upside we expect it to target levels of 45,500," said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
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