Stocks in focus

Sun Pharma, Vodafone Idea, ONGC, M&M, other stocks to watch on May 29, 2023

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stocks in focus today

Positive momentum in markets is likely to continue, and Nifty may touch its previous lifetime high in the coming weeks, according to share market analysts. With the Q4 results season nearing its end, the focus will now shift to macro data, US debt negotiations, and upcoming central bank policy meetings

Market outlook positive

stocks in focus

Recovery in the US markets combined with improved participation from the IT sector has provided the needed trigger to domestic benchmark indices. Sun Pharma, Vodafone Idea, ONGC, and M&M among stocks to watch on Monday

Stocks to watch on
May 26, 2023

sun pharma share price today

Sun Pharma on Friday reported a consolidated net profit of Rs 1,984.47 crore for Q4FY23, compared with a loss of Rs 2,277.25 crore in the same quarter last year. Excluding the exceptional items, the adjusted net profit for Q4FY23 was Rs 2,155.90 crore, up 36.3%. Revenue for the quarter rose 14.27% YoY to Rs 10,725.57 crore

Sun Pharmaceuticals

Mahindra & Mahindra (M&M) on Friday reported a 22% (YoY) rise in standalone net profit at Rs 1,548.97 crore for Q4FY23, compared with Rs 1,268.55 crore in the corresponding quarter last year. Standalone revenue from operations jumped 30.94% YoY to Rs 22,571.37 crore compared to Rs 17,237.76 crore in the same quarter last year

Mahindra & Mahindra

A two-member bench of the National Company Law Appellate Tribunal (NCLAT) on Friday turned down the National Company Law Tribunal (NCLT) order to bourses NSE and BSE to review their approval of the merger between Zee and Sony

Zee Entertainment
Enterprises

Indian state-run oil exploration companies are in talks with Tullow Oil to buy a stake in the London-based firm's block in Kenya. Oil India, along with ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corporation, are talking to Tullow

Oil India, ONGC

Vodafone Idea saw its net loss for Q4FY23 narrowing to Rs 6,419 crore from Rs 7,990 crore in the preceding quarter, owing to a fall in network expenses, finance cost, depreciation, among others. Its revenue from operations fell 1% QoQ to Rs 10,506.5 crore

Vodafone Idea

“The Nifty has been sustaining above a critical moving average, indicating a strong position. The trend is expected to remain positive as long as the index sustains above the support level of 18,400. On the higher end, there is a resistance level at 18,700,” said Rupak De, Senior Technical at LKP Securities

Nifty technical view

“If Bank Nifty manages to sustain above the level of 44,000, it has the potential to experience further upside towards 45,000. The momentum indicator RSI has also confirmed a positive crossover, reinforcing the buy signal. Traders and investors should closely monitor the index for sustained strength above 44,000 and consider the potential for continued upward movement based on the bullish momentum and buying activity observed,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

Bank Nifty view

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

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