Markets oscillated in a narrow range and ended marginally in the green on Monday amid mixed cues. "Indications are in favor of further consolidation in the index and the recent dip in the US markets is also weighing on the sentiment. It is thus advisable to limit leveraged positions and wait for the resumption of the trend," said Ajit Mishra, SVP- Technical Research, Religare Broking Ltd
With Q1 result season starting this week, share market analysts expect stock-specific action in the market, starting with the technology sector. Monsoon-related stocks are likely to remain in momentum. Titan Company, JSW Steel, Dr Reddy’s, Persistent Systems, Elecon Engineering among stocks to watch on Tuesday
Shares of Dr Reddy’s Laboratories will be in focus on Tuesday as the stock will trade ex-dividend. The company had announced a final dividend of Rs 40 per equity share along with their Q4FY23 results
Shares of Balkrishna Industries will trade ex-dividend on July 11, 2023. The company had announced a final dividend of Rs 4 per equity share along with their Q4FY23 results
Shares of JSW Steel will trade ex-dividend today, July 11, 2023. The company had announced a final dividend of Rs 3.4 per equity share along with their Q4FY23 results
Persistent Systems shares will trade ex-dividend on Tuesday, July 11, 2023. The company had a final dividend of Rs 3 per equity share, and a special dividend of Rs 12 per equity share
Elecon Engineering, PCBL, Plastiblends India, Generic Engineering Construction and Projects, S & T Corporation, Eiko Lifesciences, Excel Realty N Infra, Welcure Drugs & Pharmaceuticals, Sita Enterprises, and others will report the earnings for the quarter ended June
Foxconn said on Monday it is pulling out of a joint venture with Vedanta Ltd, which was set up to make semiconductors from India. "Foxconn has determined it will not move forward on the joint venture with Vedanta," the electronics maker said in a statement, without elaborating on the reasons.
Morgan Stanley downgraded Titan shares to ‘equal-weight’ with a target price of Rs 3,207. The brokerage said that growth will be slow in the July to Sep quarter as it is a period of ‘Adhik Mass’ in the Hindu calendar, which is considered an inauspicious time to purchase jewellery. The slow growth scenarios will continue in the Oct to Dec quarter as well, as another inauspicious season to buy jewellery, ‘Pitrupaksha’, will start from September
“Nifty seems to have been stuck in the trading range of 19,300-19,500. Breakout from this range on either side would decide the direction for the market,” said Nandish Shah - Deputy vice president Retail Research, HDFC Securities
“Bank Nifty is in the process of retracing the rise it witnessed in the last couple of weeks and there are multiple supports in the form of Fibonacci retracement levels around 44,840 – 44,587, which could arrest the downside. The correction is providing an opportunity for an entry and this is a dip that should be bought into," said Jatin Gedia, Technical Research Analyst, 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