The retail chain operator faces several hurdles, including evolving customer preferences, disruptions in transport logistics, and intensifying competition, analysts at domestic brokerage Nuvama said.
Nifty gave up early gains on Aug 06 to end in the negative. In the process it formed a pattern known as Bearish side by side black candle.
The uptick in the stock price came after the company posted a strong set of numbers in the June quarter. The board also announced a dividend and share buyback, which further fuelled the stock rally.
The share price rose after the company reported a strong set of numbers in the June quarter of financial year 2025 (Q1FY25).
The uptick came after Angel One announced a strong set of numbers in its July business update.
The uptick in the share price came after Patel Engineering announced that the Office of the Executive Engineer, Govt Maharashtra has awarded the company, along with its JV, a Rs 317.60 crore contract.
The Nifty50 surged 1.35 per cent, adding 327 points to hit an intraday high of 24,382.60, while the BSE Sensex gained 1,100 points, or 1.38 per cent, hitting an intraday peak of 79,852.08.
Shakti Pumps, Pokarna, Gokul Agro Resources, Foseco India and GHCL Textiles from the BSE Smallcap index hit their respective record highs, rallied by up 17% in otherwise a weak market.
The inspection at the Hyderabad facility took place between July 25, 2024 and August 02, 2024.
In July 2024, the Indian Energy Exchange (IEX) set a new record with the highest total trading volume, including certificates, reaching 13,250 MU. The figure marks an approximately 56% increase Y-o-Y.
At 6:41 AM, GIFT Nifty futures were down 369 points, trading at 24,342.50, suggesting a gap-down start.
There have been insignificant alterations to the price action for Nifty, though the overall market breadth turned a bit exhaustive, indicating a sign of caution.
IEX witnessed a substantial increase in price in the last couple of trading sessions from the 21 DEMA on the daily chart.
Stock Market LIVE on Friday, August 2, 2024: BSE Sensex opened nearly 700 points lower at 81,158.99 levels while Nifty50 plunged 220 points to 24,789.
The uptick in stock price came after the company announced that it has secured Letter of Intent (LoI) for an order worth Rs 558.16 crore from Department of Agriculture, Uttar Pradesh.
The uptick in the share price came on the back of strong June quarter (Q1FY25) results.
The uptick in the stock price came after the company announced that it has secured orders worth over Rs 53 crore.
The rise in the share price came after the company announced a strong set of June quarter results (Q1FY25).
On the bourses, Infosys's stock witnessed a decline, falling 1.32% to an intraday low of Rs 1,828.10 per share on the NSE. In comparison, the Nifty IT index dropped 1.64% to a low of 40,038.25 levels.
The company is positioned to achieve revenue growth exceeding 1.5X that of the underlying industry growth, while maintaining robust EBITDA margins, driven by promising prospects in the 2W and PV.