With a healthy order book, company targets 40-50 per cent growth in revenues in FY24.
While the trend looks fragile, key supports are continuing to bolster the up move
OMC stocks are displaying bearish sentiment, if fails to hold key supports then could enter medium-term selling bias.
NIFTY50 index is consolidating just below the 20,000 mark after rallying 14 per cent from March 23 lows as earnings expansion catch up
Bajaj-Auto, HIndalco, Dr. Reddy's Laboratories, NTPC, and IDFC First Bank may rally up to 15 per cent, show technical charts
Hindustan Unilever to hit new 52-week low if the support of Rs 2,520 is breached
Nifty Realty index to rise up to 5 per cent in the coming weeks, post delivering bullish breakout on the charts.
In July, the S&P BSE Smallcap index surged 7.4 per cent as compared to 5.7 per cent rally in the Midcap index, and a modest 2.8 per cent gain in the Sensex.
So far this year, NTPC has soared 36 per cent, Torrent Power zoomed 39 per cent and Power Grid Corporation of India advanced 21 per cent. Overall trend in these power stocks continues to remain sturdy
Barring, Pfizer, Gland Pharma, and Laurus Labs, all other constituents of Nifty Pharm Index trade over the 200-day simple moving average (SMA),
The company has bagged a Mine Development and Operation (MD) project for an estimated value of Rs 30,438 crore from SAIL, and the duration of the contract is 28 years.
Trend in Bajaj twins remains sluggish and may slide in bear's grip if key levels are breached
Technical charts of M&M shows weakness, while RBL Bank continues to remain resilient.
The FMCG index has breached previous reversal support, igniting fear of caution among retail traders. This move emerged after the index reached a new historic peak a few sessions ago.
While the medium-term outlook remains highly optimistic, the stock may remain choppy in the near-term
ICICI Bank remains strong on charts post delivering Q1 results last week
Closing Bell on July 21, 2023: The benchmarks snapped their 6-day winning run. Among sectoral indices, the Nifty IT index shed 4 per cent, followed by the Nifty FMCG index (down 1 per cent)
The overall trend of the stock has been sideways since the end of 2021. However, striking a new all-time high could spark the next rise in the stock.
New-age companies may rise up to 29 per cent in the forthcoming seasons as market sentiment improves amid record-breaking run in benchmark indies
Listed NBFC stocks are currently facing selling pressure at higher levels, show technical charts