Stocks to watch- Adani Green Energy, Adani Ports, Reliance Capital, Tata Power
Stocks in Focus: GIFT Nifty traded at 19,506.5 up 25.5 points or 0.13%, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously on Wednesday, the NSE Nifty 50 added 36.80 points or 0.03% to settle at 19,443.50, while the BSE Sensex gained 33.21 points to 64,975.61.
“NIFTY closed with a gain of 37 points at 19,444, while Sensex increased by 46 points to reach 64,989. showing a positive trend as investors eagerly anticipated Fed Chairman Jerome Powell’s upcoming speech. While Bank Nifty underperformed with a 0.18% drop to 43,659, the Realty and Pharma Indices shone, both exceeding a 1% gain. This suggests a favorable short-term outlook for Nifty, contingent on the confirmation of strength above the critical 19707 mark, with strong support at 19,225. The market’s positive sentiment is reinforced by Nifty’s 21 DMA at 19,408 and 50 DMA at 19,564, with the 200 DMA at 18665,” said Prashanth …
Stocks to watch- TCS, Tata Motors, Larsen & Toubro, BHEL
Stocks in Focus: GIFT Nifty traded flat at 19,607, up marginally 0.01%, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. The NSE Nifty 50 gained 0.56% to settle at 19,545.75, while the BSE Sensex added as much as 405.53 points to 65,631.57.
“The positive signal from the PMI data and the correction in the crude price boosted the market sentiment. Reduction in FIIs selling rebound sectors like bank and IT shares today. While regarding RBI policy, positively, the market expects the interest rate to be hold-on as external demand outlook indicates muted trend fearing disinflationary trend in the future,” said Vinod Nair, Head of Research at Geojit Financial Services.
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TCS
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Stocks To Watch- Reliance Industries, Aurobindo Pharma, ONGC, Bajaj Consumer, Bank of Baroda
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 22.50 points or 0.09% at 24,406 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 250.50 points or 1.04% higher to settle at 24,367.50, while the BSE Sensex rose 819.69 points or 1.04% to close at 79,705.91.
Stocks to watch on August 12, 2024
Reliance Industries
Reliance Industries, India’s largest conglomerate, recently made news for a significant workforce reduction. A report by The Economic Times says that RIL let go of 42,000 employees in the fiscal year 2023-24, reducing its total workforce by 11% compared to the previous year. This big cut, especially in the company’s…
Rating- add – NMDC- Optimistic outlook for FY25
NMDC’s Q2FY24 EBITDA fell short of our expectations, primarily driven by lower realisations attributed to the increased volume contribution from Karnataka. Despite strong demand, alleviation of evacuation constraints resulted in a 25% y-o-y volume growth in in the first seven months of fiscal year 2024 (7MFY24). Consequently, we are revising our volume estimates upward by 5%/3% for FY2024/ 25E (estimates). In the short term, there is an upside risk to domestic iron ore prices, influenced by buoyant international iron ore prices. However, this may be partially offset by downward pressure on domestic steel prices. We revised our FV to Rs180 based on the rollover and improved earnings outlook.
Ebitda miss on lower realisations
NMDC posted revenues of Rs 4,010 crore (+21% y-o-y, -26% q-o-q), Ebitda of Rs 1,190 crore (+40% y-o-y, -40% q-o-q), and net profit of Rs 1,030 crore (+16% y-o-y, -38% q-o-q), falling short of our estimates of Rs 4,400 crore, Rs 1,350 crore, and R…