#Nifty continues to form higher tops and higher bottoms on the daily charts and has also breached the 100-DEMA, which is placed near 23,500. We maintain a bullish view on the index. Going forward, NIFTY could test its 200-DEMA, which is placed near 23,900.
On the downside, the 23,400–23,300 zone will act as an important support area. Long positions should be maintained with a protective stop-loss below 23,300.
#Nifty View by #ManasJaiswal
SEBI Registration Number: INH100001625
Call: 9935027113
#MayAutoSalesUpdate | Mahindra & Mahindra total auto sales grew 16.7% at 71,682 units vs 61,415 units (YoY)
👉Total tractor sales up 9% at 37,109 units vs 34,126 units (YoY)
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IRCTC reports #Q4 earnings
👉Net profit up 1.9% at ₹284.2 cr vs ₹278.8 cr (YoY)
👉Revenue up 19.7% at ₹1,154.8 cr vs ₹965 cr (YoY)
👉EBITDA up 11.6% at ₹362.4 cr vs ₹324.6 cr (YoY)
👉Margin at 31.4% vs 33.6% (YoY)
👉 Board recommends a final dividend of ₹4/sh
Geojit on NCC: All-time high order book
▪ In Q1FY24, order inflows increased by 83% YoY, taking the total order book to an all time high of Rs54,110cr (3.8x TTM revenue), providing strong revenue visibility in the coming years.
Nomura on Bajaj Finserv
Upgrade To Buy
Target Raised To Rs 1,815h
Bajaj Fin Contributes 80% Value In Overall SOTP Of Bajaj Finserv
For Other Subsidiaries, Value Co At 2x FY25F EV, In-line With ICICI Pru Life
Valns Lower Than HDFC Life & SBI Life Due To Low VNB Margin Profile
Somany Ceramics reports Q4 earnings.
◼️Net profit up 41.5% at Rs 24.3 cr Vs Rs 17.2 cr (YoY)
◼️Revenue up 10.1% at Rs 679.2 cr Vs Rs 616.8 cr (YoY)
◼️EBITDA up 20.4% at Rs 61 cr Vs Rs 50.7 cr (YoY)
◼️Margin at 9% Vs 8.2% (YoY)
BAJAJ CONSUMER CARE: Q4
SL NET PROFIT 410M RUPEES VS 383M (YOY); 337M (QOQ)
REVENUE 2.44B RUPEES VS 2.19B (YOY); 2.28B (QOQ)
EBITDA 421M RUPEES VS 373M (YOY)
EBITDA MARGIN 17.21% VS 17% (YOY)
CO RECOMMENDED FINAL DIVIDEND OF 5 RUPEES PER SHARE
#ZeeEnt, Indian Performing Right Society (#IPRS) settle disputes & claims. IPRS insolvency petition is withdrawn
Alert: Zee Ent & IPRS entered settlement agreement to end all disputes & claims on March 6, 2023
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Brokerages on #Zomato Q3FY23
Jefferies Buy Rating, Target At 100/Sh
GS Buy Rating, Target At 100/Sh
MS Overweight Rating, Target At 82/Sh
CLSA Buy Rating, Target At 70/Sh
Nomura Reduce Rating, Target At 50/Sh