Adani Green Energy Ltd, Marico Ltd, DLF, TVS Motor Company Ltd, Emkay Global Financial Services, Nippon Life India Asset Management Ltd (NAM-INDIA), SIS Ltd and Vimta Labs are among companies that will release their Q2 earnings for July-September 2023 today (October 30)
Cello World IPO is set to open for subscription today (October 30) and will close on November 1. The issue comes at a price band of Rs 617-648 apiece. Cello World shares will list on the BSE and NSE, with a tentative listing date of Nov 9
Looking at the valuation at the upper price band of Rs 648 and considering annualized earnings and fully diluted post-IPO paid-up capital, the issue presents a Market Cap of Rs 13,753 crore with a P/E of 41.51x on a consolidated basis. This valuation appears reasonable when considering the expected revenue and profit growth. Although the IPO is entirely Offer for Sale (OFS), which may be a concern for new investors, the company's higher EBITDA/PAT margins and superior Return on Capital Employed (ROCE) compared to its peers suggest strong long-term prospects. Therefore, we recommend investors 'SUBSCRIBE' to the Cello World Ltd IPO with a long-term perspective, as per Mehta Equities Ltd
“Markets ended their 6-day losing streak as Nifty reclaimed the psychological 19,000 mark on the back of broad-based buying support. Despite the strong rebound, we suspect the benchmarks are not out of the woods yet. For markets to remain buoyant, some resolution is needed between the on-going Israel-Hamas war. Technically, confirmation of major strength in Nifty only above the 197,00 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd
“As long as it stays below 19,250, the market may continue to be inclined towards selling on any upward movements. On the downside, a resumption of weakness is expected if the index falls below 18,800. This is because put writers are likely to defend the Nifty with substantial positions at 18,800, with immediate support placed at 19,000," said Rupak De, Senior Technical analyst at LKP Securities
"After a consolidation breakdown on the daily chart, Bank Nifty experienced a 2,000-point correction in a short span of time. The index appeared somewhat oversold, leading to a pullback on Friday. However, the sentiment remains predominantly bearish, and any upward movements may still face selling pressure. On the upper side, 43,000 could serve as a significant resistance level, as call writers have established substantial positions there. Support can be observed at 42,500, where writers have a strong presence,” said Rupak De, Senior Technical analyst at LKP Securities
“Comex Spot Gold has immediate resistance at $1,997, and then $2,012 acts as the next resistance; on the flip side, support is at $1,959. MCX gold December future has support at Rs. 60,525 and the first resistance at Rs. 61,200, and then Rs. 61,600 is the next important resistance,” said Saumil Gandhi, Senior Analyst - Commodities, HDFC Securities
“While indications that Israel intends to launch a ground assault on Gaza might cause further unrest in an area that supplies roughly one-third of the world's crude oil. We believe both sides volatility is likely to be seen in the crude oil price. MCX Crude Oil November Future has immediate resistance at Rs. 7,170, and then Rs. 7,250 acts as the next resistance. The area around Rs. 6820 acts as strong support. NYEMX WTI crude oil has resistance at $88.0 and support at $82.50.,” said Saumil Gandhi, Senior Analyst - Commodities, HDFC Securities
Apple’s special event named ‘Scary Fast’ is set to be held today (October 30) in the US. The event timing in India will be around 5:30 am. The event will reportedly witness the launch of MacBooks and updated models of the 24-inch iMac
Public sector OMCs including BPCL, IOCL and HPCL revise their petrol price and diesel price daily in line with international benchmark prices and forex rates. Petrol and diesel prices remained stable today in major cities