“With the results season gaining pace, this week will see significant earnings reports from heavyweight companies, which are likely to set the tone for the markets. Overall, we expect the momentum to continue with intermittent minor declines. Financial space will remain in focus on the expectation of good results from other BFSI heavyweights,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Financial Services
“The sharp surge in the banking index after a pause in the IT pack reaffirms our bullish view and we are eyeing Nifty to gradually inch towards a new milestone i.e. 20,000 mark,” said Ajit Mishra, SVP - Technical Research, Religare Broking. ICICI Prudential, HDFC Bank, LTIMindtree, Poonawalla Fincorp among stocks to watch on Tuesday
HDFC Bank on Monday reported a 30% YoY rise in standalone net profit at Rs 11,951.70 crore for the June quarter compared with Rs 9,196 crore in the corresponding quarter last year. The standalone net interest income (NII) for the quarter came in at Rs 23,599 crore, up 21.1% over 19,481 crore in the year-ago quarter. Core net interest margin (NIM) was at 4.1% on total assets, and 4.3% based on interest earnings assets
LTIMindtree Ltd on Monday reported a 4.1% YoY rise in net profit at Rs 1,152.30 crore for the June quarter compared with Rs 1,106.50 crore in the corresponding quarter last year. Revenue for the quarter rose 13.8% YoY to Rs 8,702.10 crore from Rs 7,644.20 crore in the same quarter last year. In constant currency terms, sales grew 8.2% YoY
Shares of Poonawalla Fincorp will be in focus as the stock will trade ex-dividend on Tuesday. The company had announced a final dividend of Rs 2 per equity share
L&T Technology shares will be in focus as the company is scheduled to report its Q1FY24 earnings today (July 18
Shares of ICICI Prudential will be in focus as the company will report its Q1FY24 result on Tuesday, July 18, 2023
Aurum Proptech, Bharat Bijlee, CIEINDIA, Ganesh Housing, Heidelberg Cement, HICS Cements, Himadri Special, ICICI Lombard, ICICI Prudential Life Insurance, Kiran Syntex, L&T Technology, Morarka Finance, Mudra Financial, Polycab India, Rajkamal Synthetics, Sheetal Cool Products, Som Datt Finance, Suraj Products, Vivanta Industries
"Having moved decisively above the resistance of 19,500 levels recently, Nifty is expected to reach towards the next upper trajectories of 19,800 levels (1.382% Fibonacci projection) and the psychological 20,000 mark in the near term. Important support for trend reversal is placed at 19500 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty has broken out of a falling channel indicating that the consolidation phase is over and it is likely to witness a sharp surge over the next few trading sessions. On the upside, we expect it to target levels of 46,500 in the short term. Crucial support on the downside is placed at 44,700," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
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