Tag: hindustan copper

Categories
Daily Market Feed Post Market Analysis

Muhurat Trading Gains Lost! – Post-Market Analysis

post-market analysis | marketfeed

NIFTY started the day at 19,486 with a gap-down of 38 points. After opening, the index further fell nearly 80 points with volatility. Then, it consolidated throughout the day in a 25-point upward channel. Nifty closed at 19,443, down by 82 points or 0.42%.

Nifty chart November 13 - post-market analysis | marketfeed

BANK NIFTY (BNF) started the day at 43,915 with a gap-down of 81.5 points. Similar to Nifty, BNF fell more than 200 points with wild moves. Then, the index rebounded 200 points in just 20-25 mins and consolidated for the rest of the day. BNF closed at 43,891, down by 105 points or 0.24%.

All indices except Nifty PSU Bank (+2.64%) and Nifty Metal (+0.37%) closed in the red.

Major Asian markets closed in the green. Germany’s DAX and UK’s FTSE100 are currently trading in the green, while France’s CAC40 is trading in the red.

Today’s Moves

Coal India (+5.29%) was NIFTY50’s top gainer. Jefferies India and other brokerages have upgraded the stock and raised their target prices on the back of strong Q2 earnings by the state-run miner.

BSE (+9.2%) hit a 52-week high of ₹2,350 after the stock exchange reported a 4x jump in its net profit to ₹118.4 crore in Q2.

Hindustan Copper (+8.07%) surged after the company’s net profit more than doubled in Q2.

SBI Life (-2.2%) was NIFTY50’s top loser. 

Glenmark Pharma (-5.03%) fell sharply after the company posted a loss in Q2 on exceptional legal costs.

Markets Ahead

On the occasion of Muhurat Trading, the Indian markets opened with a gap up (above major resistance levels). However, today’s opening brought the indices back into their original zones, suggesting the presence of selling pressure in the markets.

Nifty: Keep an eye on the resistance levels at 19,460 and 19,500. If there’s a breakout, we might see the index aiming for 19,540 and 19,600. On the other hand, the critical support for Nifty is at 19,400. If it falls below this level, potential targets could be 19,360 and 19,330.

Bank Nifty: The resistance levels to keep an eye on are at 43,900 and 44,000. A breakout might set a target at 44,000 and a larger one at 44,500. On the downside, the key support levels are at 43,800 and 43,700. If there’s a breakdown, potential targets could be 43,500 and 43,300.

Also, watch out for this channel in BNF! 

Bank Nifty chart November 13 - post-market analysis | marketfeed

The Indian market continues to consolidate due to various factors: the sudden slowdown in Industrial Production (IIP) growth in Sept 2023, and the declining manufacturing PMI mirror global patterns influenced by rising interest rates and inflation. The weakness in the Indian Rupee has made FIIs adopt a cautious stance. However, the market’s potential decline is limited by robust Q2 earnings, economic stability, and consistent DII investments.

The markets will be closed tomorrow (Nov 14) on account of Diwali-Balipratipada! marketfeed wishes all our readers a Happy Diwali! 🪔

Please join The Stock Market Show at 7 PM on our YouTube channel.

Categories
Daily Market Feed Post Market Analysis

Key Indices Mimic Previous Movements Ahead of Expiry Day! – Post-Market Analysis

NIFTY started the day at 19,369 with a gap-down of 65 points. The index started moving up after the initial red candles and tried to break the previous day’s high with the help of a 3 PM move. Even though there were no follow-up candles, the index closed in slight green. Nifty closed at 19,465, up by 30 points or 0.16% 

Nifty chart - Aug 16 - post-market analysis

BANK NIFTY (BNF) started the day at 43,726 with a gap-down of 364 points. The index struggled a lot to recover as it faced strong rejection from the 44k zone. BNF closed at 43,946, down by 144 points or 0.33%. 

Bank Nifty chart - Aug 16 - post-market analysis

All other indices except Nifty Metal (-0.94%) closed in green. Nifty Media (+1.2%) and Nifty Realty (+1.1%) moved up the most. 

Major Asian markets closed in the red. European markets are currently trading flat-to-red.

Today’s Moves

Apollo Hospitals (+2.51%) was NIFTY50’s top gainer. The pharma company’s MD gave forward-looking commentary on its business on Monday.

Cochin Shipyard (+17.4%) hit a new 52-week high of ₹822 after posting strong Q1 results.

JBM Auto (+10.13%) jumped after the Union Cabinet approved ‘PM-eBus Sewa’ for boosting city bus operations.

Tata Steel (-1.86%) was NIFTY50’s top loser.

Hindustan Copper (-6.23%) fell sharply after the company posted weak numbers for Q1 FY24.

Markets Ahead

Key indices replicate Monday’s movements! After the opening red candle, both Nifty and Bank Nifty started moving up, similar to Monday.

Try to draw a trendline connecting tomorrow’s first two swing low points, and if this trendline is broken, it might bring a proper movement (if the initial trend is to the upside). You can also use a 200 exponential moving average (EMA) in the 5 mins chart to get more clarity.

Major weakness is being built up as both Nifty and Bank Nifty create lower lows and lower highs for more than a week.

I will be watching Nifty’s 19,500 (resistance), 19,360, 330, 300 (immediate support) and 19,250 (major support) tomorrow.

In Bank Nifty, let’s mark 44,100,44,200 (resistances) and 44,600 and 44,540 as major levels for expiry day.

Inflation (CPI) numbers have been a supporting factor for the Indian market for many months. Now, recently released above-expected inflation numbers are bringing more weakness to our market

What levels are you watching out for expiry tomorrow? Let us know in the comments section of the marketfeed app.

Don’t forget to tune into The Stock Market Show at 7 PM on our YouTube channel!

Categories
Market News Top 10 News

Asian Paints’ Profit Rises 45% YoY to Rs 1,234Cr in Q4 – Top Indian Market Updates

Here are some of the major updates that could move the markets tomorrow:

Asian Paints Q4 Results: Net profit jumps 45% YoY to Rs 1,234 crore

Asian Paints reported a 45% YoY increase in consolidated net profit to Rs 1,234 crore for Q4 FY23. Its operating revenue rose 11% YoY to Rs 8,787 crore during the same quarter. EBITDA also rose 29% YoY to Rs 1,865 crore. The company’s board has recommended a final dividend of Rs 21.25 per equity share.

Read more here.

IT dept conducts raids at Mankind Pharma’s office in New Delhi

According to a CNBC-TV18 report, India’s Income Tax department has conducted searches at Mankind Pharma’s office in New Delhi over allegations of tax evasion. Company premises and plants in Delhi and nearby locations are being covered and documents are being checked apart from the questioning of company executives as part of the searches launched early in the morning. 

Read more here.

Eicher Motors Q4 Results: Net profit jumps 48% YoY to Rs 905 crore

Eicher Motors reported a 48% YoY increase in consolidated net profit to Rs 905 crore for Q4 FY23. Its operating revenue rose 19% YoY to Rs 3,804 crore during the same quarter. EBITDA stood at Rs 934 crore, up 235 YoY from Q4 FY22. The company’s board has recommended a final dividend of Rs 37 per equity share.

Read more here.

SpiceJet to revive grounded fleet with $50 million ECLGS funds

SpiceJet has initiated the process of reviving its grounded fleet with the $50 million funds received by the airline from the government’s Emergency Credit Line Guarantee Scheme (ECLGS) and internal cash accruals. The company is actively engaging with investors to raise funds and put itself back on track. In April, Credit Suisse moved the Supreme Court, filing a contempt petition against SpiceJet over allegations that the airline had failed to pay dues that were part of a settlement.

Read more here.

South Indian Bank Q4 Results: Net profit jumps 22.7% YoY to Rs 333.9 crore

South Indian Bank reported a 22.7% YoY increase in net profit to Rs 333.9 crore for Q4 FY23. The bank’s Net Interest Income (NII) stood at Rs 857 crore, up 43.4% YoY. Its gross NPA stood at 5.14%, while net NPA is at 1.86%. The bank’s board has recommended a final dividend of Rs 0.3 per equity share.

Read more here.

L&T plans to exit asset-heavy businesses

Larsen & Toubro Ltd plans to exit asset-heavy businesses to eliminate losses. The company sees opportunities in renewable power, particularly in Saudi Arabia, where solar projects are gaining momentum. This will generate cash and improve working capital efficiency. The Middle East as a whole is investing in renewable energy, providing further potential for growth.

Read more here.

Dr Lal Pathabs Q4 Results: Net profit falls 7.5% YoY to Rs 56.7 crore

Dr Lal Pathlabs reported a 7.5% YoY decline in consolidated net profit to Rs 56.7 crore for Q4 FY23. However, its operating revenue rose 1.13% YoY to Rs 491 crore during the same quarter. EBITDA was also down 4.5% YoY to Rs 116 crore. The company’s board has approved a final dividend of Rs 6 per equity share.

Read more here.

ABB India expands production footprint of drives portfolio in India

​​ABB India is expanding its production capacity at the Peenya factory in Bengaluru to include a new line for variable speed drive modules. This expansion will enable the production of drives ranging from 75 kW to 250 kW, serving various industrial sectors. ABB’s variable speed drives are used to optimize energy efficiency and performance by controlling the speed of electric motors.

Read more here.

Hindustan Copper to consider raising funds via QIP, NCD issue

Hindustan Copper Ltd plans to raise funds through a qualified institutional placement (QIP) issue. The board of directors will meet on May 19 to consider issuing equity shares through QIP, with a total value of 97 million shares. They will also seek approval to offer non-convertible debentures or bonds worth Rs 500 crore through private placement. 

Read more here.

Aditya Birla Capital to raise Rs 3,000 crore via equity, debt funding

Aditya Birla Capital’s board has approved plans to raise Rs 3,000 crore through a combination of equity and debt routes in one or multiple tranches. The funds will be raised through public or private offerings (including qualified institutional placements) as permitted by applicable laws. The funds will be utilised for meeting funding requirements and growth objectives of the company.

Read more here.

Three Adani firms to consider raising up to Rs 40,000 crore: Report

As per a Bloomberg report, three Adani Group companies are considering fundraising of up to $5 billion (~Rs 40,000 crore). Adani Enterprises Ltd, Adani Green Energy Ltd, and Adani Transmission Ltd may raise between $3 billion and $5 billion to boost their businesses. The boards of the three firms are meeting on Saturday to consider raising funds via the sale of shares or other securities.

Read more here.

ONGC discovers oil, gas in Arabian Sea blocks

ONGC has announced the discovery of two oil and gas reserves, named ‘Amrit’ and ‘Moonga,’ in the Mumbai offshore region. The company had acquired the blocks under the Open Acreage Licensing Policy (OALP). Based on the available data, ONGC will determine if additional wells need to be drilled for further exploration and appraisal.

Read more here.