News Shots
Rainbow Children’s Medicare will make its debut on the bourses on May 10. The issue price has been fixed at Rs 542 per share.
Cosmo Films recorded a 45.3 percent year-on-year growth in consolidated profit at Rs 108.2 crore in the quarter ended March 2022, driven by higher operating income and topline. Revenue grew by 22 percent to Rs 821 crore during the same period.
HCL Technologies announced a strategic partnership with Syniti and will adopt the Syniti Knowledge Platform (SKP) as its strategic data migration platform to provide customers with improved data management strategy and higher quality data.
KEI Industries clocked a 35 percent year-on-year growth in consolidated profit at Rs 116 crore in the quarter ended March 2022, led by other income, operating income and robust topline. Revenue during the quarter increased by 44 percent to Rs 1,792 crore YoY.
Gujarat Narmada Valley Fertilizers & Chemicals more than doubled its consolidated profit to Rs 643 crore in Q4FY22, up from Rs 310.5 crore in the same period last year, due to strong operating income and topline. Revenue grew by 60 percent to Rs 2,772 crore compared to the year-ago period.
VST Tillers and Tractors registered a 71 percent year-on-year growth in profit at Rs 22.1 crore in the quarter ended March 2022 on the back of 285 percent YoY growth in EBITDA at Rs 30.15 crore. Revenue grew by 12 percent to Rs 218.4 crore during the same period.
What to expect?
NIFTY opened with a huge gap-down at 16,254, took support at 16,150 and moved higher to consolidate for a while before it broke out. 16,400 offered a strong resistance. There was a bounce-back from 16,250 and the index closed at 16,301, down by 108 points or 0.67%.
BANK NIFTY opened with a gap-down at 34,225. There was a strong support and BNF moved up. 34,500 offered resistance and BNF closed the day at 34,275, down by 316 points or 0.91%.
IT closed flat.
The US markets fell again yesterday. The European markets also fell heavily..
The Asian markets are trading lower. The U.S. Futures and the European futures are trading slightly in the green.
SGX NIFTY is trading at 16,200 indicating a gap-down opening.
NIFTY has supports at 16,250, 16,250, 16,150, 16,000 and 15,850. We can expect resistances at 16,400, 16,450, 16,660, 16,880 and 16,950.
BANK NIFTY has supports at 34,000, 33,900 and 33,500. Resistances are at 34,400, 34,800, 35,000 and 35,250.
NIFTY has the highest call OI build-up at 17,000. The highest put OI build-up is at 16,000.
BANK NIFTY has the highest call OI build-up at 36,000 and the largest put OI build-up is at 34,000.
INDIA VIX is at 22.
Foreign Institutional Investors net sold shares worth Rs 3,400 crores. Domestic Institutional Investors net bought shares worth Rs 3,000 crores.
Rupee has fallen to the lowest level. This will affect our forex reserves. April CPI will be out on Thursday and the expectations are around 7.5%. This will be a key event deciding the market direction. US CPI data will be out tomorrow in the evening.
As we mentioned in yesterday’s report, Infosys took support at 1530 and the stock shot up. Let us watch the stock closely.
There was a fear in the market as to what Putin would say in his victory day speech. He justified the war but did not give any hint to the next steps by Russia. But we have enough negativity in the market. The West fell heavily again.
Crude oil prices have come down significantly though it is staying above $100. Take a look at US VIX which is at 34! Volatility is guaranteed!
I will be watching 16,250 on the downside and 16,400 on the upside.
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