BUSINESS
Kfin Technologies declines 2% after June quarter earnings
Total income witnessed a 9.11 percent growth year on year (YoY) at Rs 186.819 crore in Q1FY24 vs Rs. Rs 171.213 crore in the same quarter of last year. Net profit grew by 15.89 percent YoY at Rs 43.375 crore in Q1FY24.
BUSINESS
Apollo APT sets sights on 25% ROCE with robust growth strategy
Apollo APL charts an ambitious course towards accelerated growth with a 2.86 lakh tons capacity expansion plan. The company eyes new greenfield plants in key regions, backed by a hefty INR 500 crore capex funded through equity infusion and internal cash flows. Their aggressive pricing strategy aims to gain market share while maintaining a debt-free stance.
BUSINESS
F&O Manual | Bearish momentum builds as Nifty hovers below 19,600
On July 28, Indian indices were subdued due to mixed global cues, with Nifty trading below 19,600. Bears dominated the day, causing unease among bulls. Weakness was attributed to overbought conditions, while key indices showed sluggishness during the week.
BUSINESS
F&O Manual |Indian benchmark indices open higher after Fed's rate hike; Trade flat amid expiry volatility
Indian benchmark indices start on a positive note after the Federal Reserve's interest rate hike, but mid-morning sees gains erased and flat trading. Analysts predict further consolidation before a significant upward trend.
BUSINESS
Derivative Outlook | What should be the options strategy for ACC ahead of the Q1 results?
The broader trend in the cement sector remains positive, price action riding along the overall bullish sentiment. While the key benchmark indices underwent tremendous volatility during this phase, shares of UltraTech Cement, ACC, and Orient Cement were formulating accumulation and laying a significant base for the upward rallies
BUSINESS
Syngene International Q1FY24: Net profit up 26%, revenue surges 25.4%
The first quarter revenue from operations rose 25.4 percent year-on-year (YoY) to Rs 808.1 crore, compared to Rs 644.5 crore in the corresponding period of last fiscal.
BUSINESS
F&O Manual | Nifty keeps up rally with heavy put writing; strong support at 19,500
Bank Nifty saw a volatile session majorly oscillating within 150 points range. The option data showed that the 45,850-46000 range was the battle zone for the index.
BUSINESS
Amber Enterprises trades 3% lower on muted Q1 earnings
The company reported revenue from operations of Rs 1,702 crore in June 2023, down 7 percent from Rs. 1,826 crore in June 2022.
BUSINESS
Mahindra Logistics declines 5% on reporting Rs 8.30-crore loss in Q1
The quarter ended June 30, 2023, saw Mahindra Logistics report a net loss of Rs 8.30 crore, compared to a net profit of Rs 13.64 crore in the same period last year. Despite a 7.78 percent YoY rise in revenue, the supply chain management segment experienced a significant 97 percent YoY profit decline. Analysts attribute the muted quarter to slowing network expansion in e-commerce and consumer markets.
BUSINESS
ITC after hotels demerger: Check out derivatives outlook on the stock
ITC shares suffered a sharp decline as investors disliked the company's decision not to fully split its hotel business and retain 40 percent of the new entity. Market participants were put off because only 60 percent will be distributed to shareholders
BUSINESS
Derivatives outlook | What should be option strategy in Bajaj Auto, Tata Motors ahead of Q1 results?
The auto sector's earnings season has begun, with Bajaj Auto, TVS Motors, and Tata Motors announcing their financial results. TVS Motor reported a 46 percent growth in standalone net profit at Rs 468 crore, while Bajaj Auto and Tata Motors' results are awaited. The Nifty Auto index continues its bullish trend, and Tata Motors shows strong potential for further growth.
BUSINESS
F&O Manual | Nifty faces resistance near 20,000 mark amid rush to book profits
Over the past 15 sessions, the Nifty has rallied over 1,100 points, which hauled daily and weekly stochastic oscillators in overbought conditions, indicating the possibility of extended profit-booking in recently run-up stocks cannot be ruled out
BUSINESS
SVJN Ltd jumps 11% on bagging Rs 7,000-crore solar power contract
SJVN Ltd has secured a contract from Punjab State Power Corporation Ltd for the development and procurement of 1,200 MW of solar power
BUSINESS
Cyient DLM shares decline over 5% after 15% slump in Q1 net profit
Cyient DLM has posted a 15.2 percent YoY decline in net profit at Rs 5.359 crore for the period ended June 30, 2023, as against a net profit of Rs 6.322 crore for the period ended June 30, 2022. Net Sales were Rs 217.15 crore in Q1FY24, up 27.65 percent from Rs 170.12 crore in June 2022.
BUSINESS
F&O Manual | Markets trade negative amid global weakness; Nifty struggles at 19,800 level
As of 12:09 pm, the Nifty index was down 1.01 percent or 201.10 points at 19,778.05. The Nifty Bank was down 0.34 percent or 155.65 points at 46,031.25.
BUSINESS
Derivatives outlook | What should be the options strategy for JSW Steel ahead of the Q1 results?
As JSW Steel gears up to announce its first quarterly financial results on July 22, analysts anticipate improved earnings despite industry headwinds. In the derivatives market, JSW Steel has tested fresh all-time highs of 815 in the July series and subsequently consolidated within a narrow range. Technically, the stock is trading within an upward trending channel on the weekly chart, suggesting bullish momentum.
BUSINESS
Nifty derivatives strategy as it inches towards 20,000 mark
Market bulls dominate as Nifty50 inches close to the much-awaited 20,000-mark. The Nifty surges 146 points, forming a long bullish candlestick pattern. Traders speculate on Nifty reaching 20,000 with FIIs' continued buying and positive option chain data. Experts recommend a Broken-wing Iron Condor and buy on dips strategy anticipating the market. However, analysts advise remaining vigilant and waiting for consolidation due to the ongoing strong bull trend.
BUSINESS
Derivatives Outlook | What Should Be the Options Strategy for RIL ahead of the Q1 Results?
Reliance Industries (RIL), India's most valued company, will announce its first quarterly financial results on July 21. The outlook for RIL stocks from a derivatives perspective remains positive, with a buy-on-dips strategy recommended by analysts. Implied Volatility Percentile (IVP) is at 96%, indicating a higher chance of IV crush post-results.
BUSINESS
F&O Manual | Indian markets open lower, Nifty eyes psychological level of 20,000 amid bullish undertone in Bank Nifty
Indian markets opened lower with Information Technology down 0.6%, while metal, oil & gas, power, realty, and healthcare sectors saw buying. Nifty index eyeing the 20,000 level. Bank Nifty remained bullish, aiming for 46,000 zones. Traders are advised caution due to overbought conditions and potential profit-booking opportunities.
BUSINESS
Alok Industries plunges 3% post Q1 results
Its net loss for the quarter widened by 59.73 percent to Rs 226.14 crore in Q1FY24, compared to Rs 141.58 crore in the corresponding quarter of the last fiscal year.
BUSINESS
F&O Manual | Bullish momentum continues; Nifty Index Inches Towards 20,000 Amid Strong Option Activity at 19,800 Strike
he market trades positively with BSE midcap and smallcap indices rising by 0.5% each. The power index shows a significant 1% increase, while the oil & gas, pharma, and realty sectors are up by 0.5% each. Nifty index records a slight dip of 0.014%, hovering at 19,800.
BUSINESS
Sportking India shares jump 7% on bulk deals
Anil Kumar Goel, an individual investor, has bought 1,31,558 shares, accounting for a 1.04 percent stake in Sportking India Ltd, at an average price of Rs 842 per share.
BUSINESS
Derivatives outlook as banking sector enters the results season
As the banking sector enters the highly anticipated results season, market experts analyze the derivatives outlook. With open interest at relatively lower levels and a lighter position in Bank Nifty, experts foresee potential upside and lower downside risks. The sector's performance amid ongoing sectoral rotation remains a key factor to watch.
BUSINESS
Hathway Cable and Datacom declines 5% post Q1 results
EBITDA fell 10.88 percent to Rs 77.53 crore, and the margin dropped by 400 basis points to 15.5 percent compared to the year-ago period, impacted by higher pay channel costs.
