While brokerages lauded Bajaj Auto's stellar earnings report for January-March, many maintained a 'sell' rating on the stock, citing target prices significantly lower than the current market value
However, the net profit was slightly higher than analysts' expectations of Rs 1,195.7 crore.
Maruti's total sales went up 30.8 percent at 1.60 lakh units against 1.22 lakh units (YoY). Total sales grew 29 percent at 1.60 lakh units against 1.24 lakh units (MoM).
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 5 points or 0.04 percent. Nifty futures were trading around 11,621-level on the Singaporean Exchange.
Formation of hanging man after an intermediate up move on Thursday and Friday shows that the trend is exhausting as selling is emerging at a higher level.
The rupee started off trade on a positive note. It rose 17 paise to 62.40 per dollar as against Wednesday's closing of 62.57.
Retail investors continue to be bearish on the stock market, and instead are putting their money in fixed income, real estate and commodities, says Gautam Trivedi, Managing Director and Head of Equities, Religare Capital Markets Limited.