The market is expected to consolidate further before entering a firm directional move. Below are some short-term trading ideas to consider.
Borosil said it will assess and account for any impact on account of the insolvency resolution process of GMB in its forthcoming quarterly results. The exposure to the German subsidiary stands at Euro 35.30 million as of March 2025.
Shares of Borosil Renewables took a hit following the company's weak Q3 earnings performance, encouraging investors to dump the stock over the last three sessions.
Pricing pressure, high input costs and weak operational performance weighed heavily on Borosil Renewables' Q3 earnings show.
Stocks To Watch, Feb 17: Stocks like Narayana Hrudayalaya, Dilip Buildcon, NRB Bearings, Rail Vikas Nigam, Borosil Renewables, Aditya Birla Fashion & Retail, La Opala RG, Dish TV India, Gujarat Narmada Valley Fertilizers and Chemicals, Easy Trip Planners, Wipro,Ujjivan Small Finance Bank, and Shriram Finance will be in focus on February 17.
With this expansion, Borosil Renewables will increase its manufacturing capacity from 1,000 tons per day to 1,500 tons per day.
On January 6, promoter Kiran Kheruka increased her stake in Borosil Renewables from 3.57 percent to 3.64 percent, through open market transactions.
Stocks like Ipca Laboratories, Gujarat Toolroom, Cummins India, Asian Paints, Vardhman Polytex, ITC, State Bank of India, JSW Infrastructure, Allcargo Gati, IOL Chemicals, Brigade Enterprises, Wipro, Borosil Renewables, and IRCON International will also be in focus on December 19.
Pradeep Kheruka aims to boost Borosil's standalone business margins from 18% to the mid-20s by Q4, after implementing price hikes.
The company has been facing challenges from cheaper imports after several domestic solar PV module manufacturers stocked up solar glass from China before the implementation of a 10% Basic Custom Duty in September.
Given the current conditions, traders are advised to remain cautious and avoid aggressive long positions.
Engineers India, Aditya Birla Fashion and Retail, Amara Raja Energy & Mobility, Aster DM Healthcare, EIH, Exicom Tele-Systems, and IRCTC are among the 440 companies set to announce their March quarter earnings on Tuesday.
On the upside, the levels of 22,200 – 22,450 are anticipated to pose strong resistance in the current week starting from March 26.
Aditya Birla Fashion & Retail has seen a nice breakout of consolidation and maintained upward sloping support trendline. The stock formed strong bullish candlestick pattern on the daily charts with healthy volumes.
Since the last 2–3 months, Borosil Renewables has been making higher highs and higher lows, which is a sign of positive momentum in the counter. Recently, on a daily scale, it has formed a bullish bat structure, which is looking attractive.
Bandhan Bank has gained strength after consolidation in the recent past and went very close to the September swing high. The stock formed healthy bullish candlestick pattern on the daily timeframe with significantly higher volumes.
Though BRL is expanding capacities quite rapidly, competition in the sector remains a constant threat. Also, challenges on realisations and margins are expected to persist for at least two quarters.
LTIMindtree has experienced a double bottom breakout, which is a bullish signal indicating a potential upward movement in price. Additionally, it has been able to sustain above its near-term 21-day exponential moving average (21EMA), further strengthening the positive outlook.
IT stocks have had it rough and Q4 earnings have failed to inspire, so far, but Vikas Salunkhe of Nirmal Bang expects the tide to turn. The two stocks, however, he is bullish on are a gaming firm and a green energy player, which he says can give good returns over the next few weeks. Here is why
Borosil Renewables has decisively seen Flag pattern breakout on April 20 with 7 percent rally, followed by another 4 percent upside on April 21. The stock on both days has formed long bullish candlestick pattern on the daily charts, getting back above 50 and 100-day EMA on closing basis and hitting 200-day EMA intraday on Friday.
Indian Hotels seems to be taking support from a strong upwards sloping support trendline on the weekly timeframe from the last 22 months and the stock has broken out of a downwards sloping parallel channel pattern on the daily timeframe which can be used as a confluence towards the bullish view.
After the removal of Anti dumping duty, the selling rates in the domestic market have dropped by 10-15 percent
Indiabulls Housing Finance has made a good rebound after four-day correction, rising 5.7 percent to Rs 117, and formed Bullish Engulfing candlestick pattern on the daily charts with above average volumes, which is a positive sign. It has given a nice breakout of long downward sloping resistance trendline adjoining December 30, 2022 and January 20, 2023.
Though cost pressures have eased a bit, increased supply from Chinese manufacturers can put strain on the company’s performance
The numbers for FY21 and FY22 are truly impressive on the back of a big spurt in volumes and favourable government policies