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In addition, they have been asked to disgorge Rs 4.23 crore of unlawful gains made by them, along with an interest of 12 per cent.
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A strong pick up in capital expenditures in FY22E, impact of the reforms announced in the Budget and allocation of higher capital expenditures should continue to support the rebound in corporate earnings, says Chaturvedi.
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On the higher side, the monthly resistance is placed at 15,300. A bounce from the lower range of 14,680-14,730 is expected, says Srivastava.
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The top key index heavyweights like HDFC Bank, Reliance Industries, and HDFC Ltd are seeing some profit-booking from higher levels keeping the index capped.
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The midcap and small-cap indices have outperformed to gain by 9.7 percent and 14.3 percent respectively compared to Nifty50 to gain by 6.9 percent MTD.
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The Nifty 50 index is struggling to find a directional bias. It is broadly moving within a band of 8,800 and 9,200. These levels are crucial.
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The later part of the results season is always very weak, which could also pull the markets lower in the second half of May, Vikas Jain, Senior Research Analyst at Reliance Securities, told Moneycontrol.
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If the Coronavirus situation mounts further, it will certainly have serious repercussions on the global economy.
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Change is the only constant and players need to change their mindset to shape a new and strong future for the financial distribution system.
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We believe the ongoing correction in the market is an opportunity to take fresh positions in quality stocks, says Rajeev Srivastava of Reliance Securities.
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Net Sales are expected to increase by 2.2 percent Y-o-Y (down 1 percent Q-o-Q) to Rs. 2,549.6 crore, according to Reliance Securities.
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Net Sales are expected to decrease by 4.6 percent Y-o-Y (down 6.2 percent Q-o-Q) to Rs. 1,334.1 crore, according to Reliance Securities.
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Net Sales are expected to decrease by 6 percent Y-o-Y (down 5.9 percent Q-o-Q) to Rs. 1,649.4 crore, according to Reliance Securities.
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Net Sales are expected to decrease by 1.3 percent Y-o-Y (down 3 percent Q-o-Q) to Rs. 4,201.6 crore, according to Reliance Securities.
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Net Sales are expected to decrease by 11.7 percent Y-o-Y (down 11.8 percent Q-o-Q) to Rs. 11,297.9 crore, according to Reliance Securities.
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Net Sales are expected to decrease by 8.2 percent Y-o-Y (down 5.5 percent Q-o-Q) to Rs. 7,332.4 crore, according to Reliance Securities.
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Net Sales are expected to decrease by 18.1 percent Y-o-Y (down 7.3 percent Q-o-Q) to Rs. 7,443.1 crore, according to Reliance Securities.
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Net Sales are expected to decrease by 26.4 percent Y-o-Y (down 16.2 percent Q-o-Q) to Rs. 16,516.9 crore, according to Reliance Securities.
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Auto, corporate banks, telecom, and metals are likely to post profit contraction or losses. There is likely to be a sharp slowdown in IT, say experts.
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Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 51 points loss or 0.45 percent. Nifty futures were trading around 11,287-level on the Singaporean Exchange.
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Market is eagerly looking forward to some sort of stimulus by the government to kick-start growth, without which it would be difficult for corporates to report sustainable growth.
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Net Sales are expected to increase by 19.7 percent Y-o-Y (down 23.6 percent Q-o-Q) to Rs. 740 crore, according to Reliance Securities.
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Net Sales are expected to increase by 13.9 percent Y-o-Y (down 5.6 percent Q-o-Q) to Rs. 460 crore, according to Reliance Securities.
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Net Sales are expected to increase by 9.6 percent Y-o-Y (down 14.8 percent Q-o-Q) to Rs. 610 crore, according to Reliance Securities.
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Net Sales are expected to increase by 17.8 percent Y-o-Y (down 18 percent Q-o-Q) to Rs. 2,780 crore, according to Reliance Securities.
