The entire banking space has been on a buying spree since last couple of months. In fact, the banking index managed to clock fresh highs this week and ‘Axis Bank’ is one of the major contributors in the rally.
The Nifty50 is expected to trade within the range of 17,300-17,800 in the short term, and if it decisively gives a close above the upper band of the said range, then there could be a move towards the psychological 18,000 mark, experts said
On daily charts, United Spirits has formed a double bottom formation. After that formation, the stock bounced back sharply. On last Thursday it rallied over 5 percent. However, the short term texture of United Spirits is still non-directional.
Motilal Oswal recommended Neutral rating on United Spirits with a target price of Rs 790 in its research report dated July 27, 2022.
The company had posted a net profit of Rs 50.3 crore in the April-June quarter a year ago, United Spirits Ltd (USL) said in a regulatory filing.
As long as the Nifty trades above 15,500, one should continue to trade with a positive bias and look for stock-specific buying opportunities during the week, says Ruchit Jain, of 5paisa.com
Federal Bank has been off-radar for a quite some time now. But the way it grabbed everyone's attention on last Friday is incredible. Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One
Diageo India will be focusing on accelerating luxury and premium portfolio of scotch whisky, strengthening participation in upper prestige.
The veteran investor said that pockets of value will begin to emerge. He is highly optimistic about the USL slump sale
USL and Inbrew have executed definitive agreements for the sale of the entire business undertaking associated with 32 brands, including iconic brands Haywards, Old Tavern, White-Mischief, Honey Bee, Green Label and Romanov, for a total cash consideration of approximately Rs 820 crore
Net Sales are expected to increase by 14.7 percent Y-o-Y (down 11.6 percent Q-o-Q) to Rs 2,550.7 crore, according to Motilal Oswal.
Inbrew is negotiating final terms of a deal and could reach an agreement as soon as the coming weeks.
On the daily charts, Crompton Greaves has given a breakout of A-B-C pattern with volume confirmation which shows positive undertone of the stock for the short to medium term.
ICICI Direct is bullish on United Spirits recommended buy rating on the stock with a target price of Rs 1050 in its research report dated January 28, 2022.
The reported net sales in the three-month period ending December 2021 increased to Rs 2,885 crore, marking a 15.9 percent year-on-year surge.
The review of the selected popular brands, which consist of a portfolio of around 30 brands, will now be completed by March 31, 2022, informed USL in a regulatory filing.
Any sustainable move above 17,600 levels may cause an upside momentum towards 17,700-17,800 levels, says Rajesh Palviya of Axis Securities.
Shares of United Spirits touched a 52-week high on the NSE and have appreciated by about 65 percent so far this calendar year. As such, valuations are not exactly cheap.