Stocks to Watch Today: AU Small Finance Bank will be in focus as the company has set June 10 as the record date for the proposed 1:1 bonus issue.
The technical analyst from HDFC Securities sees the positional trend for Nifty as bullish and expects the index to seek support around 16,400-level.
While the outlook for tractors has improved, analysts expect the auto business to be the key growth driver over the next couple of years.
The stock of PG Electroplast has surged 30 per cent in two days after the company posted strong operational performance in March 2022 quarter (Q4FY22) that signaled robust outlook.
The loss came on account of settlement charges of pending litigations in the US, and restructuring operations in some countries. Adjusted profit grew 18 per cent year on year (YoY) to Rs 1,582 crore.
The Bajaj and HDFC twins can rally up to 8 per cent provided the stocks manage to sustain above the following key technical levels on the daily and weekly charts.
Sources say that the proceeds of the sale will be utilized to bid for the upcoming 5G spectrum auction and roll-out of services by end of the year.
The company's profit jumped 67 per cent on a YoY basis, while sales grew by 36.3 per cent. The board has also recommended a dividend of Rs 35 per share.
In the past three months, the stock zoomed 55 per cent, as against 1 per cent decline in the S&P BSE Sensex.
Stocks to Watch: Investors will react to LIC and Delhivery's Q4 numbers. The domestic GDP data for March quarter, slated to be released later today, will also be keenly monitored.
According to the technical analyst from Anand Rathi, both the stocks have taken support at historic levels and the RSI is showing an impulsive behavior.
Analysts at Emkay Global Financial Services retain their positive view on the auto sector, underpinned by expectations of a cyclical upturn in the next three years.
Analysts believe that the improvement in global sentiment on the back of consumer resiliency and peaking inflation brought cheer back to the Dalal Street.
The management expects consumer demand to stay strong with high number of weddings coupled with social gatherings and opening up of physical workspaces
The BSE Sensex and the Nifty 50 stand currently 10 per cent higher from the May 2021 levels, and if positive sentiment continues, the market may repeated a similar bull run.
The company's consolidated profit after tax (PAT) declined 20 per cent year on year (YoY) to Rs 3,343 crore in March quarter on higher raw material cost
Going forward, Timken is expected to perform better with sustainable margins, new product launches and better performance in Indian CV & PV segment.
Shares of Ethos listed at Rs 825, a 6 per cent discount when compard with its issue price of Rs 878 per share on the NSE.
Given the recent fiscal and monetary measures by Government of India and RBI, the company's management foresees the cost pressures in the economy to ease out.
Analysts believe that the government's nascent step towards anti-dumping policy will act as a big booster for the domestic paper players.