Stocks in Focus: Today the focus will be on these stocks including Reliance, Indian Energy Exchange, Maruti and Federal Bank.
Market Outlook: The Nifty 50 is also showing pressure amid the decline in the global market for the last five trading days and on Monday it fell to a 20-day low. According to brokerage firm Reliance Securities, Nifty 50 has formed a bearish pattern on the daily chart and major technical indicators are giving negative signals in short term as well as medium term. In this bearish trend, Nifty can slip to the level of 16800 first and then 16600. If it picks up, then the domestic benchmark index Nifty may face strong resistance at the level of 17600. It is currently getting support at the level of 16898.
Talking about individual stocks, today the focus will be on Reliance, Axis Bank, Indian Energy Exchange (IEX), Aditya Birla Capital, Maruti, Apollo Tyres, Federal Bank, Torrent Pharma and Berger King India. In intra-day, experts are today betting on SBI Life, Voltas and Lupine.
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Today focus will be on these stocks
- Reliance: Reliance, the country’s largest company by market capital, made a great financial performance in the December 2021 quarter. However, it was not successful in impressing the investors and on Monday closed at Rs 2379.90 with a fall of about 4 per cent on the NSE. The financial performance of all the companies of Mukesh Ambani-owned Reliance Group was better. The company’s net profit increased by 41.5 percent year-on-year to Rs 18519 crore. Jio’s Average Revenue Per User (ARPU) also increased.
Reliance Outlook: Reliance declines by 2% after quarterly results, brokerage firms set this target price
- Axis Bank: In the third quarter of the current financial year 2021-2, the profit of Axis Bank increased from Rs 1116.6 crore to Rs 3614 crore on a year-on-year basis. The company’s revenue also increased from Rs 7372.8 crore to Rs 8653.4 crore.
- Indian Energy Exchange: Indian Energy Exchange (IEX) posted higher profits in October-December 2021. IEX’s profit has increased to Rs 82.6 crore from Rs 58.14 crore in the previous quarter. The company’s revenue also increased from Rs 85.23 crore to Rs 117.54 crore.
- Aditya Birla Capital: Aditya Birla Capital officials will meet with investors and analysts to discuss financial results.
- Burger King India: The company’s loss has come down in the December 2021 quarter. The company incurred a loss of Rs 15.15 crore in October-December 2021, while the company had a loss of Rs 29 crore in the same quarter a year ago. The company’s revenue increased from Rs 163.19 crore to Rs 279.89 crore in the previous quarter.
- Zomato, Paytm, Nykaa, Policybazaar: Selling pressure was seen on other internet companies including Zomato, Paytm, Nykaa and Policybazaar on Monday. Foreign investors are withdrawing funds faster than expected amid concerns about strictness in the US Federal Reserve policy. These companies are facing the worst-case scenario after listing in recent quarters due to global sell-off in tech stocks.
Shares of these companies including Zomato and Nykaa fell, should you invest, know the opinion of experts
- The results of these companies will come today: Today the results of many companies including Maruti, Apollo Toys, Cartrade Tech, Deccan Cements, Icra, Indiabulls Real Estate, Federal Bank, Pidilite Industries, Raymond, SRF, Star Cement and Torrent Pharma will come out.
You can bet on these stocks in intra-day
According to Reliance Securities, you can bet on SBI Life, Voltas and Lupine in intra-day today.
- SBILIFE: One can take long positions in the price range of Rs 1,212- Rs 1,204 with a target price of Rs 1,255 and a stop loss of Rs 1,184.
- LAPS: In the price range of Rs 1,166- Rs 1,158, you can take a long position with a stop loss of Rs 1,130 and target price of Rs 1,225.
- LUPIN: In the price range of Rs 913-907, you can take a long position with a target price of Rs 940 and a stop loss of Rs 894.
(The stock recommendations given in the story are those of the respective research analyst and brokerage firm. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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