Page 5 - Deepak Nitrite News Today

Prabhudas Lilladher recommended reduce rating on Deepak Nitrite with a target price of Rs 1985 in its research report dated February 15, 2024.

Around 70% of stocks in Nifty MidCap 100 and Nifty SmallCap 100 indices witnessed a rise in mutual fund stakes in December 2023 quarter, according to Ace Equities data.

Deepak Nitrite Q3 FY24 Results Live : Revenue increased by 0.91% YoY & profit decreased by 3.35% YoY

Q3 Results Today: Several major companies are set to report their earnings today, including Siemens, Hindalco Industries, Eicher Motors, BHEL, IRCTC, Bosch, Info Edge (India), Oil India, Deepak Nitrite, National Aluminium Company, NBCC, Hindustan Copper, KIOCL, and Zee Entertainment Enterprises

This week, the Indian market performance and projection is likely to be influenced by key economic data this week, including the Consumer Price Index, Industrial Production, and trade balance.

Benchmark indices have performed well in election years going by four decades of history and despite spikes in volatility, the median returns in election years have been 17%. As per ICICI Direct, the outperformance of PSU banks will only amplify and investors should also raise their exposure to IT stocks ignoring the noise.

Godrej Consumers consolidated net profit rose 6% year-on-year to Rs 581 crore in the December quarter. Revenue from operations during the third quarter increased 2% year-on-year to Rs 3,660 crore.

This investment is likely to create about 1,300 direct and indirect employment opportunities.

(This story has not been edited by THE WEEK and is auto-generated from a PTI

The stock picked up momentum after retesting the 50-week moving average in October 2023, which helped it hit a fresh 52-week high in January 2024. The stock hit a fresh 52-week high of Rs 2,520 on 1st January 2024 but quickly witnessed some healthy profit-taking at higher levels. However, any dips towards Rs 2,400 could be used as a buying opportunity.