TCS, ONGC, Just Dial among 41 stocks that look ready to rally, suggests MACD
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The momentum indicator signalled bullish crossovers on these counters, hinting at possible upsides in the days ahead.
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NEW DELHI: With the benchmark stock indices rising for the third day in a row, at least 41 stocks on NSE are looking strong on momentum oscillator moving average convergence divergence or MACD.
The momentum indicator signalled bullish crossovers a sign of bullish undertone on these counters, hinting at possible upsides in the days ahead. Some of the stocks have climbed up to 20 per cent in Tuesday s session so far.
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ICICI Securities has add call on Kansai Nerolac Paints with a target price of Rs 625. The current market price of Kansai Nerolac Paints is Rs 562.45.
Kansai Nerolac Paints Ltd., incorporated in the year 1920, is a Large Cap company (having a market cap of Rs 30265.73 Crore) operating in Building Materials sector.
Financials For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1470.50 Crore, down -8.49 % from last quarter Total Income of Rs 1606.86 Crore and up 35.67 % from last year same quarter Total Income of Rs 1083.91 Crore. Company reported net profit after tax of Rs 123.62 Crore in latest quarter.
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Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 367.74 points or 0.75% at 49,574.21. The Nifty 50 index was up 119.80 points or 0.81% at 14,942.95. The Sensex regained the key 49,500 mark in early trade.
The S&P BSE Mid-Cap index was up 0.51%. The S&P BSE Small-Cap index was up 0.91%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1624 shares rose and 515 shares fell. A total of 110 shares were unchanged.
Stocks in news:
Avenue Supermarts rose 1.32%. The company s consolidated net profit surged 52.7% to Rs 414 crore on 18.4% rise in net sales to Rs 7412 crore in Q4 FY21 over Q4 FY20.
Kansai Nerolac Paints reported 78.8% jump in standalone net profit to Rs 127.80 crore on 34.7% increase in net sales to Rs 1321.09 crore in Q4 FY21 over Q4 FY20.
Profit before tax in Q4 FY21 stood at Rs 171.25 crore, up 73.9% from Rs 98.45 crore in Q4 FY20. EBIDTA in Q4 FY21 stood at Rs 203 crore, a growth of 59.1% over Q4 FY20.
The company reported 0.7% rise in standalone net profit to Rs 539.03 crore on 5.3% fall in net sales to Rs 4655.69 crore in the year ended 31 March 2021 over the year ended 31 March 2021.
For the financial year EBITDA was at Rs 833 crore, a growth of 6.6% over FY 2019-20.