BUY MARUTI | CMP: Rs 7,284 | TARGET: Rs 7,900-8,000 | STOP LOSS: Rs 7,100 The stock has corrected well from the peak of 7,690 level and has bottomed out near 7,150 level. It took support and formed a higher bottom formation on the daily chart to indicate strength and has the potential to rise further from here on in the coming days. Besides, the stock has moved past the significant 50EMA and 200DMA levels to indicate improved bias. We suggest to buy and accumulate this stock for an upside target of Rs 7,900-8,000, keeping the stop loss of Rs 7,100
BUY TCS | CMP:Rs 3,210 | TARGET: Rs 3,450-3,500 | STOP LOSS: Rs 3,100
Shares of private lender Axis Bank slipped 1.3 per cent in intra-day deals on Monday ahead of the bank’s June quarter (Q1FY22) results announcement due later in the day. At 9:27 AM, the stock was trading 0.4 per cent lower as against a 0.06 per cent rise in the benchmark S&P BSE Sensex. In three-months to June, the scrip of the Mumbai based lender advanced 7 per cent on the BSE, in-line with the Sensex’s rally. It, however, outperformed the BSE Bankex index’s around 4 per cent gain during the period, ACE Equity data show.
Here’s what leading brokerages expect from the results:
RIL share trades lower post Q1 results; here s what brokerages say businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
ICICI Bank Q1 preview: After a disappointing June quarter (Q1FY22) show by HDFC Bank, all eyes would be on ICICI Bank to gauge if the former s numbers were one-off or if they were a hint at a broad-based trend. The latter is scheduled to announce its Q1 results on Saturday, July 24. Analysts expect ICICI Bank to outperform peers by reporting a stable June quarter with up to 15 per cent growth in net profit on a quarterly basis along with flattish non-performing assets (NPA) numbers. On the bourses, the scrip of the Mumbai-based lender surged around 9 per cent during the quarter as against a 7 per cent rally in the benchmark Nifty50 index and 4.4 per cent gain in the Nifty Bank index, ACE Equity data show.
NEW DELHI: The bumper Rs 2.13 lakh crore worth of bids put up for Zomato s initial public offering (IPO), the third-highest in Indian capital market history, have pushed the grey market premium of the stock higher, and so is investor excitement.
Investors are eagerly waiting India s first startup unicorn listing, whose share allotment is likely to be finalised by Thursday. The stock market will be shut on Wednesday on account of Bakri Id.
Last heard, unlisted shares of Zomato were commanding a Rs 16.75-17.25 premium in the grey market up from Rs 10 they was commanding just ahead of the issue. Most brokerages expect the issue to deliver solid listing gains, though many have a mixed outlook on the stock s performance over the medium term, as the issue was deemed overpriced based on several valuation parameters.