Stay updated with breaking news from Axis Securities. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Preeyam Tolia of Axis Securities, says Nestle's Q3 results meet expectations with slight misses. Nestle has strong overall performance, outperforming other FMCG companies. Expect mid-single digit volume growth. Coffee prices are volatile but other raw materials like palm oil and milk prices are stable, minimal impact on overall margins. Nestle's basket of raw materials remains stable.
With the interim budget concluded, investors have shifted their focus back to earnings and other major cues. Axis Securities has made some changes to its top picks like booking profit in Maruti. Let's take a look at its top large-cap picks for Feb.
It extended losses from the previous week as a mix of strong labour market data and hawkish Federal Reserve signals saw markets dial back expectations of early interest rate cuts
Bharti Airtel is expected to report a consolidated net profit of Rs 38,068 crore for the October-December quarter, a 6.3% YoY jump. Revenues are expected to reach Rs 38,800 crore, an 8.4% YoY growth. The profit after tax (PAT) is expected to be Rs 2,340 crore, a 10.5% YoY decrease. ARPU is projected to grow 1% QoQ to Rs 205. Africa's revenue is expected to fall 2% QoQ to $1,221 million. Bharti Airtel is targeting a Rs 50,000 crore market opportunity with its enterprise offerings.
The Nifty50 remained volatile during the budget week, closing at 21854 with a weekly gain of 501 points. The weekly chart shows a bullish candle with an upper shadow, indicating profit booking near the all-time high. If the Nifty crosses 22000, it may reach 22150-22300 levels, while breaking below 21700 may lead to a decline towards 21650-21500. The RSI indicator suggests a potential positive trend change. Here are 4 trading ideas for 10-20% returns in the next 3-4 weeks: Can Fin Homes, Engineers India Ltd, Hindustan Copper Ltd, and Oriental Hotels.