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“A 8-9% volume growth is enough to generate a 15-16% type of a top line growth in terms of revenues and that could lead to 20% type of a growth at the profit level. That is keeping a lot of players interested in the auto industry. These are mildly cyclical businesses as well. We are seeing a good cyclical upswing in the auto industry.”
Divi's Laboratories, a pharmaceutical company, has seen a rally of over 30% since March 2023. The stock has surpassed key moving averages and the chart pattern suggests that the rally may continue. Experts suggest that short-term traders could buy the stock, with a possible target above Rs 3,900 in the next 3-4 weeks. The stock has found support above Rs 3,000 and is trading above various moving averages. The Relative Strength Index (RSI) is at 59.6, indicating bullish momentum.
(CTN News) - There was a touch of strength in India's blue-chip Nifty 50 index on Monday after last-hour buying boosted the index.........
The Nifty closed up 0.14 per cent at 18,691.2, while the S&P BSE Sensex dipped 0.01 per cent to 62,970.00, , sensex, nifty
Indian markets experienced broad-based selling, with Sensex erasing the 63,000 mark and Nifty 50 falling below 18,700. Global cues and hawkish central bank stances dampened sentiments, while Accenture's lower Q4 2023 estimates caused IT stocks to dip.