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[hfe_template id='11223'] [ad_1] Equity markets cheered the exit poll results, which predicted NDA to win for the third consecutive time, and rallied over 3%, driven by broad-based buying. "We expect the market to reach new highs given the clear majority for the ruling party in exit polls, good macro trends, and solid corporate earnings. One can focus on manufacturing, capex, infrastructure and financials as themes for long term investment," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: State of the markets Gift Nifty (Earlier SGX Nifty) signals a positive start. Nifty futures on the Gift Nifty traded 88 pts or 0.38% higher at 23,555. Tech View The bulls are in full control of the markets at current juncture and are using every minor pull back to create long positions. Support for the Nifty is now seen at 23,200 and 22,950-23,000 levels. On the higher side, immediate resistance is at 23,350 level...

[hfe_template id='11223'] [ad_1] Shares of R R Kabel surged nearly 6% on BSE to the day’s high of Rs 1,820.80 after the company reported a profit after tax of Rs 78.7 crore, up by 20.6% year-on-year (YoY). The company's revenue also rose 15.7% YoY to Rs 1,754 crore for the fourth quarter of FY 24, while EBITDA margin decreased by about 10 bps YoY to 6.6%. The company stated that its segment profit also increased by 43% in FY24 compared to FY23 due to cost reductions and operational efficiencies. Here is what brokerages say: Motilal Oswal R R Kabel has demonstrated its ability to grow at a higher rate than peers, with its cables & wires segment recording a CAGR of 21%/24% in revenue/EBIT over FY19-24. Management also remains optimistic for cables & wires demand growth in the country and indicated that its volume growth would be 20% in FY25. Motilal reiterated its 'buy' rating on the stock with a target price of Rs 2,200. Citi Group The global brokerage...

[hfe_template id='11223'] [ad_1] Shares of TVS Motor Company surged nearly 6% on Thursday on BSE to the day’s high of Rs 2,121.30 as the company reported an 18% year-on-year (YoY) increase in standalone net profit to Rs 485.43 crore for the fourth quarter ended March 31, 2024. TVS Motor Company’s revenue from operations in the quarter under review grew 24% YoY to Rs 8,169 crore as against Rs 6,605 crore registered in the quarter ended March 2023 while Overall, two-wheeler and three-wheeler sales, including exports, grew by 22% to 10.63 lakh units in the quarter ended March 2024. Here’s how brokerages view the stock post Q4 results: Jefferries The stock is scaling to new highs and the growth momentum seems to continue as India’s 2-wheeler industry is poised for strong growth while exports are also recovering, said Jefferies. The company’s margins are improving and the EPS has more than trebled in the last 3 years and is expected to more than double in the next 3 years. Je...

[hfe_template id='11223'] [ad_1] Domestic markets closed flat on Wednesday as consistent selling by FIIs, a mixed set of Q4 results, and lower turnout in the election kept investors wary. "We expect the market to consolidate in a broader range amid nervousness surrounding the ongoing Lok Sabha election," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a muted start GIFT Nifty on the NSE IX traded lower by 12 points, or 0.05 per cent, at 22,376, signaling that Dalal Street was headed for muted start on Thursday. Tech View: The short-term trend remains weak, but the market is showing signs of higher bottom formation around 22200 levels. Confirmation of reversal from here could open short-term upside bounce in the market. Immediate support is at 22200 levels and the next overhead resistance is at 22500 levels, Nagaraj Shetti of HDFC Securiti...

[hfe_template id='11223'] [ad_1] Shares of Tata Group company Voltas on Wednesday fell up to 9% to the day's low at Rs 1,262 on BSE after the home appliances manufacturer recorded a 340 basis point sequential drop in its EBITDA margin. Voltas reported a 22.75% year-on-year (YoY) decline in consolidated net profit to Rs 110.64 crore in the March quarter while revenue rose about 42% YoY to Rs 4,202.88 crore. The company's Unitary Cooling Products (UCP) business continued to outperform the market and maintained its growth momentum. While the overall volumes grew by 27%, the YoY growth for air-conditioners was even higher at 35%. Voltas continues to be a market leader both in Split and Window Air-conditioners with a YTD market share of 18.7% as at March 2024. The engineering products and services division clocked revenue of Rs 156 crore as compared to Rs 142 crore in the year-ago period. Similarly, the electro-mechanical projects and services segment comprising both ...