After Independence Day, the Indian indices are on the way to flying high like the “Indian Tiranga”.
High selling pressures were witnessed along with swift recoveries in the market that is bound to give traders a fighting chance in today’s session.
However, what are the important aspects that traders need to focus on?
Without further delays let’s begin!!
Nifty Soars high after strong selling pressure. Will the trend continue?
Buy Above – 19500 | Stop Loss – 19400 | Target – 19600 |
After a day of rest, traders are back with an exciting set of conditions. Nifty’s last session opened the gap down and saw strong selling pressure.
It recovered slowly and then it closed positively. It has formed a hammer candlestick pattern and traders can expect upside movements.
Bank Nifty rides the Nifty waves to the top. What’s next for the market?
Buy Above – 44400 | Stop Loss – 43900 | Target – 44900 |
Bank nifty last session opened the gap down and saw strong selling pressure. The market has recovered considerably slowly and has then gone on to close positively.
it has formed a hammer candlestick pattern and upward movements should be expected by traders moving forward.
Trending Equity News:
It’s the middle of the week and several companies have made their mark on the market. Let’s venture into what they have to say.
ITC:
For the quarter that ended in June of FY24, the FMCG company reported a standalone profit of Rs 4,902.74 crore, a remarkable increase of 17.6% over the same quarter last year. This increase was primarily due to good operating margins and greater other income. Lower agro, paper & packaging, and excise duty industries caused revenue (net of excise duty) to decrease by 8.5% YoY to Rs 15,828.2 crore during the quarter.
Vodafone idea:
The telecom operator’s loss increased from the previous quarter’s loss of Rs 6,418.9 crore to Rs 7,840 crore during the quarter ending in June FY24. During the same quarter, revenue from operations increased by 1.2% sequentially to Rs 10,655.5 crore, helped by an improving subscriber mix and 4G subscriber additions.
Coffee Day Enterprise:
India’s home-grown coffee enterprise has recorded a profit of Rs 21 crore for the quarter ended June FY24, against a loss of Rs 17 crore in the corresponding period of the previous fiscal, with better topline and operating numbers. Revenue from operations grew by 18% on-year to Rs 247 crore during the quarter, and EBITDA increased by 97% to Rs 63 crore in the same period.
GMR Airports Infrastructure:
The company has narrowed its consolidated loss to Rs 29.8 crore for the quarter ended June FY24, compared to a loss of Rs 137 crore in the same period last year, aided by healthy topline and operating performance. Consolidated revenue from operations grew by 40.2% on-year to Rs 2,017.6 crore during the quarter.
Indiabulls Housing Finance:
The housing finance company recorded a consolidated profit of INR 296.2 crore for the first quarter of FY4, rising 3.3% over the corresponding period of the previous fiscal.
That’s all for today folks. We’ll be back soon with more news.
Until then, Happy Trading!!
Commodity Samachar
Learn and Trade with Ease