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Sensex drops over 300 points, Nifty below 24,400; pharma, bank stocks lead declines
Key indices Sensex and Nifty50 opened lower, impacted by banking stocks and persistent foreign selling, with Sensex down 331 points.
Hot stocks: Brokerage view on Marico, Maruti, CONCOR and Cipla
UBS has maintained a buy rating on Maruti, lowering the target price to Rs 14,800 despite Q2 results missing expectations. Improved demand and margins led to this decision. Meanwhile, JPMorgan holds a neutral stance on Container Corporation with a target price of Rs 1,000. Although growth was sluggish, cost reductions boosted margins, while volume growth of 6% YoY fell short of guidance.
Bullish Momentum: SBI among 3 stocks with White Marubozu Pattern
On October 29, three stocks from the Nifty50 pack came to the bullish scanner of "White Marubozu", according to stockedge.com's technical scan data. A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest. Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session. Traders interpret it as a signal that buyers were in control from the opening to the closing, often using such patterns for informed decisions about future price movements in financial markets.
At multi-year highs: These 3 stocks witness 5-year swing high breakout
In the NSE list of stocks with a market cap of over Rs 1000 crore, we have collated a list of three stocks that witnessed a 5-year swing high at the close on October 29, suggesting bullishness in counters, according to stockedge.com's technical scan data.
Diwali Picks: Zomato, Bajaj Finance among 10 stock ideas from 5 brokerages
This Diwali, top brokerage firms have spotlighted select stocks they believe hold strong growth potential based on current market conditions and sector outlooks. Spanning banking, finance, and tech, these stocks offer opportunities for investors looking to leverage promising sectors. Here are 10 stock picks to consider:
Maruti Suzuki shares in focus after Q2 profit misses estimates. Should you invest?
Maruti Suzuki's shares are under scrutiny following a 17% drop in standalone net profit to Rs 3,069 crore for the September quarter, missing estimates. Revenue rose marginally to Rs 37,203 crore but also fell short of expectations. Analysts have mixed views: UBS maintains a 'Buy' rating, while Investec has a 'Hold' rating, citing concerns over margin pressures and shifting consumer preferences.
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21 stocks sending out weak signals on MACD charts
Data showed 21 stocks are showing bearish trends. They included Tata Steel, Biocon, Asian Paints,
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Cipla stock in focus after Q2 PAT beats estimates. Should you buy, sell or hold?
Cipla's shares are in focus as the company reported a 15% YoY increase in consolidated net profit to Rs 1,303 crore for Q2 2024. Revenue rose 6% to Rs 7,051 crore, with EBITDA growing 12%. Despite mixed outlooks from analysts, including BofA's 'Underperform' and UBS's 'Buy' rating, concerns about market challenges and product launch delays persist.
Stocks to buy today: HDFC Bank, L&T among top 9 trading ideas for 30 October 2024
The Indian market is expected to consolidate on Wednesday due to muted global cues. Experts have recommended buying specific stocks such as HDFC Bank, Tech Mahindra, JSW Steel, BEL, HDFC Life, Container Corp, L&T, LIC Housing Finance, and Bank of Baroda for short-term gains. Certain levels and strategies have been advised.
Voltas shares in spotlight as co posts 269% YoY jump in Q2 PAT
Voltas Share Price: Shares of Voltas are expected to be in the spotlight on Wednesday after the company reported a 269% year-on-year (YoY) surge in consolidated net profit, reaching Rs 133 crore for the September quarter, compared to Rs 36 crore in the same period last year. This growth was primarily driven by a 56% increase in volume from its room AC business.
Godavari Biorefineries shares to debut today. GMP hints at flat listing
Godavari Biorefineries is set to debut on the exchanges on Wednesday, with its shares currently trading at a grey market premium (GMP) of Rs 5. Given the upper price band of Rs 352, the stock is anticipated to experience a flat or possibly negative listing.
Torrent Pharma shares fall 3% after 2.9% stake sale via block deal
Torrent Pharma Share Price: Torrent Pharmaceuticals reported a consolidated profit after tax (PAT) of Rs 453 crore in the September quarter, which rose by 17% led by robust sales in the domestic market. The drug firm had reported a PAT of Rs 386 crore in the July-September period of the last fiscal.
Positive Breakout: These 5 stocks close cross above their 200 DMAs
In the Nifty200 pack, five stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on October 29, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Marico shares pop 7% after company reports 20% YoY growth in PAT
Marico Share Price: Marico reported a 20% increase in consolidated net profit to Rs 433 crore for the September quarter, up from Rs 360 crore a year ago. Consolidated revenue rose by 7.6% to Rs 2,664 crore, with domestic revenue up 8.02% and international revenue rising 6.36%.
Dabur India shares in focus ahead of Q2 results today
FMCG major Dabur India's second quarter results are likely to show a muted performance due to declining volumes and distributor inventory correction. Revenue is expected to drop by 5% and net profit by 8% year-on-year. The international business might see double-digit growth. Consolidated EBITDA is projected to decline by 17%, with tightened margins amid increased marketing expenses.
NTPC, Tech Mahindra among 11 stocks to trade ex-dividend tomorrow. Last chance to buy
Shares of Tech Mahindra, Godrej Consumer Products, Balkrishna Industries, and NTPC will remain in focus as today is the last day to buy shares for dividend eligibility. NTPC, Tech Mahindra, and several other companies have announced interim dividends with specified record dates and payment schedules.
This microcap stock's 1:8 bonus issue, 1:5 stock split record date tomorrow. Do you own?
Sellwin Traders plans a 1:8 bonus share issue and a 1:5 stock split, with November 1, 2024 as the record date. Shares must be bought by October 31 to qualify. The stock has shown significant growth, doubling its value in the past year with a 111% YTD return.
