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Shares of Zee Ent. fall as Nifty drops

Shares of Zee Entertainment Enterprises Ltd. slipped 0.46 per cent to Rs 312.5 in Wednesday’s trade as of 12:49PM (IST). It hit a high of Rs 315.3 and low of Rs 308.0 during the session.

The stock quoted a 52-week high price of Rs 362.85 and a low of Rs 166.8. The return on equity for the stock stood at 7.92 per cent. About 290,973 shares have changed hands on the counter so far.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 0.98.

The scrip has been an outperformer, up 71.68 per cent in the past one year in comparison with a 47.64 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 166.8 on November 03, while the 50-DMA was at Rs 265.18. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 0.22 per cent stake in Zee Entertainment Enterprises Ltd. as of 30-Sep-2021. Mutual funds and foreign institutional investors held 7.26 per cent and 57.18 per cent stake.

PI Industries shares drop 0.95% as Sensex falls

Shares of

PI Industries

Ltd. traded 0.95 per cent down at Rs 2755.0 at 12:39PM (IST) on Wednesday, even as BSE benchmark Sensex dropped 85.78 points to 59943.28.

The stock had closed at Rs 2781.55 in the previous session. The stock quoted a 52-week high price of Rs 3533.3 and 52-week low of Rs 1982.45, respectively. As per BSE data, total traded volume on the counter till 12:39PM (IST) stood at 8378 shares with a turnover of Rs 2.32 crore.

At the current price, shares of the company traded at 53.66 times its trailing 12-month earnings per share of Rs 51.41 per share and 6.41 times its price-to-book value, BSE data showed.

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A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 0.56.

Shareholding Details

Promoters held 46.74 per cent stake in the company as of 30-Sep-2021, while FIIs owned 19.71 per cent and DIIs 13.06 per cent.

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 29.03. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a’buy’ or’sell’ recommendation using a single valuation ratio.

Adani Ent. shares up 0.52% as Nifty drops

NEW DELHI: Shares of Adani Enterprises Ltd. traded 0.52 per cent up in Wednesday’s trade at 01:20PM (IST). Around 36,638 shares changed hands on the counter.

The stock opened at Rs 1472.45 and touched an intraday high and low of Rs 1500.0 and Rs 1465.0, respectively, in the session so far. The stock of Adani Enterprises Ltd. quoted a 52-week high of Rs 1718.45 and a 52-week low of Rs 333.55.

As per BSE, the total market cap of the Adani Enterprises Ltd. stood at Rs 162821.38 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 13597.1 crore for the quarter ended 30-Sep-2021, up 6.81 per cent from previous quarter’s Rs 12730.63 crore and up 46.01 per cent from the year-ago quarter’s Rs 9312.14 crore.

The net profit for latest quarter stood at Rs 212.41 crore, down 41.38 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Sep-2021, domestic institutional investors held 1.64 per cent stake in the firm, while foreign institutional investors held 18.05 per cent and the promoters 66.33 per cent.

Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 160.47 and a price-to-book ratio of 6.61. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Adani Enterprises Ltd. belongs to the Diversified industry.

Buy The Ramco Cements, target price Rs 1110: Edelweiss

Edelweiss has buy call on The

Ramco Cements

Ltd. with a target price of Rs 1110. The current market price of The Ramco Cements is Rs 1067.85.

Time period given by analyst is Intra Day when The Ramco Cements Ltd. price can reach defined target.
The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 25188.68 Crore) operating in Cement sector.

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The Ramco Cements Ltd. key Products/Revenue Segments include Cement, Power, Dry Mortar Mix, Scrap, Ready Mix Concrete and Other Operating Revenue for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1510.33 Crore, up 21.80 % from last quarter Total Income of Rs 1239.99 Crore and up 18.60 % from last year same quarter Total Income of Rs 1273.47 Crore. Company reported net profit after tax of Rs 519.12 Crore in latest quarter.

Investment Rationale
Ramco Cement has formed a triple bottom pattern at levels of 920.

Promoter/FII Holdings
Promoters held 42.52 per cent stake in the company as of 30-Sep-2021, while FIIs owned 8.71 per cent, DIIs 31.68 per cent.

ICICI Pru Life rises 0.27% as Sensex slides

Shares of ICICI Prudential Life Insurance Company Ltd. traded at Rs 627.95 on BSE at 01:00PM (IST) on Tuesday, up 0.27 per cent from previous close.

The scrip quoted a 52-week low price of Rs 399.4 and a high of Rs 724.5.

Earlier, the stock saw a gap up opening in the morning.

A total of 14,172 lakh shares changed hands on the counter till 01:00PM (IST).

The stock of ICICI Prudential Life Insurance Company Ltd. commanded a market value of Rs 90215.28 crore, according to BSE.

The stock traded at a price-to-earning (P/E) multiple of 143.85, while the price-to-book value ratio stood at 5.28. Return on equity (ROE) was at 7.9 per cent, according to exchange data.

In the BSE500 pack, 322 stocks traded in the green, while 178 stocks were in the red.

The stock’s beta value, which measures volatility in relation to the broader market, stood at 1.14.

Promotor/FII Holding
Promoters held 51.33 per cent in ICICI Prudential Life Insurance Company Ltd. as of 30-Sep-2021 while overseas and domestic institutional investors owned 17.17 per cent and 3.5 per cent, respectively.

Moving averages
The 200-DMA of the stock stood at 572.36 on November 02, while the 50-DMA was at 666.08. If a stock trades below 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered as bearish trend and if trades between 50-DMA and 200-DMA, then it suggests the stock can go either way.

Trade Setup: Nifty50 to remain rangebound; stay high stock-specific

After a strong technical rebound in the previous session, Nifty50 chose to consolidate as it ended the session with a modest cut. Nifty50 opened on a positive note; it marked its high point in the early minutes of the day. It tested the 18000-level and expectedly found some resistance there. The markets gradually pared their opening gains to slip in the negative territory. For most of the session, Nifty50 didn’t take any directional view despite trading with a negative bias. Some weakness was seen in the late afternoon session which was followed by a modest recovery from lower levels. Nifty50 ended the day losing 40.70 points (-0.23 per cent).

Markets have a couple of factors to deal with this week. Firstly, the FOMC meeting starts today; the taper worries, the outcome of the meet that will come on Wednesday night, and its commentary is something that the markets will react to. Additionally, Wednesday is practically the last working day of the week as Thursday will host just a symbolic one-hour Mahurat trading session. Hence, weekly options will expire on Wednesday instead of Thursday. Given the options data, it is seen that Nifty50 is likely to stay range-bound with the level of 18000 acting as resistance on the upside.

Volatility declined as India VIX came off by 1 per cent to 17.0625. On Wednesday, Nifty50 is likely to see resistance at the levels of 17930 and 18000. Supports come in at 17800 and 17745 levels.

The Relative Strength Index (RSI) on the daily chart is at 49.82; it stays neutral and does not show any pergence against the price. The daily MACD is bearish and it is below the signal line.

Nifty 50ETMarkets.com

Nifty50 formed a black-bodied candle on the daily chart; apart from this, no other formations were noticed on the candles.

The fabric of the markets has been highly stock-specific over the past couple of weeks. It is likely to remain this way at least for the immediate near term. We are unlikely to see any sectoral dominance from the relative performance point of view. We will see those stocks outperforming whose results are out of the way, and whose Relative Strength against the broader markets is improving. The midcap universe is likely to continue outperforming relatively against the broader market. We recommend staying highly stock-specific, avoiding shorts, and keeping leveraged positions to modest levels. A cautiously positive outlook is advised for the day.

(Milan Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of EquityResearch.asia and ChartWizard.ae (ChartWizard, FZE) and is based at Vadodara. He can be reached at milan.vaishnav@equityresearch.asia)

Day Trading Guide: 2 stock recommendations for Wednesday

Aditya Agarwala, YES Securities

Nifty50 closed marginally in the red following a sharp recovery in the previous session as bears made sure the index stays below the 20-DMA line placed at 18,050, which is acting as a key hurdle on the upside. Further, heading into the weekly expiry session and auspicious Muhurat trading, Nifty50 has entered a narrow trading range between 17,800 and 18,050. A sustained trade above 17,800 could trigger an up move, taking the index higher to levels of 18,050 where bears continue to maintain selling pressure. However, failure to hold onto the lower end of the range, i.e. 17800 could resume fresh selling dragging Nifty50 lower to the levels of 17,700-17,600.

Equity recommendation


HDFC Bank

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Stock score of Oberoi Realty Ltd moved down by 1 in a month on a 10-point scale.

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BUY at CMP Rs 1607
Target: Rs 1890
Stop Loss: Rs 1560
The stock has turned upwards after taking support at the trendline and the 50-DMA. Further, volumes have been good in the buying, as bullish candlestick following the hammer candlestick suggesting bullishness. Moreover, RSI has formed a positive reversal confirming the uptrend.

Oberoi Realty


BUY at CMP Rs 972

Target: Rs 1070
Stop Loss: Rs 920
The stock is on the verge of a breakout from an Ascending Triangle pattern neckline suggesting bullishness dominant. Further, RSI moving back above the 60-level confirms the uptrend.

(The author, Aditya Agarwala is Senior Technical Analyst at YES Securities. Views are his own.)

Buy Tata Motors, target price Rs 522: ICICI Direct

ICICI Direct has buy call on Tata Motors with a target price of Rs 522. The current market price of Tata Motors Ltd. is Rs 485.7.

Time period given by analyst is Intra Day when Tata Motors Ltd. price can reach defined target.

Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 160603.29 Crore) operating in Auto sector.

Tata Motors Ltd. key Products/Revenue Segments include Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 62245.73 Crore, down -7.08 % from last quarter Total Income of Rs 66988.05 Crore and up 14.92 % from last year same quarter Total Income of Rs 54163.22 Crore. Company reported net profit after tax of Rs -4476.61 Crore in latest quarter.

Investment Rationale
Bullish Pennant continuation pattern offers fresh entry opportunity, MACD in buy mode.

Promoter/FII Holdings
Promoters held 46.41 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.35 per cent, DIIs 13.3 per cent.

Petronet LNG stock price down 0.39 per cent as Sensex slides

Shares of

Petronet LNG

Ltd. fell 0.39 per cent to Rs 231.15 at 01:05PM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap down start to the session.

As per data available on BSE, total traded quantity on the counter stood at 36,886 shares with a turnover of Rs 0.85 crore till 01:05PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 11.14, while the price-to-book value ratio stood at 2.86.

Return on equity (ROE) was at 24.89 per cent, according to exchange data. The stock hit an intraday high of Rs 232.65 and a low of Rs 229.65 during the session and quoted a 52-week high price of Rs 275.25 and a 52-week low of Rs 211.5.

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The stock’s beta value, which measures its volatility in relation to the broader market, stood at 0.66.

Technical Indicators

The 200-DMA (day moving average) of the stock stood at Rs 233.76 on November 02, while the 50-DMA was at Rs 231.55. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend. If it trades between 50-DMA and 200-DMA, then it suggests the stock can go either way.

The Relative Strength Index (RSI) of the stood at 49.11. The RSI oscillates between zero and 100. Traditionally, a stock is considered overbought when the RSI value stands above 70 and oversold when it is below 30.

Promoter holding

As of 30-Sep-2021, promoters held 50.0 per cent stake in the company, while overseas investors held 32.13 per cent and domestic institutional investors had 4.65 per cent.

Add Ajanta Pharma, target price Rs 2440: HDFC Securities

HDFC Securities has add call on

Ajanta Pharma

with a target price of Rs 2440. The current market price of Ajanta Pharma Ltd. is Rs 2136.05. Time period given by analyst is one year when Ajanta Pharma Ltd. price can reach defined target. .

Ajanta Pharma Ltd., incorporated in the year 1979, is a Mid Cap company (having a market cap of Rs 18342.12 Crore) operating in Pharmaceuticals sector.

Ajanta Pharma Ltd. key Products/Revenue Segments include Pharmaceutical Products, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2021.

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Stock score of Ajanta Pharma Ltd is 7 on a scale of 10. View Stock Analysis »

Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 914.34 Crore, up 17.13 % from last quarter Total Income of Rs 780.62 Crore and up 26.86 % from last year same quarter Total Income of Rs 720.76 Crore. Company has reported net profit after tax of Rs 195.94 Crore in latest quarter.

Investment Rationale
Ajanta’s Q2 revenue/EBITDA came in 8%/9% ahead of expectations, primarily on account of robust growth in Indian and African businesses. EBITDA margin, at 29.7%, was broadly in line as higher other expenses were offset by savings in staff cost. The company has guided towards higher opex of ~INR2.25bn per quarter vs. the average run-rate of ~INR2bn in preceding quarters, which is likely to offset some benefits on account of operating leverage. However, the growth outlook for the branded generic business, such as the India, Africa (outperformance to continue) and US generics business (new launches led), remains strong. The brokerage expects 15%/16% revenue/EPS CAGRs over FY21-24e. It revises EPS by 4%/-5% for FY22/23 to factor in Q2 beat/ margin moderation and roll forward to Sep’23 EPS to arrive at a TP of INR2,440/sh, based on 23x Sep’23e EPS.

Promoter/FII Holdings
Promoters held 70.34 per cent stake in the company as of 30-Sep-2021, while FIIs owned 8.72 per cent, DIIs 12.07 per cent.