Saturday, October 24
The third quarter earnings are underway and about 15 companies will announce their quarterly results on Friday. Key results to watch out include from Just Dial, PCBL, CESC Ltd among others.Just Dial Q3 expectationsJust Dial is expected to report 9% year-on-year growth in its revenues at Rs 288 crore in the quarter ended December 2024, according to estimates from Nuvama Equities. Meanwhile, the brokerage expects robust PAT growth of 78% YoY to Rs 163 crore in the same period.EBITDA during the third quarter is likely to grow around 38% YoY to Rs 83.2 crore. "We expect revenue to grow 1% QoQ, while EBITDA margins could improve from 28.8% in Q2FY25 to 28.9% in Q3FY25," the brokerage said.Investors will closely watch management commentary on investment in new businesses as well as the trajector
Equity indices tumbled nearly 1% on Thursday due to heavy selling in market heavyweights as investors turned nervous over earnings growth concerns amid unabated foreign capital outflows.Stocks that were in focus include names like TCS, which fell 1.6% and Tata Elxsi, which declined 0.4% and IREDA, whose shares dropped 3.4% on Thursday.Here's what Kushal Gandhi, Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.TCSThe share price of TCS has recently experienced a decline due to profit booking, trading over 12% lower than its record high of 4,592. The recent selling pressure observed on the daily timeframe has been accompanied by increased selling volume, resulting in the price trading below key moving averages such as the 50
Gold prices rose Rs 250 to Rs 80,550 per 10 grams in the national capital on Friday as rupee hit record low amid consistent buying from retailers and stockists, according to the All India Sarafa Association. The precious metal ended the previous session at Rs 80,300 per 10 grams. However, silver traded flat at Rs 93,000 per kg on Friday. The price of gold of 99.5 per cent purity continuing to shine bright for the fourth straight session by appreciating Rs 250 to Rs 80,150 per 10 grams. It had finished at Rs 79,900 per 10 grams on Thursday. Traders said the rise in gold prices at local market is also propelled by robust overseas demand. Meanwhile, the rupee declined 14 paise and touched the crucial 86-mark for the first time against the US dollar on Friday as it failed to resist pressu
A long negative candle was formed on Nifty's daily chart on Thursday after the formation of a hammer-type candle pattern on Wednesday. The positive sentiment of Hammer is now on the verge of negation. This is not a good sign and one may expect more weakness in the coming sessions.Nifty is currently placed at the downside breakout of the support of around 23,500 levels (previous swing lows). A decisive slide below the said support could open the next downside of around 23,260 and lower in the short term. Immediate resistance is at 23,700, said Nagaraj Shetti.In the open interest (OI) data, the highest OI on the call side was observed at 23,5000 and 23,600 strike prices, while on the put side, the highest OI was at 23,400 strike price followed by 23,300.What should traders do? Here’s what
