Leading NBFC Bajaj Finance is expected to post healthy growth in its core earnings for the first quarter ended June 2024. Net interest income for the reporting June quarter is likely to grow 26% year-on-year, according to an average estimate of four brokerages. Profit after tax (PAT), meanwhile, is seen rising 16% year-on-year. The company’s … Read more
Investors looking for safer bets on Dalal Street could consider HDFC Bank but they would be better off putting money in the stock in installments over the next few months. This is because the stock, despite cheaper valuations compared to its historical levels, could linger at these levels in the absence of visible triggers, said … Read more
“The IT sector is currently a dark horse, influenced more by the global economic regime than India’s policy framework,” says Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS. In an interview with ETMarkets, Kulkarni said: “The stock markets will likely trend upward in the next six months. The upcoming budget will be a critical factor … Read more
The Indian market hit a fresh record high on Thursday amid short covering following RBI’s record dividend payout to the government that could lead to better fiscal position and softer bond yields. The S&P BSE Sensex rose nearly 1,200 points to hit a record high of 75,499 while the Nifty50 closed at 22,967. “There was … Read more
Indian market is expected to trade higher on Thursday tracking positive global cues. The Nifty future closed positive with marginal gains of 0.27% at 22666 levels on Wednesday. India VIX was down by 1.56% from 21.81 to 21.47 levels. On the weekly options front, the maximum Call OI is placed at 23000 and then towards … Read more
“If we analyse the call put concentration data also, the put writers are aggressive at 22,400, 22,500 strikes so that clearly shows that base is now shifted higher and 22,400 is likely to act as a support area for any kind of minor dip if we get in the markets,” says Rajesh Palviya, Axis Securities. … Read more
“We do expect that this rally can extend further. It is not a one-day rally and as we have already marked a new all-time high, overall if we analyse the structure, the short covering action was clearly there,” says Rajesh Palviya, Axis Securities. Let us talk about that record high rally that we saw on … Read more
Neeraj Chadawar, Head of Quant Strategy, Axis Securities, says “we firmly believe that the Indian economy is rightly placed and continues with the growth momentum and we continue to believe in double-digit returns. Given the valuations are stretched at current juncture, we believe that bottom-up theme is the best place to identify the stock based … Read more
