Tata Elxsi entered new high ground today on the back of solid Q1 earnings. Revenue was up 18%, whereas net profit rose 41%. EBITDA margin was strong as it expanded 260 bps to 27.9 %. The stock jumped 6.3% in today’s session. It is currently trading 16% above its pivot price of Rs 1,259.90.
Today’s Action:
Key indices erased their early gains, broader market bucks the trend.
Daily Market Review:
After Tuesday’s rally, benchmark indices continue their bullish momentum by opening on a positive note. But, late day selling played the spoilsport and erased most of their gains.
In the end, the Nifty was down 0.02% whereas the Sensex posted a minuscule gain of 0.1%. Earlier in the day, the Sensex hit a record high while the Nifty climbed 11,150 level. This is the third consecutive trading session for the Sensex to touch a new high.
Continue reading “Daily Big Picture – Sensex Hits Record High For Third Straight Day”
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• Will the Rally Run Out of Fuel Anytime Soon?
Bajaj Electricals witnessed heavy-volume buying for the second straight session, as investor sentiment remained buoyant following the GST tax rate cut on consumer durables. The stock jumped 9.9% on more than 3x the 50-day average volume in today’s session. It closed 10% below its 52-week high of 705.80.
Today’s Action:
Benchmark indices extend their rally, broader market outshines.
Daily Market Review:
Volatility continued to plague the Indian market as frontline indices bounced back strongly from negative territory.
Amid strong Asian cues, benchmark indices opened on a positive note, but erased all its gains to dive lower. However, late buying pushed the Nifty and the Sensex higher by 0.5% and 0.3%, respectively. The Sensex touched a record high while the Nifty closed above 11,100 level.
Continue reading “Daily Big Picture – Sensex Hits Record High, Small Caps Lead Gains”
