Bata India witnessed heavy accumulation at the bourses after the Company reported good set of numbers, delivering a revenue growth of 8.3% y/y and EPS growth of 36.6%. Besides a strong Q1, the GST Council’s decision to reduce the GST rate on footwear priced upto Rs 1,000 to 5% from the earlier 18% improved investor sentiment. The stock advanced 7.3% on almost six times the 50-day average volume to enter new high ground.
Today’s Action:
Frontline indices get off to a solid start; broader market outperforms.
Daily Market Review:
The Indian key composites pocketed decent gains in today’s session, brushing aside weak global cues.
After trading mildly higher for the most part of the day, a late buying surge sent the Nifty and the Sensex higher by 0.7% and 0.6%, respectively, mainly driven by strength in FMCG stocks. UPL was the top gainer on the Nifty with a gain of 15.5%. Continue reading “Daily Big Picture – GST Rate Cut Pushes Sensex to a New High”
Holding through a stock’s significant decline that could lead to a new potential base is a challenging prospect. Who wants to sit through a potential 15–20% drawdown for an indeterminate period with virtually nothing but a belief that the stock will head higher? Yet that is one way to make long-term outstanding gains with true leaders in a healthy stock market.
Let’s take the example of Minda Industries, which had a big move in late February 2017 that lasted for about a year until its 50-day line break in early February this year. Continue reading “How to Get Outstanding Gains in Leading Stocks? Find These 4 Keys”
Sterlite Technologies surged 10.4% during the week. The optical fibre maker reported stellar numbers in Q1 on Thursday. Net profit jumped nearly two-fold, driven by a solid order book of Rs 26K crore. As a result, the stock reclaimed its 10- and 40-week moving average and it is currently trading at 8% above its pivot price of Rs 307.
Bajaj Finance entered new high ground as the stock rallied 8% on more than 3x the 50-day average volume. Yesterday, the Company reported strong Q1 numbers. Revenue was up 39% y/y whereas net profit jumped 81.4%. Its market cap crossed Rs 1.5 lakh crore. It is currently trading 38% above its pivot price of Rs 1,967.75.
