Wednesday, April 23
The third quarter earnings season is underway and about 24 companies will announce their quarterly numbers on Wednesday. Key results to watch out include from HDFC Life, L&T Tech and Bank of Maharashtra.Apart from the above, companies like CEAT, Nelco, Oriental Hotels, Indiabulls Enterprises, Aeroflex Industries, Oracle Financial and several others will also declare their results.HDFC Life Q3 expectationsLeading life insurance company HDFC Life is expected to report healthy growth in its profitability during the third quarter. The profit is seen rising 21% year-on-year (YoY) to Rs 443 crore, according to estimates from Emkay. Meanwhile, Motilal Oswal expects the profit growth to be 19% YoY during the reporting period.There are no other estimates on the company's third quarter profit an
A small red candle was formed on the daily chart of Nifty on Wednesday, with minor upper and lower shadows. This market action usually signals a choppy movement in the market with a positive bias.The negative chart pattern like lower tops and bottoms is intact and the present pullback could be in line with the new lower top of the pattern. But the lower top reversal needs to be confirmed at the highs. The near-term trend of the Nifty is still weak. A sustainable move above the hurdle 23,300-23,350 levels could further strengthen the upside bounce in the market. At the lows, 23,050 is going to be a crucial support for the market, said Nagaraj Shetti of HDFC Securities.According to the open interest (OI) data, the highest OI on the call side was observed at 23,300 and 23,200 strike prices, w
