Thursday, April 24
We are in the middle of the third quarter earnings season where about 11 companies will announce their quarterly results on Tuesday. Key earnings to watch out include from HDFC AMC and Network18.So far, IT companies have announced their quarterly results, which are mostly in line with expectations. The quarter is likely to moderate for India Inc with banks expected to see another soft quarter.HDFC AMC Q3 expectationsHDFC AMC is likely to report a high double-digit growth in revenues and profitability during the third quarter. Kotak Equities estimates the profit to rise by 21% YoY (year-on-year), while revenues may also gain 21% YoY.The brokerage is building in a 3% QoQ increase in QAAUM in 3QFY25 for the domestic MF business, reflecting the decline in equity indices, offset by strong net i
Nifty formed a small positive candle on the daily chart on Tuesday with a gap-up opening and a long upper shadow. Technically, this indicates an upside bounce in the market with a lack of strength to sustain the highs.The negative chart pattern like lower tops and bottoms is intact on the daily chart and the current upside bounce could possibly open another lower top formation in the short term. On further upside, Nifty could encounter a strong hurdle at the recent down gap of January 13 around 23,350 levels. The near-term trend of Nifty remains weak and we expect this upside bounce could be a sell-on-rise opportunity around 23,350 levels. Immediate support is at 23,050 levels, said Nagaraj Shetti of HDFC Securities.According to the open interest (OI) data, the highest OI on the call side
