MENU

Published on 30/07/2021 10:41:22 AM | Source: Religare Broking Ltd

Markets traded firm and gained over half a percent on the day of monthly derivatives expiry - Religare Broking

Posted in Market Outlook| #Market Outlook #Religare Broking Ltd

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Nifty Outlook

Markets traded firm and gained over half a percent on the day of monthly derivatives expiry. The dovish monetary policy from the US Fed boosted sentiment and triggered a gap-up start. The benchmark inched gradually higher as the session progressed however buying was restricted to select index majors. Consequently, the Nifty index ended with decent gains of 0.5% to close at 15,778 levels. Amongst the sectors, Metal was the top outperformer ending with strong gains of 5.5%. Besides, realty, IT and banking too ended with healthy gains. The broader markets outperformed wherein the midcap ended higher by 0.8% whereas the smallcap was up 0.9%.

It’s prudent to stick with a stock-specific trading approach until we see a decisive trend in the index. Earnings combined with global cues will continue to dictate the trend.

 

News

Colgate Palmolive has posted 12% increase in its Q1FY22 revenue at Rs 1,166cr against Rs 1,041cr, YoY. The net profit of the company also rose 17.7% at Rs 233.2cr against Rs 198.2cr in Q1FY21.

* The company has reported a revenue at Rs 59.4cr versus Rs 12.7cr, YoY. The net loss was at Rs 219.4cr versus loss of Rs 225.7cr YoY.

* Jyothy Labs posted its consolidated revenue which was up 21.4% at Rs 525.4cr against Rs 433cr in Q1FY21. The net profit went down 19.6% at Rs 40.2cr versus Rs 50cr, YoY.

 

Derivative Ideas

JINDALSTEL AUG FUTS added around 16% in open interest as LONG buildup was seen in it. Current chart pattern also indicates further up move in its price. We suggest buying in JINDALSTEL in cash as per below levels.

Strategy:- BUY JINDALSTEL BETWEEN 432-435 STOPLOSS 425 TARGET 455

 

Investment Pick - CSB Bank Ltd.

Established in 1920, CSB Bank Ltd (known as The Catholic Syrian Bank) is one of the oldest private sector banks in India. It has a significant network in Kerala, Tamilnadu, Karnataka and Maharashtra. At present, 90% of the branches are in these four states and the remaining 10% is spread across other states in India. The bank operates mainly in four business areas namely SME banking, retail banking, wholesale banking and treasury operations.

We believe CSB bank is well placed as it has a strong gold loan book, prudent management team and steady financials with improved asset quality. Further, a well-planned strategy like betting on less risky businesses such as agriculture, food & service, etc. and avoiding risky unsecured loans augurs well for future growth. From a long term perspective, we are optimistic on the company’s growth prospects thus initiating a Buy on the stock with a target price of Rs 432.

Buy - CSB Bank Ltd @ 9-12 Months CMP 343.8 TGT 432.



To Read Complete Report & Disclaimer Click Here

 

Please refer disclaimer http://ex.religareonline.com/disclaimer

SEBI Registration number is INZ000174330

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaime

 

 

 

betvakti elexusbet gorabet maksibet maltcasino milosbet quennbet setrabet atlantisbahis artoscasino dumanbet elitbahis fashionbet favoribahis hiltonbet liderbahis oslobet romabet vegabet yorkbet kalebet bet10bet bahislion bahislion bahislion betpark dakikbet dumanbet fenomenbet holiganbet kalebet kolaybet lordbahis olabahis onwin piabet pusulabet süper10bet vipbahis supertotobet mariobet bahigo bahis siteleri güvenilir bahis siteleri kaçak bahis siteleri betist 1xbet asyabahis betebet betgaranti betlike betvole ligobet pinbahis polobet verabet