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Nifty Outlook

Markets ended marginally higher in a highly volatile trading session, taking a breather after the recent up move.The benchmark opened gap up mainly in response to the dovish stance from the US Fed. However, it could not sustain those gains for long and witnessed a sharp decline. Finally, the Nifty index hovered in the range for most of the session and ended marginally higher by 0.2% to close at 14,895 levels. On the sector front, metals pack posted exceptional gains of over 4% while other traded mixed.

We might see further consolidation after the recent up move however the bias would remain on the positive side. On the earnings front, participants will be closely eyeing the numbers from Reliance industries on Friday. Meanwhile, we suggest using dips to add quality stocks from banking, pharma and metal space.

News

* HUL’s consolidated revenue grew by 35% YoY to Rs 12,433cr in Q4FY21. Its profit rose 45% YoY to Rs 2,190cr.

* Bajaj Auto reported Q4FY21 numbers, its revenue grew by 26.1% YoY at Rs 8,596.1cr. Its net profit was up by 1.7% YoY at Rs 1,332.1cr.

* Laurus Labs reported 68.3% YoY rise in revenue at Rs 1,412 cr for Q4FY21. Its net profit grew by 169% YoY to Rs 297cr.

Derivative Ideas

AARTIIND MAY FUTS added around 9% in open interest as LONG buildup was seen in it till closing time. Current chart pattern also indicates further up move in its price. We suggest buying AARTIIND in cash as per below levels.

Strategy:- BUY AARTIIND BETWEEN 1535-1540 STOP LOSS 1490 TARGET 1620.

Investment Pick - Crompton Greaves Consumer Electricals Ltd.

Crompton Greaves Consumer Electricals (CGCE) is engaged in manufacturing and marketing of a wide range of consumer products ranging from fans, light sources and luminaires, pumps and household appliances such as geysers, mixer grinders, toasters and irons.

We like CGCE for its strong growth potential, consistent rise in market share in its key segment coupled with healthy dividend pay-out ratio, strong cash flow generation, lean working capital cycle and robust return ratios. We recommend a Buy on the stock with a target price of Rs. 479.

Buy Crompton Greaves Consumer Electricals Ltd @ 9-12 Months CMP 380.1 TGT 479

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