Stocks In Focus Today: During trading today, focus will be on these stocks including Titan, IDFC and HDFC Bank.
Stocks In Focus Today: Trading will start in the domestic market today amid weak global signals. Domestic equity benchmark indices closed with a fall a trading day ago. According to Dr. Ravi Singh, Vice President (Research Head), Share India, today Nifty has opened at the level of 17723 and can trade in the range of 17700-18000 in intra-day. Nifty may have to face resistance today at 17880 and then at 17950. It will get support at the level of 17750-17000. The focus will be on DCB Bank, Bank of Baroda, Titan, IDFC, Zee Entertainment, HDFC Bank, Sterling & Wilson Renewable Energy Limited and Deccan Bearings during business today. At the same time, market analysts of Reliance Securities are betting on Bajaj Auto, Granules India and Mind-Tree in the intra-day today.
Today focus will be on these stocks
- DCB Bank: The central bank RBI has approved the re-appointment of Murali M Natarajan as MD and CEO for two years.
- Bank of Baroda: The bank has executed a sale purchase agreement for the entire sale of 14 per cent in India SME Asset Reconstruction Company (ISARC).
- Titan: The jewelery business of this company included in Rakesh Jhunjhunwala’s portfolio fell 4 percent year-on-year in the March 2022 quarter. In the fourth quarter of the last financial year 2021-22, the company opened 16 new stores. On the other hand, the watches and wearables business grew by 12 per cent on a year-on-year basis and Kanarni opened 34 new stores. In the iCare segment, the company opened 51 new stores in the March 2022 quarter and the company’s business grew by 5 percent during this period.
- IDFC: A consortium of Bandhan Financial Holdings, GIC and ChrysCapital and IDFC has entered into a Definitive Agreement for the acquisition of IDFC Asset Management Company and IDFC AMC Trustee Company from IDFC for Rs 4,500 crore. Apart from this, the board has also approved a dividend of Re 1 per share.
- ZEEL: Invesco Developing Market Funds will sell its 7.8 per cent stake in Zee Entertainment Enterprises Limited (ZEEL) but even after that Invesco will retain 11 per cent stake in Zee.
- HDFC Bank: The board of the bank will consider a plan to raise Rs 50,000 crore through bonds on April 16.
- Results of these companies will come today: Today the results of Sterling & Wilson Renewable Energy Limited and Deccan Bearings will be listed on BSE.
Advice to bet on these stocks in intra-day
According to analysts of Reliance Securities, today the focus will be on Bajaj Auto, Granules India and Mind-Tree in intra-day.
- BAJAJ-AUTO: In this, today in the price range of Rs 3830-3860, by placing a stop loss of Rs 3900, you can invest money at the target price of Rs 3750.
- GRANULES: In the price range of Rs 313- 316, you can bet on the target price of Rs 326 but put a stop loss of Rs 310.
- MINDTREE: In this stock, in the price range of Rs 4360- 4400, you can bet on the target price of Rs 422 by placing a stop loss of Rs 4450.
Today these sectors will be strong and they will be weak
According to Singh, Vice President of Share India, today PSU Bank, Energy, Mid Cap, Metal, Infra and Small Cap can see strength, then there may be weakness in Bank, FMCG, IT, Financial Services, Pharma, Media, Auto and Realty. .