Cummins India s impressive Q3FY24 results led to a 10.33% rally in its shares. The company reported its highest-ever quarterly consolidated net profit of ₹455 crore, compared to ₹360 crore in the year-ago quarter, showing a 26.38% YoY improvement.
Cummins India reported its highest-ever quarterly consolidated net profit at Rs 455 crore in Q3FY24, up 26 percent from Rs 360 crore profit reported in the year-ago quarter
The level of 3,000 of the Interglobe Aviation stock was a strong resistance and psychological barrier for Indigo. The stock has been trading below it with compressed volatility for the past one month. However, the stock broke out of this range on Wednesday with good volumes.
Whether it is the bullish or bearish phase of the markets, it always pays to stay with a better quality of balance sheet and in companies which have the ability to withstand the slowdown which every economy faces at different points of time. Especially when valuations are not cheap by any standard, it would be good to stay with large caps if one is thinking of increasing exposure to equity. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.
Among Nifty constituents, 22 stocks have witnessed a long build-up and 23 stocks have witnessed a short-covering rally. While 4 stocks have witnessed short build-up and 1 stock saw long unwinding.