Synopsis
Tata Elxsi, Amrutanjan Healthcare, JSW Steel, Greenlam Industries, Suven Life Sciences, Vinati Organics and Jindal Steel & Power witnessed strong buying interest from market participants as they scaled their fresh 52-week highs on Friday, signalling bullish sentiment.
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Nifty formed a Doji on both daily and weekly scales.
NEW DELHI: After trading on a volatile note in Friday s session, headline index Nifty formed indecisive candles similar to Doji formations for both Friday s session and for the week gone-by.
Rohit Singre of LKP Securities said Nifty50 has created a good base near the 14,250-14,200 range. “As long as these levels hold up, the structure will remain positive. A stiff hurdle lies in the 14,450-14,500 zone. The index may find fresh strength only above the 14,500 level,” he added.
Sagar Cements considering merger with Sagar Cement (R) globalcement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalcement.com Daily Mail and Mail on Sunday newspapers.
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MUMBAI: Cement stocks are likely to gain this week as prices of the primary building material are expected to rise by Rs 15-30 per bag due to strong demand across states and to negate the increase in input costs. The price rise, coupled with improved capacity utilization in the March quarter, would result in upgrades of earnings estimates, according to analysts.
“Dealers suggest prices may be hiked by another Rs 15-30 per bag across most regions effective from the first week of April, led by continued strong demand and necessitated by cost escalations,” said Krupal Maniar, analyst, ICICI Securities. “Consensus of FY22-23 estimated earnings upgrades are likely to continue, given strong demand, price hike in March coupled with the announced price hikes, would ensure sustainability of YoY margins in the June 2021 quarter.”
Sagar Cements expects commissioning of its greenfield units by Q2FY22
January 27, 2021
Sreekanth Reddy, Joint Managing Director, Sagar Cements×
Sagar Cements Ltd is expecting Greenfield units of Satguru Cement Pvt. Ltd and Jajpur Cements Pvt. Ltd to be commissioned in the second quarter of next fiscal.
According to Sreekanth Reddy, Joint Managing Director, Sagar Cements the work ”is progressing as per schedule” and the company expects the units to be commissioned before the end of Q2 FY22.
Hyderabad-based Sagar Cements announced the acquisition of 100 per cent stake in Odisha-based Jajpur Cements Private Ltd (JCPL) besides a 65 per cent stake in Indore-based Satguru Cements Private Ltd (SCPL).
Synopsis
Analysts expect volatility to remain high in the coming two sessions as the January derivatives contracts are scheduled to expire on Thursday.
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NEW DELHI: Nifty had a gap-up opening on Monday but ended up shedding almost a per cent in intraday trade. The headline index formed a long bearish candle on the daily charts as the 50 pack continued it s losing streak in the third consecutive session.
Analysts expect volatility to remain high in the coming two sessions as the January derivatives contracts are scheduled to expire on Thursday.
Rohit Singre, Senior Technical Analyst at LKP Securities said: The index has breached all good support which means if the index manages to sustain below today’s (Monday’s) low, then the index may hit 14,000 mark soon which is a strong support on the downside. On the higher side, the index found good resistance in the 14350-14440 zone and it would be the profit booking level for longs.