HDFC, Bajaj Finance, Avenue Supermarts and other top stocks to watch out for on April 6
Apr 6, 2021
HDFC
Credit: HDFC
Bajaj Finance
It acquired 23 lakh new customers in the March 2021 quarter as compared to 19 lakh in the same period last year.
Credit: Unsplash
Avenue Supermarts
The company behind DMart chain of stores reported standalone revenue of ₹7,303 crore in the March 2021 quarter and has a total of 234 stores.
Credit: Avenue-Supermarts
Maruti Suzuki
Its total production in March 2021 jumped by over 86 percent to 1.72 lakh units as compared to 92,540 units in the previous year.
Credit: BCCL
Jindal Steel and Power
It reported a 61 percent increase in sales in March 2021 year-on-year to 7.86 lakh tonnes, while production was up to 21 percent to 7.3 lakh tonnes.
What do you think will lead the markets higher now and the overall trends?
Three things. A), We have seen the US numbers on the job side. They have learnt to live with Covid and businesses have responded. B) Bond yields have started to fall after hitting a high of 1.75%. C)The US dollar has started to edge lower and for us the issue of the RBI being dovish is already there.
Now there is a scenario where the headline numbers are changing again because of the second Covid wave. This will be just a passing storm. Already 40 lakh people have got vaccinated and by the end of June, most Indians will be vaccinated. So give it some time. There have been some partial lockdowns as tw-week lockdowns have gained credence. but this is the last buying opportunity we have because the businesses which will rebound after these two weeks will be humongous. I am very sure that with election outcomes and the other aspects, May will see a new high on the Nifty. This is the last opportunity to rebuild
Tech query: Petronet LNG consolidates in a wide range
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I want to invest in the stock of Petronet LNG and RBL Bank for the long term. Please let me know the technicals of these two stocks.
Rajesh Reddy
Petronet LNG (₹227.7):
After bottoming out in March 2020, the stock of Petronet LNG was on a medium-term uptrend until it encountered a key resistance in the band between ₹270 and ₹280 in early July 2020. Thereafter, the stock started to consolidate sideways in a wide range between ₹210 and ₹270. The key long-term resistance in the band between ₹270 and ₹280 has been limiting the upside since last July.
Signs of Moderation
Retail ownership of top 500 stocks of BSE saw a sequential decline in December quarter. Is their interest waning?
Illustration by Raj Verma
Stock markets have had a stellar run since their lockdown lows, with the BSE Sensex rising from 25,638 at the peak of the crisis in 2020 to 52,516 in mid-February 2021. Since then, it has been a slow grind, with the index hovering around the 50,000 mark. One of the clearest signs of the earlier euphoria wearing off is the dip in retail ownership of BSE 500 stocks. Consider this. There has been a decline in retail ownership - those holding up to Rs 2 lakh nominal capital - in three out of five stocks in BSE 500 in December quarter. In fact, overall retail ownership of BSE 500 stocks fell from 6.9 per cent in September quarter to 6.8 per cent in December quarter. Individual investors had increased stake in almost two-third (338) companies in July-September. This fell to 207, or 41 per cent, over the next three months.
Shares of financials, including banks, were under pressure on Monday, with the Nifty Bank index, down 3 per cent, hitting an over one-month low after the Consumer Price Index (CPI) inflation hit a three-month high in February 2021, while Index of Industrial Production (IIP) recorded a contraction of 1.6 per cent in January.
The pick-up in CPI inflation and the fall in IIP does not make the Monetary Policy Committee’s (MPC) task any easier. While we hope that IIP would return to positive territory in February, we expect inflation to edge up further to around 5.4 per cent in March. Accordingly, we expect the MPC to maintain status quo at its Apr’21 policy meeting, the Motilal Oswal Securities said in a note.