Market Bizzz

An uptrend signal is indicated when the RSI value crosses above 50 from below.

Represented by a long white (or green) candlestick with no upper shadow and a small or nonexistent lower shadow, it indicates strong buying pressure throughout the session.

Tata Elxsi’s Q2 results are anticipated to show an 8% growth in net sales to Rs 956 crore and a 21% QoQ jump in net profit to Rs 223 crore. Analysts are keenly watching demand outlook, especially in SDS, transportation, media, and communications verticals.

Tata Group shares are in focus as former chairman Ratan Tata passed away at age 86. He was a pivotal figure in the company’s history. Tributes pour in from industry leaders and Prime Minister Modi. Shares of Tata Motors, Tata Steel, and Tata Consultancy Services have risen significantly in 2024. Tata companies will begin reporting second-quarter earnings today.

Dipan Mehta highlights potential trends in various market sectors. He is optimistic about pharma’s short-term growth and believes NBFCs will outperform banks in the coming years. However, he remains cautious about metals and emphasizes the need for careful stock selection. He suggests focusing on sectors with significant corrections and promising outlooks.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

So, I think that bit of the pie for listed players will expand. Between the two, I would like to recommend and even try to buy Hyundai post listing. I do not really invest in IPOs, it is a big waste of time. But Hyundai, if you get it at a good price, it is something you should buy and hold in your portfolio. This is a sector which should do really, really well going forward. So, yes, and Swiggy, I am really not sure even with Zomato, if with all these businesses, Blinkit and everything else that they are doing.

Edelweiss Financial Services has launched a Rs 200 crore public issue of Secured Redeemable Non-Convertible Debentures (NCDs), offering yields of up to 11% per annum. With 12 series of NCDs, the funds will primarily be used to repay existing borrowings. The issue opens on October 7 and will be listed on BSE.

Paramount Dye Tec shares will debut on the NSE SME platform on Tuesday. The net proceeds from the public offer are slated for manufacturing units setup, debt repayment, land registry expenses, and general corporate purposes. The company specializes in recycling waste synthetic fiber into quality yarn, contributing to sustainability and economic efficiency.

Shaun Rein, Managing Director of China Market Research Group, recommends short-term investment in Chinese equities, highlighting a recent government stimulus to boost investor confidence. The Chinese government aims to improve the capital market while avoiding real estate bubbles. Rein anticipates 10-20% growth in the next one to three weeks, urging investors to stay cautious.