Market Bizzz

Asian Paints will announce its quarterly numbers today. Helped by the increase in prices as well as continued gains in market share, the paint manufacturer is expected to log double-digit growth in sales.

Solomon’s comments echoed those of JPMorgan & Co CEO Jamie Dimon in expressing caution about the economic outlook. Their counterpart at Bank of America Corp, Brian Moynihan, has been more optimistic, pointing to the healthy finances of consumers and businesses.

Although Musk has said Tesla “does not have a demand problem”, the company’s latest report on deliveries showed that it made 22,000 more EVs than it delivered to customers in the third quarter. It blamed the rise in inventory on transportation-related problems.

The U.S. dollar was little changed on Wednesday and hovered close to the weakest level in almost two weeks. It, however, hit another fresh 32-year high of 149.34 yen overnight, before stabilising at 149.16 amid risk of intervention from the Japanese authorities.

The stock has witnessed a sharp breakout from its 200-Day average with strong volumes after a double bottom formation near 195 levels. It should face some resistance at 270 and a crossover of the same would extend the up move to 310-320 levels over the next few months. RSI has pierced upwards on the weekly candle indicating the positive momentum to continue from current levels.

“UPL is a Nifty name and it has been down partly because of fears that their performance in Europe will be weak. However, the other geographies in which it operates look very strong including India. The stock trades at a very low valuation of about 9 times for a business of its size and a company of its size. The stock clearly offers sufficient upside over the next six to 12 months. ”

Bata India Ltd. key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2022.