Profit Sheets

Focus on financial results, Profits for Pharma, Losses for Cement! Analysts’ estimates

May 17, 2021 08:19 PM

Focus on financial results, Profits for Pharma, Losses for Cement!
Focus on financial results, Profits for Pharma, Losses for Cement! Analysts' estimates, Analysts say investors may be reluctant to take heavy positions in the domestic market this week.

Focus on financial results, Profits for Pharma, Losses for Cement! Analysts’ estimates, Analysts say investors may be reluctant to take heavy positions in the domestic market this week, as they did last week. Trading that is subject to a very low range is expected to continue as the market does not know where it is going. Banks say the sell-off in financial stocks is likely to lead to a negative trend.

The Nifty-50 is expected to find strong support at 14,500. If it does not stay above that level, short-term losses could be corrected to 14,400 or below, say experts. On the other hand, Nifty companies like Tata Motors, Bharti Airtel, Hindalco and Indian Oil Corp will announce their results this week. In this context movements can be predicted in selected scripts. What analysts are saying on various sectors ..

* Vehicle shares will move subject to a very low range. Tata Motors will release the results on Tuesday.

* The movements of selected stocks of telecom companies can be predicted. Investors may receive signals from Bharti Airtel results on Monday.

* Trading may be on shares of selected machine tools. In particular, the impact of the L&T results announced at the close of the market on Friday could be seen in the market.

Also Read: Govt tells companies to protect wages, not terminate workers

* Shares of most IT companies may move in the lower range. However they were unlikely to turn positive as they had been stagnant until recently.

* Oil companies are likely to stabilize this week with an inherently negative trend. Shares of IOC and HPCL, which will announce their results on Wednesday and Thursday, may come to light.

* Bank shares will move subject to a very short range. The Nifty Bank‌ index may move in the range of 31,900-33,000. Federal Bank, Canara Bank, Ujjivan Small Finance Bank and South Indian Bank will announce the results this week.

* Shares of metal and mining companies will remain weak. Traders are likely to reap the benefits in the wake of the recent rally.

* FMCG shares may move in a very short range. This is against the backdrop of weakening expectations from rural areas in the wake of the Corona recurrence.

* Pharma shares may perform better for the third week in a row compared to key indices. Corona pharmaceutical companies are showing optimism; Investors are showing interest in these stocks as the results are also recording strong.

* The losses of cement companies may increase further. Corona restrictions are affecting demand and casting a shadow over their future business.

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NSE Top Gainers/Losers
COMPANY LTP %CHNG VOLUME
INFY
1,417.90
2.03
32,77,464
TECHM 1,053.80
1.88
16,05,542
BRITANNIA 3,606.00 1.79 3,03,919
TATACONSUM 711.50
1.65
23,85,952
HCLTECH 963.70 1.48 19,76,931
COMPANY LTP %CHNG VOLUME
HINDALCO
384.10
-2.76
74,44,638
JSWSTEEL 697.80 -2.51 37,24,317
TATASTEEL 1,106.65
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45,67,284
COALINDIA 153.80
-1.57
53,97,691
SBIN
425.65
-1.53 93,71,553