In a volatile session on December 5, the Indian equity market closed higher, with Nifty surpassing 24,700 for the fifth consecutive session, driven by broad-based buying except in the realty sector. The Sensex rose by 809.53 points to 81,765.86, while Nifty gained 240.95 points to close at 24,708.40. Key gainers included TCS, Infosys, and Titan Company, while SBI Life Insurance and Bajaj Auto were among the notable losers, as investors remained cautious ahead of the Reserve Bank of India's policy announcement.
On Monday, traders are advised to consider strategies for stocks including Ashok Leyland, Mastek, Krsnaa Diagnostics, Federal Bank, Trent, and Coromandel International. Additionally, there is an option to receive push notifications for relevant content and transaction updates.
Ramkrishna Forgings has seen a 33% increase in share value in 2024, significantly outperforming the Nifty 50"s 8% rise. UBS projects a potential upside of nearly 60%, setting a target price of ₹1,500, driven by factors such as EV penetration, recent acquisitions, and growth in various sectors. The company reported a 17.2% revenue growth to ₹1,054 crore and a net profit surge of 131% to ₹190 crore in Q2 FY24, bolstered by a one-time gain from a subsidiary sale.
Nifty companies reported a 4% year-on-year profit growth in Q2, marking the second consecutive quarter of single-digit growth, driven by SBI, Hindalco, ONGC, ICICI Bank, and Axis Bank. However, underperformance from BPCL, JSW Steel, and others offset gains, with consumption and asset-quality stress in BFSI sectors noted as weak spots. FY25 earnings projections have been downgraded by 7%, with a mere 5% growth expected, the weakest since FY20.
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