Domestic stock markets ended flat in the last session of 2024. The indices started the morning in losses due to negative signals from global markets and negative sentiment. They weakened further with profit booking. At one stage, Nifty fell by 160 points and Sensex by 600 points. After noon, they rebounded as investors bought shares available at attractive prices. Sensex covered the loss of 600 points. Nifty found support at 200dema. On the other hand, the rupee continued to fall. Buying was seen in the pharma, PSU banking and healthcare sectors.
The BSE Sensex, which closed at 78,139 in the previous session, opened at 77,982 on Tuesday. It touched a low of 7,560. Then it rebounded and reached a high of 78,305. Finally, it lost 109 points and closed at 78,139. Today, the NSE Nifty, which opened at 23,560, reached a low of 23,460 and a high of 23,689. Finally, it closed at the opening level of 23,644. The Nifty Bank fell 92 points and settled at 50,860.
In the Nifty50, 28 companies gained while 22 lost. BEL, ONGC, Kotak Bank, Trent, Coal India were the top gainers. Adani Enterprises, Tech Mahindra, TCS, Infi, SBI Life lost the most. Auto, FMCG, Metal, Pharma, Healthcare, PSU Bank, Consumer Durables, Oil and Gas indices rose. Bank, finance, IT and realty indices rose.
Market breadth on NSE today is in favor of buyers. Out of 2915 shares traded, 1781 gained. 1061 lost. 34 shares reached 52-week highs while 90 reached 52-week lows.
Rupee weakened by 8 paise to settle at 85.62 against the dollar, hitting a fresh low. Antique Morning Report has given a buy call to Varun Beverages as it expands in Africa. ITC Hotels stock is expected to list in the range of Rs. 113-170. WS Industries has received an order worth Rs. 86 crore. Venus Remedies shares rose 3% after Moldova GMP approval for expansion in Eastern Europe. Nuama has maintained a buy call on Jindal Steel with a target price of Rs 1292. Tata Chemicals and GHCL shares rose 6% after the Centre reduced the minimum import price of soda ash. Wari Renewables received a 2 gigawatt solar order from Jindal Renewables. Citi Research has maintained a buy rating on Vodafone Idea shares, saying there is a possibility of a 68% rise.
1. Avanti Feeds Ltd. (AVANTIFEED)
Avanti Feeds is a leading manufacturer of prawn and fish feeds in India. Key financial metrics include. The company has demonstrated consistent revenue growth over the past few years, driven by increasing demand in the aquaculture sector. Maintains healthy profit margins, reflecting efficient operations and cost management. Operates with minimal debt, indicating a strong balance sheet and prudent financial management. Holds a significant market share in the Indian aquafeed industry, benefiting from the growing seafood export market.
2. Muthoot Finance Ltd. (MUTHOOTFIN)
Muthoot Finance is one of the largest gold financing companies in India. Key financial metrics include. Shows steady revenue growth, supported by the increasing demand for gold loans. Exhibits robust profit margins, indicative of effective interest rate management and operational efficiency. As a Non-Banking Financial Company (NBFC), it operates with a leveraged model; however, maintains a healthy capital adequacy ratio. Maintains good asset quality with low Non-Performing Assets (NPAs), reflecting prudent lending practices.
3. Lux Industries Ltd. (LUXIND)
Lux Industries is a prominent player in the Indian hosiery market, known for its innerwear and casual wear products. Key financial metrics include:Consistent revenue growth driven by strong brand presence and expanding distribution network.Maintains healthy profit margins, benefiting from economies of scale and brand loyalty. Operates with moderate debt levels, ensuring financial stability. One of the leading players in the organized hosiery market, with a diversified product portfolio catering to various segments.
4. ITC Ltd. (ITC)
ITC is a diversified conglomerate with interests in FMCG, hotels, paperboards, and more. Key financial metrics include. Steady revenue growth, with the FMCG segment showing significant expansion. Strong profit margins, particularly in the cigarette segment, contributing significantly to overall profitability. Operates with low debt, showcasing a strong balance sheet and financial prudence. Known for consistent dividend payouts, making it attractive to income-focused investors.
5. Jindal Steel & Power Ltd. (JINDALSTEL)
Jindal Steel & Power is a leading player in the steel and energy sectors. Key financial metrics include. Significant revenue growth, driven by increased steel production and favorable market conditions. Improving profit margins due to operational efficiencies and cost management. Has been working on reducing debt levels, with a focus on deleveraging to strengthen the balance sheet. A major player in the steel industry with a diversified product portfolio and significant export presence.
