On the charts, a small positive candle was formed with gap down opening with upper and lower shadow, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
At this rate, the two GDP values in comparable purchasing power parity terms in 2041 would be $53 trillion for China and $40 trillion for India the paper said.
SGX Nifty was up in green on Friday morning, hinting at a positive start for Sensex and Nifty who have been tumbling down for five consecutive sessions now. Wall Street equity indices closed with gains after a sharp rebound on Thursday, sending positive global cues. On the charts, a small positive candle was formed with gap down opening with upper and lower shadow, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Normally, a formation of such pattern after a reasonable decline or at the swing low could be a part of bullish reversal pattern after the confirmation. Hence, there is a possibility of an upside bounce from the lows,” he added. Analysts caution to go stock specific as the near term trend remains negative.
Bharti Airtel: India’s leading telecom firm Bharti Airtel has two positives that could result in the stock moving higher. The firm has completed 5G trials over a commercial network in Hyderabad, showing that it is fully 5G ready and just awaiting the government auction and approvals. Along with this, the firm also saw the largest subscriber addition in the month of November.
Maruti Suzuki: The carmaker reported a 24% on-year jump in net profits in the third quarter of the fiscal year to Rs 1,941 crore. The stock price did fall on Friday. Sales during the quarter under review were driven by Navratra and Diwali on the back of a 13.4% y-o-y in total volumes at 4,95,897 vehicles.
Laurus Labs: The firm reported a 76% on-year jump in consolidated revenue to Rs 1,288 crore while EBITDA zoomed 189% on-year. Net profit of Laurus Labs jumped 274% during the same period. The generic API division recorded a healthy growth of over 100% for the quarter, the company said.
Indus Towers: Indus Towers said its profit gained 2% on-year basis in the previous quarter to Rs 1,360 crore. Revenue of the firm inched 6% higher from the previous year while EBITDA grew 10%.