The SGX Nifty indicates that the Sensex and Nifty are off to a good start today. American market cues were broadly favourable, with the Dow Jones, S&P 500, and Nasdaq all finishing with gains of more than 1% on Friday. According to the shape on the charts, the Nifty will now attain levels of 17,800 on the upside. The Nifty’s immediate support today is at 17,250, while the Nifty’s immediate resistance today is at 17,383.
Today’s top stocks to watch are Tata Motors, Maruti, Shriram Properties, and RVNL, among others.
Tata Motors: Tata Motors shares will be scrutinised as the company’s overall sales came in higher than projected. Year on year, the company’s overall sales increased 1.7% to 90,867 units from 89,343 units.
Maruti Suzuki: The shares of Maruti Suzuki will be in the spotlight today after the company said on Saturday that its total annual sales of 19.66 lakh units in FY23 were the highest they have ever been.In March, the business sold 1.7 lakh units, a 0.2% decrease over the previous year.
Shriram Properties: Shriram Properties shares will be in focus today after Navi Mumbai-based real estate player Aurum purchased a 14.2% interest in the business, or 2.4 crore equity shares, in a block sale at an average price of Rs 55.05 per share. The seller in the block was the Mauritius-based private equity company WSI WSQI V (XXXII).
RVNL (Rail Vikas Nigam Ltd) got a lot of orders, including one for Rs 720 crore to build a 6-lane elevated Kona Motorway in West Bengal.