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Som Distilleries and Arrow Greentech are among 12 companies that have delivered multibagger returns and saw profit surges in fiscal year 2023. In the last year, Som Distilleries achieved a nearly 280% return, with a sales increase of more than double, to INR1,498 crore ($202.5m), and it delivered a profit of INR60.3 crore. Arrow Greentech, a packaging firm with a market capitalisation of INR520 crore, returned 279%, with a sales increase of over three times and a FY23 profit of INR12.26 crore. Other multibaggers include companies such as Kamat Hotels, Ujjivan Financial Services and Wonderla Holidays.

The Nifty Auto index was trading 0.21 per cent up at 14705.25.

The stock traded at a P/E multiple of 19.28, while the price-to-book value ratio stood at 1.61.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be in an overall uptrend.

India, which has enabled us to remain resilient despite global challenges. Given our strong GDP and PMI growth numbers, there is every likelihood that whilst this momentum is on, we might touch a new milestone.

With the earnings catching up fast, benchmark indices are back to the long-term median valuation levels (Current Nifty PE at 21.5x). Hence, we are expecting by the H2FY24, we may be on for Nifty 20K levels and beyond.

Indiabulls Housing Finance, Indian Energy Exchange (IEX) and The India Cements are all under an F&O ban for trade on Tuesday, June 13, 2023. The ban occurs when the open interest (OI) reaches 95% of the market-wide positions limits or MWPL and is only lifted when OI falls below 80%. Domestic equities opened positively on Monday with the Sensex closing at 62,724.71 and Nifty50 at 18,601.50, however, investors are cautious representing many economic data points due to be released this week.

Indian markets are expected to open higher on Tuesday, following positive global cues. The S&P BSE Sensex rose by almost 100 points, while the Nifty50 finished at levels above 18,600 on Monday. Traders predicting the range for the options market have identified a broader range of between 18,400 and 18,900, with an immediate range of 18,450 to 18,750. Recommended stocks with a short-term trading horizon include Ashok Leyland, BPCL and NTPC as buys, and Jindal Steel as a sell.

Earlier in May, MRF had fallen short of just Rs 66.50 to hit the Rs 100,000 mark in the spot market but had crossed the psychologically-important level in the futures market on May 8.