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On the technical charts, the RSI of the stock stood at 43.0.

Tata Consultancy Services (TCS) on Wednesday reported a 16.9% year-on-year (YoY) rise in its March quarter revenue at Rs 59,162 crore while profit rose 14.76% YoY to Rs 11,392 crore

Mahindra Logistics’ revenue is expected to grow 24% YoY to Rs 1349 crore, led by strong growth in auto segment and consolidation of numbers from Rivigo B2B division. EBITDA margins are expected to remain rangebound at 5% (due to negative impact from loss making Rivigo B2B acquisition).

The Relative Strength Index of the stock stood at 53.26 on Thursday.

So therefore still stick with the companies where the balance sheet quality is very good and there are honestly both large caps as well as some small midcaps which are niche city-centric players like in Bangalore etc. which are quite decent and where the sales growth is still going on quite well.

CEO transition timelines moving earlier as well as pent-up elements from deal deferrals can provide a positive catalyst for H2FY24E.

Jubilant Foodworks, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 28600.99 Crore) operating in Tourism & Hospitality sector.

Amid all this, it is natural for investors to believe that they would be better off staying away from equities. But this argument has a flaw - we are looking at hindsight and trying to predict the future.

Tracking the momentum, the stock hit a fresh 52-week high of Rs 450 on April 12, 2023. Short- or medium-term traders can look at buying the stock now or on dips for a possible target above Rs 600 in the next 6 months, suggest experts.

A total of 7,492 shares changed hands on the counter till 12:24PM (IST)