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The spike in commodity prices following Russia’s invasion of Ukraine, spiralling inflation, and steep rate hikes by central banks hurt consumption significantly and hurt consumer durables and consumer discretionary firms.

Adani Group said that the timing of the report was suspect and seems to be directed at sabotaging the Rs 20,000 crore follow-on public offer (FPO) by Adani Enterprises Ltd (AEL) that ends January 31.

The emphasis will be high on levers to increase margins, especially noting that pricing increase is difficult in the current environment and trade-offs involved given aggressive cost controls. The brokerage expected investor to focus on the reasons for revenue growth underperformance versus peers, underwhelming margins despite multiple measures to improve it from recent lows, deal pipeline, pricing leverage, telecom deal momentum, especially related to 5G networks.

"The market has corrected very sharply, not as much in the indices but certainly the individual sectors and stocks have fallen much more which happens in a rising market also is that rising indices do not rise but individual stocks rise much more. Going forward, assuming that my view on the market remains a subdued or a range-bound kind of market, the clear out performance will come from IT and banking."

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Bharat Forge, incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 40226.86 Crore) operating in Auto Ancillaries sector.

The management’s outlook for orders, particularly from the government side, will be closely tracked by investors. This year will be critical from a government-spend perspective given that general elections are scheduled to take place in 2024.

A total of 534 shares changed hands on the counter till 10:36AM (IST)

Price rebound after taking support at 61.8% retracement of previous up move signaling supportive efforts at lower levels.

The counter has witnessed the breakdown from an upward-sloping channel on the longer time frame while witnessing a breakdown of a long consolidation pattern on the shorter time frame with strong volume.