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A total of 908 shares changed hands on the counter till 10:57AM (IST)

HCL Technologies reported a consolidated net profit of Rs 3,983 crore for the quarter ended March. This is an increase of 11% from Rs 3,593 crore clocked in the corresponding period of last year. The net profit beat the ET Now poll estimate of Rs 3,860 crore.

In the NSE list of stocks with a market cap of over Rs 1000 crore, seven stocks crossed their previous 5-year high value at the close on April 20, suggesting bullishness in counters.

Sandip Sabharwal is optimistic about the growth prospects of large banks in India, particularly ICICI Bank. He also highlights the railway investment theme as strong and suggests identifying stocks that can benefit disproportionately. In terms of IT, while there is a definite slowdown that could persist over the following year, there are specific companies with specific projects or businesses that will stand out.

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The midcap and smallcap indices remain strong with risk or hot money still being present in the market, according to Rahul Sharma, Director at JM Financial Services. Sharma expects the market to head towards the 18,000-18,200 mark with a buy on dips strategy for the 17,500-17,400 range. Sharma advises taking profit after the rally in the pharmaceutical sector and to seek re-entry at a lower price.

Based on the latest inflation print, average inflation for FY24 is expected to be lower than RBI’s FY24 forecast of 5.20%. At 6.5% repo, the real rate based on 1-year forward inflation is upward of 130 bps. Hence, the case for a long pause on repo rate at 6.5% has strengthened.

“Options data suggests a shift in a trading range in between 17400 to 18000 zones while an immediate trading range in between 17500 to 17850 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

Axis Bank, incorporated in the year 1993, is a banking company (having a market cap of Rs 267301.52 Crore).

​Spot gold during the last Akshaya Tritiya on May 3, 2022 fell and fetched a price of Rs 51,510 per 10 gram. Today, the price is around Rs 59,510 which is an appreciation of Rs 8,000 per 10 gram. This translates into a whooping gain of 15.53% in a year.