Fed presidents Thomas Barkin, Esther George, Raphael Bostic, Patrick Harker speak at various events on Tuesday. Investors will also eye U.S. retail sales data, due later today, which will likely show an acceleration in October as consumer demand remained resilient.
BUY Acrysil: YES Securities
Acrysil Ltd registered a strong quarter wherein the company reported 58% Y-o-Y sales growth on account of strong demand for Quartz sinks in overseas markets owing to a sharp uptick in home furnishing trend backed by a shift in demand from stainless steel sinks to Quartz sinks. This trend will continue and the share of Quartz sinks to total global kitchen sinks is likely to expand from 10% to 20% over the next five years. With Acrysil being one of the only 4 global manufacturers of Quartz sinks via German technology, Acrysil is likely to report volume growth of 33% CAGR over FY21-24.
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YES Securities recommends REDUCE on Vodafone Idea
Some return of stability for the company
Overall, it delivered improved operating performance in terms of 4G addition and ARPU growth. 2G to 4G migration would drive ARPU increase but a generalized tariff hike is required to improve the health of the company. It needs capital infusion for augmenting the capital expenditure in its network infrastructure. The net debt at ₹1.94 trillion remains high (Net debt/Ebitda (FY21) =11x). REDUCE stock with a revised target price of ₹9/share.
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Nifty broader market indices
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Market view: ICICI Securities
Equity benchmarks started the truncated week on a flat note as Nifty gained 7 points to settle at 18109. The market breadth remained weak with A/D ratio of 1:1.9. Sector-wise, pharma, FMCG outshone while metal, PSU bank relatively underperformed.
Technical Outlook
The Nifty started Monday’s session on a positive note and approached the upper band of consolidation placed at 18200. However, profit booking form higher levels dragged index below 18100 mark. As a result, daily price action formed a bear candle with sizable upper shadow carrying higher high, indicating breather at higher levels amid stock specific action. In the process, index retraced 61.8% of October decline (18604-17613)
· The absence of faster pace of retracement on either side indicates extended consolidation in the range of 18200-17700 range which would offer…
Read More: Sensex down 150 pts, Nifty sub-18,100; metals rise, banks weigh