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| Item Details | Price | ||
|---|---|---|---|
Stock name: Jubiliant Foodworks Limited
Pattern: At a resistance
Time frame: Daily
Observation: The stock had stabilised after a continuous downfall and had made a double bottom formation, indicating exhaustion in selling. Currently the stock is in a range and is trading very close the range high resistance. If the stock closes above 600 levels, we can see some good up-move in this stock.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
News for the day:
1) Q1 FY23 result update: Endurance Tech:
Consolidated Revenue at 2,114 crores, up 1.6% QoQ
Consolidated PBT at 133 crores, down 22% QoQ
Operating profit margin at 11%. OPM has been consistently going down since September 2020, when it was at 18%.
2) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today has approved the proposal of Ministry of Housing and Urban Affairs (MoHUA) for continuation of Pradhan Mantri Awas Yojana-Urban (PMAY-U) up to 31st December 2024 wherein financial assistance is to be provided for the completion of already sanctioned 122.69 lakh houses till 31st March 2022.
3) US CPI data yesterday came at 8.5% Vs. a four decade high of 9.1% in June, giving relief to investors.
4) The Union government on 10th August released Rs 1.17 lakh crores to states as tax devolution. This is in line with the commitment of the government of India to strengthen the hands of states to accelerate their capital and developmental expenditure, the finance ministry said in a statement. The Centre's tax devolution to states is done in 14 instalments every year.
5) Aegis Logistics, Amrutanjan, Asian Granito, Astral, Bajaj Electric, Bajaj Steel, Balaji Amines, Bharat Dynamics, Divis Labs, Elgi Equipments, Eureka Forbes, Finolex Cables, Future Consumer, Godrej Inds., Grasim, Hero Motocorp, India Cements, Naukri, Insecticides India, Jai Corp., Kolte Patil, LIC India, MTNL, Muthoot Finance, Nureca, ONGC, Parle Inds., RCF, Varroc and ZEEL are amongst the companies that will be declaring their results tomorrow.