Indian equity benchmarks closed higher for the fourth consecutive day on Tuesday, supported by gains in banking, financial, capital goods, and industrial stocks, amid positive Q4 results and expectations of a normal monsoon season. The RBI annual report also suggested that India remains in an advantageous position, despite the uncertain global outlook. The Nifty rose 0.2% to close above 18,633, while the Sensex gained 123 points. The US and European markets remained cautious, with the Nasdaq closing higher. The MACD showed bullish trades on Tata Steel, Marksans Pharma, REC, NTPC, and India Cements, while Samvardhana Motherson, Stove Kraft, DLF, Apollo Hospitals, and GMDC saw bearish signs.

"One word that describes our economy and equity market for FY23 is ‘resilience. We were able to face the tough situation with minimal damage. Indias robust macroeconomic position is a result of multi-year structural policy reforms that enabled growth and high government expenditure in the budget over the last few years," the MarketSmith India report said.

"Despite challenges from the export side and commodity inflation, capital goods companies have clocked strong volumes. In FY23, particularly in the fourth quarter, EPC companies have received strong orders across the board from government capex and power transmission etc.," said Amit Anwani - Research Analyst, Prabhudas Lilladher.

The MACD is known for signaling trend reversals in traded securities or indices. When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward movement and vice versa.

Sameet believes traders can find ample opportunities in the beaten spaces and for investors, this decline would provide opportunity to accumulate quality stocks in a staggered manner.

“If you are not making money in the OEMs and are more into the consolidating phase, how can you make money? You need to go one step back, look at the B2B companies which are providing materials to all of these suppliers. All of these cement manufacturers and that is where you can make money. For example, AIA Engineering is one stock we have been tracking.”

However, despite the highly uncertain global environment, the Nifty stood its ground and protected the important support of 17,200 regions. Domestic brokerage ICICI securities expect the index to undergo range-bound consolidation in the broader range of 18,000 to 17,200

Net profit of the castings and forgings player more than doubled to Rs 352.5 crore from Rs 138.2 crore a year ago.

SAIL was up 1.5 percent at Rs 92.1, the highest closing level since May 5, 2022 and formed decent bullish candle on the daily charts with higher high higher low formation for second consecutive session. It has given a nice breakout of 'Mother Candle' formed on January 2 in previous session and maintained uptrend for yet another session, with strong volumes.

While valuation comfort, robust balance sheets, and strong order inflows determined stock-specific rerating till now, the way forward will move on easing inflation concerns, cooling commodity prices, and peak-out in interest rates being in sight

ICICI Direct is bullish on AIA Engineering recommended buy rating on the stock with a target price of Rs 3240 in its research report dated November 15, 2022.

“Over FY22-24E, Nifty earnings are seen growing at 14.9% CAGR. Keeping the same PE multiple, we now value Nifty at 20,000 i.e. 21x PE on FY24E EPS of Rs 950. On the forward earnings front, the BFSI space witnessed healthy earnings upgrades (led by corporate banks) while marginal upgrades were witnessed in the FMCG, IT & oil & gas space,” ICICI Direct said.

AIA Engineering Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 25691.93 Crore) operating in Engineering sector.

Rupak De, Senior Technical Analyst at LKP Securities, said, “Nifty remained sideways during the session as it failed to give any directional breakout. On the daily chart, the index has sustained above the 50 EMA (17,619), which confirms the positive trend. The momentum indicator is in positive crossover and rising.

Shares of Arfin India will trade ex-split in the ratio of 1:10. The companys shares will be sub-divided from a face value of Rs 10 to Re 1. Also, shares of Compuage Solutions will go ex-rights for the rights issue of eight shares for every 25 shares held offered at the rate of Rs 20 per share.

Aarti Industries, Abbott India, Agarwal Industrial Corporation, AIA Engineering, GE Power, Apollo Tyres, Balkrishna Industries, Bharat Forge, CESC, Dish TV, Eros International, FDC, Future Lifestyle, GMR Airports, Grasim Industries, Hinduja Global, JM Financial, Khaitan, Kaveri Seed, Marksans Pharma, MMTC and DCX Systems among others will be announcing results.

AIA Engineering Ltd. key Products/Revenue Segments include Castings, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.

The Adani family said it has completed the acquisition of Ambuja Cements & ACC and has become country's second largest cement player.

“The way the windfall tax part is playing out, is not good and Reliance may not really benefit as much from this as some of the standalone refineries. Anyway the midcap sector and stocks are in far more momentum and it would be good to participate in these names rather than the other OMCs,” says Hemag Jani.

“The way the windfall tax part is playing out, is not good and Reliance may not really benefit as much from this as some of the standalone refineries. Anyway the midcap sector and stocks are in far more momentum and it would be good to participate in these names rather than the other OMCs.”

Nagarjuna Fertilizers and Chemicals, Worldwide Aluminium, Jayant Infratech and Arambhan Hospitality Services are among the companies that will announce their quarterly earnings today.Dangee Dums will go ex-bonus today in the ratio of 1:2 while Escorp Asset Management will go ex-bonus in the ratio of 2:3. Also, GAIL will go ex-bonus today in the ratio of 1:2.

Friday is the record date for dividends by Vedant Fashions (Rs 5 per share), Bengal & Assam Company (Rs 15 per share), Genus Power Infrastructures (Re 0.25 per share), Benares Hotels (Rs 10 per share), JK Agri Genetics (Rs 1.5 per share) and Lambodhara Textiles (Rs 1.5 per share) among others. The stocks went ex-dividend on Tuesday.

ICICI Direct is bullish on AIA Engineering has recommended buy rating on the stock with a target price of Rs 3010 in its research report dated August 10, 2022.

Wall Street's main indexes rose more than 1% on Wednesday after data showing a slower-than-expected rise in inflation in July prompted traders to cut their bets on a third straight 75-basis-point interest rate hike in September.

The Nifty Pharma index was trading 0.46 per cent up at 12999.5.

AIA Engineering Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 22592.09 Crore) operating in Engineering sector.

Bajaj Finance, NTPC, Wipro, ONGC and Adani Ports SEZ were among the top losers on NSE.

The Nifty Realty index was trading 0.0 per cent at 438.6.

The Nifty Auto index was trading 0.04 per cent down at 12922.9.

The Nifty Bank index was trading 0.0 per cent at 38237.6.

United Spirits, Hero MotoCorp, EID Parry (India), Paushak and Unichem Laboratories will have their annual general meetings (AGM) today.The board of eClerx Services will meet today to consider a bonus issue while the board of JBM Auto and Capacit'e Infraprojects will meet today to consider a preferential issue.

Ajit Mishra, VP - Research, Religare Broking, said the recent bounce in laggards like IT and metal has further eased the pressure. "We maintain our positive yet cautious stance and prefer sectors like auto, FMCG and banking for long opportunities."

“The market is now showing signs of witnessing a decisive upside breakout of the important resistance of 15,900 levels in the next 1-2 sessions. A sustainable upmove above 15,900-15,950 is expected to pull the Nifty towards the next resistance of 16,300 in the short term. Immediate support is placed at 15,750,” he said

AIA Engineering Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 20913.18 Crore) operating in Engineering sector.

“We do not have a lot of commodities but whatever we had, we trimmed a significant portion of their weights primarily on valuations because in cyclical upturns, their valuations have started trading at premium valuations compared to their historical bands. We have trimmed that and we are waiting patiently. ”