Cochin Shipyard, incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 6471.13 Crore) operating in Defence sector.

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

These smallcases have managed to beat their benchmarks. Despite inherent underperformance in the smallcap space, the volatility for such smallcases were much lower than the markets.

“In our case, there is a close-in weapon system, right from radars to command control to guns and a full-fledged system. We actually won that contract. It is yet to get into the order book. At some point in time, by the time the financial year unfolds, those are orders which one can obviously expect in very quick time and quite large. The order sizes are growing.”

​I would argue that India has to still spend at a lot more in terms of defence acquisitions and one of the places where they have done a fairly good job of indigenisation is actually on the naval vessels and coastguard vessels, etc.

“Over the short term, the trend is likely to remain positive. On the higher end, resistance is pegged at 18,900-19,000, whereas supports are placed at 18,700/18,500,” Rupak De, Senior Technical Analyst at LKP Securities, said.

“The export market has picked up for defence companies. Any medium term investor can invest in these companies on any correction, One has to keep in mind that two years down the line we have elections and depending on the new government formation, the new policies will always be a trigger on the government companies.”

“Nifty started flat following global peers and moved up higher by the end of the session. On the higher end, it moved back above 18,200. A bullish harami pattern on the daily chart suggests a recovery in the term. The trend looks sideways to positive. Going forward, 18,200 may provide immediate support below which the index may drift down towards 18,100. On the higher end, resistance is visible at 18,300/18,450,” Rupak De, Senior Technical Analyst at LKP Securities, said.

Grey market premium of the Kaynes Technology trading massive 40 percent higher or at Rs 235 a share. The IPO has set an issue price at Rs 587 a share

Easy Trip Planners shares will trade ex-bonus. Also, the stock will trade ex-split in the ratio of 1:2. The board of Triveni Glass will meet to consider and approve the date, time, and venue for holding the extraordinary general meeting of the company and other related matters.

The counter is in a classical uptrend, but it is travelling in the long consolidation range of Rs 300–350. The counter's structure appears to be good as well, but it closed today's trading session below the 9, 20, and 50-SMA moving averages and above the 100 and 200-SMA moving averages.

Rupak De, Senior Technical Analyst at LKP Securities said, "The Nifty remained strong during the day following a gap-up start. On the daily chart, the index has moved above the previous consolidation. The trend looks positive as long as the 18,300 level is held on a closing basis. On the higher end, it may move towards 18600 over the near term. On the lower end, support is pegged at 18200/18000."

DCX Systems Ltd., RPG Life Sci, Cochin Shipyard, Allcargo Logistics and SecUR Credentials, hit their fresh 52-week highs during the day.

The Nifty Auto index closed 0.3 per cent down at 13040.9.

The Nifty Bank index closed 1.28 per cent up at 42137.05.

Eicher Motors, Hero MotoCorp, Britannia, M&M and SBI were among the top losers on NSE in today's trade.

The Nifty Realty index closed 1.67 per cent up at 448.25.

Titan, Cipla, Britannia, Marico, InterGlobe Aviation, GAIL, TVS Motors, Tube Investment of India, Cummins, Solar Industries, IDFC First Bank, ABFRL and Escorts are among the companies that will announce their results for September 2022 quarter today.

The S&P BSE Sensex fell more than 200 points while the Nifty50 managed to hold on to 18,000 levels on Wednesday.

Cochin Shipyard Ltd., incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 7660.91 Crore) operating in Defence sector.

ICICI Direct believes HAL has a big opportunity in both manned and unmanned combat aerial vehicles, helicopters and aero engines. With the development of Kaveri engine variants for different UCAVs, manufacturing of other aircraft engines and maintenance, repair and overhaul (MRO) of these aircraft and engines, the brokerage believes HAL is a multi-year growth story with significant growth potential.

The top four best-performing stocks - Mazagon Dock Shipbuilders, Canara Bank, Indian Bank and Cochin Shipyard - are all PSUs with monthly returns going up to about 50%. Barring BHEL, which is up almost 29% in a month, all the other top-performing PSU stocks in the top 10 list are either from the defence sector or banks.

"Barring a Black Swan event, the Sensex and Nifty 50 have a high probability of being 10% to 20% higher by the next Diwali. Based on this, Sensex is likely to be closer to 70,000 and Nifty 50 closer to 21,000. However, these are “expected numbers”, i.e. statistical averages of the range of outcomes which are possible."

" For Yes Bank, the near-term support of Rs 15 is looking strong and maintaining above the significant 50 EMA level of Rs 15.90 would imply a further upward move for short-term targets of Rs 18-19 levels. Further, if a decisive breakout occurs, then one can anticipate fresh further upside moves."

"All the items included in the lists will be procured from indigenous sources as per provisions given in Defence Acquisition Procedure (DAP) 2020. This list provides continuous impetus towards self-reliance in defence," MoD said in a release on Wednesday.

"Indian equities have only two headwinds for the next one year; each from economic and geopolitical perspectives. From an economic perspective, rising interest rates could act as a demand dampener for the export business of several Indian companies, thereby impacting the exports. On the geopolitical front, while the Russia-Ukraine war will remain a long lasting warring effort from both sides, we cannot be sure whose ego bubble will burst first, as now the tactical nuclear angle is also being explored."

Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said, “Zooming into the 15-minute chart, we see that the Nifty opened with a down gap, but buying soon emerged from the lows and pushed the index higher. The Nifty thus remains in a short-term uptrend as it has moved above the previous swing highs of 17,429 and made higher bottoms over the last few weeks.”

Changing global dynamics and the government’s ‘make in India’ initiative is likely to augur well for sectors like defence and chemicals, among others.

Nifty formed a long bullish candle on the daily chart but analysts said the headline index is making lower highs and lower lows for the last two sessions.

US stocks ended lower on Friday after a stronger-than-expected jobs report. The Dow Jones Industrial Average fell 630 points or 2.11%, while the S&P 500 fell 2.8% and the Nasdaq Composite plunged 3.8% in value as investors bet that the Fed's inflation fight will continue apace.

Following its impressive show in Q2 business update, Titan shares ended 5.2% higher on Friday and closed a tad below its lifetime closing high. “We believe the stock will surpass its lifetime high of Rs 2,768 and explore uncharted territory, which could take it towards Rs 3,000,” says Jatin Gohil, Technical and Derivative Research Analyst at Reliance Securities, in this interview with ETMarkets. Edited excerpts:

With several stocks in the midcap and smallcap space having seen multi-fold rise in prices, a section of the market believes that one should take calculative bets in these stocks and book profits at current levels.

Momentum indicator Moving Average Convergence Divergence (MACD) showed a bullish trade setup on the counters of Zomato, IDFC First Bank, HCC, SAIL and Indiabulls Housing.

Continuing its daily rising trend, the stock moved towards its highest level of Jan 2020 (Rs 491.70). The key technical indicators are positively poised on long-term as well as medium-term timeframe charts.

Chalet Hotels gained nearly 4 percent to Rs 367, forming strong bullish candle on the daily charts with robust volumes. The stock continued higher high formation for fifth consecutive session.

Nifty established a bearish Harami candle on the daily charts as it closed below its 200-day moving average (DMA). For Nifty traders, analysts suggested, 17,050 would be the key resistance level.

In the Nifty pack, 9 stocks closed in the green, while 41 stocks ended in the red.

The Nifty Realty index closed 1.24 per cent down at 418.75.

In the Nifty50 index, 9 stocks closed in the green, while 41 stocks ended in the red.