Ahead of Market: 10 things that will decide D-Street action on Tuesday
After showing weakness in the last couple of sessions, Nifty witnessed a decent upside bounce on Monday and closed the day higher by 151 points. After opening with a slightly positive note, Nifty continued its upside momentum for the whole session.
ETMarkets Smart Talk: In the result season, go stock-specific in mid & smallcaps: Arpit Jain, Arihant Capital
“As we are into results season, we will see stock-specific performance due to the actual results. In the midcap space, we like GHCL, Tata Chemicals, Vishnu Chemicals & rice exporting companies like KRBL & LT foods. One can also look at Shree Renuka Sugar LTD, Pennar Industries Ltd, Jindal Drilling and Industrial Ltd, RK forge and La Opala RG Ltd.”
In bear grip! 26 of Anil Kumar Goel's smallcap bets down up to 66% from highs
Some of the stocks had delivered solid returns and, despite the steep falls, are still sitting on strong one-year returns, data compiled by Trendlyne suggests. Data showed Samtex Fashions sank 64 per cent from its 52-week high, Dhampur Sugar slumped 55 per cent; DCM Nouvelle plunged 53 per cent over its one-year high.
Sugar stocks tank up to 10% amid reports that govt may curb exports
News agencies on Tuesday reported that the government is going to limit sugar exports, which will help bring down domestic prices but further flame global food prices. Reports said the government may cap sugar exports at 10 million tonnes for the year ending September.
PRAJ IND. & SUGAR STOCKS : Government of India has decided to open a window for 6-Months for inviting fresh applications from project proponents to set up new distilleries or expansion of existing distilleries to produce 1-G ethanol.
Total income, however, fell to Rs 964.27 crore in the third quarter of this fiscal year from Rs 1,110.07 crore in the corresponding period of the previous year, according to a regulatory filing. During the last fiscal, Dhampur Sugar Mills had reported a net profit of Rs 228.96 crore over a total income of Rs 4,248.96 crore.
Sugar stocks are likely to carry the bullish momentum of the past two weeks as the national policy framework for the sweetener is favourable, with New Delhi continuing to push the ethanol blending programme (EBP) to help offset any supply overhang and lower oil import bills.