Expect sales to bounce back to normal levels in Q2: Elgi Equipments Ltd
However, sales realisation was affected in the United States market due to temporary disruption caused by the ongoing ERP implementation. The business performance in the Middle East and Africa, Australia and South-East Asian countries were 'satisfactory', the company said.
Trade Spotlight | Your trading game plan for Elgi Equipments, MTAR Technologies, NCC today
NCC hit multi-year highs and formed strong bullish candlestick pattern on the daily scale with healthy volumes. The stock has seen a breakout of small consolidation as well as upward sloping resistance trendline adjoining highs of June 5 and July 6, which is a positive sign.
Ahead of Market: 10 things that will decide D-Street action on Thursday
“The range-bound movement in the Indian indices was influenced by the likelihood of subdued IT earnings. While optimism about moderation in US inflation supported the broad index. Further, an uptick in domestic food inflation on the back of mandi prices trending above MSP and muted Kharif sowing forced the investors to be cautious. Monsoon progress and the Kharif sowing trend in July are the keys to the future inflation trend,” said Vinod Nair, Head of Research at Geojit Financial Services
Breakout Stocks: How Elgi Equipments, JB Chemicals and Delta Corp are looking on charts for Thursday’s trade
Sectorally, buying was seen in realty, healthcare, and oil & gas stocks, while selling was seen in IT, telecom, utilities, and consumer durable. Stocks that were in focus include names like Elgi Equipments, which was up 7%, J.B Chemicals & Pharmaceuticals, which gained over 6% to hit a fresh 52-week high, and Delta Corp, which fell more than 23% on Wednesday.