Of the total 30 stocks, Dabur India, ITC, Tata Power and Mahindra & Mahindra were the only stocks that ended in green

Now, the Nifty50 has to hold above 17850 zones for an up move towards 18050 and 18123 zones whereas supports are placed at 17850 and 17777 zones,” recommends Taparia.

Key levels would be 17,770-17,800 on the downside and 18,250 zone on the upside which if breached decisively can trigger for fresh upside move

“While the last two trading sessions may have been a bit challenging, this year looks to be good and I hope to build on the foundation created in the last financial year, rather the last year when we had massive outperformance in terms of our markets being stable as compared to sharp declines in some of the other global market,”

"The outlook improved with 18%, 15%, and 5% falls in steel, bitumen, and diesel prices, raising the prospect of faster execution with visible margins in 2023. Business visibility (BTB 3x), order pick-up, and margin visibility are rerating catalysts. We adjust earnings and raise our target prices for our E&C coverage," it added.

CLSA maintained its buy call on IRB Infrastructure and L&T. The global investment bank is of the view that the government CAPEX is likely to pick up ahead of elections.

The company's subsidiary Jaguar Land Rover saw a 15% YoY rise in wholesale sales volumes to 79,591 units in the December quarter, on the back of a ramp-up in production amid the improvement in chip supplies. The luxury carmaker's retail sales grew by 5.9% to 84,827 units. JLR expects free cash flow to be positive by over 400 million pounds in Q3.

“We look at the sectors which are neglected, beaten down and are in the most neglected or untouchable zone, from money managers perspective. These are the areas where you will generate alpha in 2023 and maybe in this decade also. Metals will be one of the themes of 2023. The other two will be PSU and power.”

The company, which has an asset base of over Rs 60,000 crore, has lately been in the limelight for its stock split plan, fund-raising activity and stock rally

It has an asset base of over Rs 60,000 crore in 10 states across the parent company and two Infrastructure Investment Trusts (InvITs), IRB infrastructure said.

Shares of GM Polyplast will trade ex-bonus in the ratio of 6:1, implying eligible shareholders will be getting six shares for every one share held. Ahead of the ex-bonus date, shares of the company ended lower by over 2% at Rs 1210.

IRB Infrastructure Developers shares gained 8 percent to end at record closing high of Rs 314 and formed strong bullish candle on the daily scale with healthy volumes, making higher high higher low for second consecutive session.

Markets welcomed 2023 on high spirits in the absence of global cues. Strong macros and expectations of healthy corporate earnings provided support to domestic equities. Indias manufacturing PMI rose to 13 month high to 57.8 in December, while GST collection too rose by 15% in December 2022 to Rs 1.49 lakh crore, thus, supporting overall sentiments in the market,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Thanks to the steps taken to alleviate debt load and better positioning in the market, the stock is up 38.15 percent in the last one year

The NCD proceeds from refinancing would be utilized for part takeout financing of the existing project loans obtained and provide a significant saving of over Rs 10 crore annually at a revised interest cost of 8.9%, it added.

IRB Infrastructure Developers has been making higher top higher bottom formation on the monthly chart. Primary trend of stock is positive as it is trading above its 100 and 200-day moving average.

This multibagger realty stock has surged from around Rs 51 apiece levels to Rs 322 per share in the last three years, surging around 6 times in this time. Meanwhile, the stock has gained more than 500% from its Covid lows.

Traffic levels across key stretches of IRB are holding up quite well, the brokerage said. The EPC arm is better placed than peers on a strong order book despite weak inflows so far from the NHAI, it said.

In an exchange filing with the bourses, the company reported the toll collection at Rs 365.95 crore in November 2022 as against Rs 262.81 crore in November 2021. On a month-on-month comparison, the collection increased by 6%.

Life Insurance Corporation of India, the country's largest insurer, has increased its stake in HDFC to over 5 per cent following the acquisition of shares from the open market.

For the Nifty, support is at 18,325–18,245, while on the upside, 18,800-18,888-19,000 will be the next resistance levels

Global brokerage firm Morgan Stanley has maintained its overweight rating on HAL with a target price of Rs 3,216 on the stock as the management has manufacturing order visibility of Rs 1.2 lakh crore over next 3-5 years and valuations are compelling.

IRB Infrastructure Developers has broken out on the daily line chart with higher volumes to close at highest level since November 9. The stock price has been forming higher top higher bottom candle stick pattern on the daily chart.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on November 25, 2022.

IRB Infrastructure Developers is again gaining momentum after building a strong base at Rs 200 mark. On the weekly chart, we can observe a breakout of the Flag formation, while there is a breakout of the bullish Inverse Head and Shoulders formation on the daily chart.

HPL Electric and Power is in classical bullish momentum. The overall structure of the counter is lucrative, as it is trading above all of its moving averages

Motilal Oswal recommended Neutral rating on IRB Infrastructure with a target price of Rs 240 in its research report dated October 22, 2022.

It said that toll collections have witnessed pre-Covid-19 levels across almost all BOT (Build-Operate-Transfer) assets, with a meaningful pick-up in economic activity across the country.

The company had clocked a consolidated net profit of Rs 42.30 crore in the corresponding quarter of the previous fiscal, it said in a statement.

The stock has witnessed a sharp breakout from its 200-Day average with strong volumes after a double bottom formation near 195 levels. It should face some resistance at 270 and a crossover of the same would extend the up move to 310-320 levels over the next few months. RSI has pierced upwards on the weekly candle indicating the positive momentum to continue from current levels.

“IRB and Adani are best placed to gain from this new shift in format from HAM and EPC to asset ownership. We believe that IRB should do very well from this. Additionally, because of the private InvITs, they are able to leverage their balance sheet and within the InvITs also, there is a lot of repricing going on because the thoroughfare and the traffic numbers and the servicing of the debt is very strong.”

In the Nifty 50 index, 34 stocks ended in the green, while 16 stocks closed in the red in today's trade.

Ventura Securities is bullish on IRB Infrastructure Developers has recommended buy rating on the stock with a target price of Rs 729.2 in its research report dated October 14, 2022. We initiate coverage on IRB with a BUY for a PT of INR 729.2 (SOTP methodology) representing an upside of 239.2% over the next 30 months.

The company on Friday reported a multi-fold increase in consolidated net profit at Rs 363.19 crore for the quarter ended June 30. It had clocked a consolidated net profit of Rs 71.91 crore in the corresponding period of the previous fiscal, it said in a regulatory filing.

IRB Infrastructure Developers, in a statement, said its board has approved sale of Vadodara Kim hybrid annuity model(HAM) project in Gujarat for Rs 342 crore.

Nifty50 on Thursday settled almost flat, but snapped a six day winning run. The index ended up forming a small bearish candle on the daily chart, with a long lower wick. Analysts said the index turned sideways after the recent rally and expect it to find support around 17,200 level.

IRB Infrastructure Developers Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 14641.56 Crore) operating in Infrastructure sector.