The company had logged a net profit of Rs 151.05 crore in the October-December period a year ago, JK Paper said in a regulatory filing.

The consensus estimate for the stock is "hold". JK Tyre has an average target price of Rs 177.67, which represents a downside of -2.06% from the current levels. On Thursday, the scrip was down about 0.38% to last trade at Rs 181.40 on the NSE.

Broadly at a portfolio level, calendar year 2022 was more or less flat, however, at the company level, a couple of our top holdings like JK Paper and LT Foods have almost doubled from the last years valuation.

Currently, it is in a short-term correction. The stock can find support near the 31 level. Long-term investors should keep holding their positions as long as it sustains above the major support level placed around Rs 22. On the higher side, 36 and then 44 levels can be seen.

Sectorally, buying was seen in energy, IT, and oil and gas stocks while some selling was visible in telecom, realty, auto, and FMCG stocks.

JK Paper shares rallied 3.5 percent to Rs 440, the highest closing level since August 16 this year and formed another long bullish candle with robust volumes on the daily charts. The stock has given a strong breakout of horizontal resistance trend line adjoining several points - August 12, September 1, September 8 and December 19 this year.

“Domestic sentiments were dented in line with global peers after the Bank of Japan (BoJ), in a surprise move, raised interest rate by 25 bps to 0.5%. Further, rising death cases in China after easing Covid-19 restrictions instilled more fear. Nifty opened the gap down and witnessed selling pressure for the most of the session," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

“Hopefully India will be able to deal with inflation without having to resort to as sharp an increase in rates as is happening in certain western countries. The scale of the Indian market is huge. The domestic market holds us in better shape than many others and Europe is very badly affected in many ways. The US also has its own issues although they are relatively better off.”

CLSA has upgraded its rating on Paytm to ‘buy from ‘sell. “While our interactions with several investors over the past four months suggest some discomfort or uncertainty on scaling up the lending business, we think that the stock warrants a look now,” the brokerage said.

“Textile companies do not form a part of the top 50 or top 100 segment but they are very promising. These companies have borne the brunt of higher cotton prices in the last one quarter and probably some bit of slowdown in their customers in the US and UK and Europe. This sector looks very promising because there is a lot of government push here in this sector.”

Kaynes Technologies India is set to make its debut at the bourses on Tuesday after the company raised Rs 858 crore via its initial public offering between November 10-14 by selling the shares in the range of Rs 559-587 apeice.

The S&P BSE Sensex rose more than 200 points while the Nifty50 closed above 18400 levels on Tuesday.

JK Paper Ltd., incorporated in the year 1960, is a Small Cap company (having a market cap of Rs 7212.30 Crore) operating in Paper sector.

Paper stocks have been outperforming for last couple of months and sector has been holding strength on medium to long term charts.

The Nifty IT index closed 0.67 per cent down at 29024.65.

The Nifty Realty index closed 1.69 per cent down at 445.0.

“JLR is not the issue with Tata Motors. The domestic business is doing well for them. They have taken a very clear lead as far as EVS are concerned. Mahindra & Mahindra surprisingly has done extremely well on the SUV front and have changed the outlook on the company and now is more of a four-wheeler than a tractor company.”

Paper stocks are in action since the ban of single-use plastics from July 1, said Prashanth Tapse, Senior VP- Research, Mehta Equities. With this alternative paper sector gets an undue advantage, leading to high demand, he said.

MFs held 1 lakh Maharashtra Scooters shares worth Rs 48 crore at the end of April. They held Rs 62 crore worth 2 lakh shares in the company at the end of May.In PCBL, MF increased holding to 1.03 crore shares from 81 lakh shares. They owned PCBL shares worth Rs 109 crore at May-end against Rs 90 crore a month ago.

“In the next three to six months, a great portfolio vintage can be built because long-term fundamental stories do not change. Short-term demand disruption, growth slowdown can happen for a couple of quarters. But when one is looking to value equities from a terminal value and long-term growth perspective, a few quarters of slowdown can be adjusted and that has been partly factored in the pricing as well.”

Rising inflation, interest rate hikes, and geopolitical uncertainties have resulted in FY23 earnings prospects turning uncertain

"Death Cross signals a bearish trend ahead. But the Nifty50 also made an indecisive Doji as there was no follow up selling after the opening gap down. While the trend stays negative, a bounce cannot be ruled out."

The biggest gainer of the year was Growth Plus Value Strategy of Care Portfolio Managers that delivered 13.5 per cent. Launched over a decade ago, it gives higher weightage to lower valuation multiple, especially from smallcap companies.

Tata Communications has consolidated and maintained a base near Rs 1,130 levels and has picked up momentum with a bullish candle pattern to imply strength. It has potential to carry on with positive bias in the coming days.