Heard On The Street: Dealers Spot Action In Maruti Suzuki, JSPL, Axis Bank, SpiceJet And Colgate
Dealing rooms flagged major institutional activity in Maruti Suzuki, JSPL, Axis Bank, SpiceJet, and Colgate ahead of the companies’ Q4 results and earnings updates.
Markets have been trading in the green on Thursday post a marginally lower open, with the Sensex and Nifty rising over 1% intraday. NDTV Profit India has been tracking the action in the top dealing rooms of India’s financial capital, and this edition of ‘Heard On The Street’ provides you with buzzing action on stocks like Maruti Suzuki, JSPL, Axis Bank, SpiceJet, and Colgate.
Heard On The Street provides readers with what well-informed investors, especially HNIs, FIIs, DIIs, and mutual funds, are buying and selling in the stock market. It also tracks the latest unconfirmed/unverified chatter around stocks and sectors.
NDTV Profit picked up the following cues from the dealing room chatter during trade:
Maruti Suzuki
Domestic institutional investors have been seen selling shares of one of India’s largest auto-makers ahead of the fourth quarter earnings. Maruti will be reporting its numbers on April 25.
Jindal Steel and Power
Foreign broker Morgan Stanley downgraded its rating on JSPL to Equal-weight from Overweight, while the target was cut to Rs 900 from Rs 1,200. Despite this downgrade, the share prices jumped over 4% in trade on the back of buying seen by large high-net-worth individuals.
Axis Bank
The Nifty Bank index has been gaining for the last four trading sessions. Among the banking names, Axis Bank stands out as dealers indicate strong buy flows on an institutional desk. In the last six months, Axis Bank's share prices have underperformed its larger peers, and this could change according to dealers.
SpiceJet and Colgate India
Multiple dealing rooms across various broking firms have been giving positional buy calls for SpiceJet and Colgate India. For SpiceJet, Q4 is expected to be very strong on the back of higher fares and air traffic, while for Colgate, Q4 is not expected to be as bad as feared earlier, post the quarter-end updates.
Disclaimer:- The mentioned stocks capture NDTV Profit's dealing room channel checks during trading hours. The information provided is for informational purposes. However, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information. This content does not constitute financial, investment, or trading advice and should not be construed as a recommendation to buy, sell, or hold any securities.
