EXCLUSIVE: Indian equity markets traded firmly in the green during the session, supported by gains in banking, auto, realty and railway-related stocks. The benchmark Nifty index is holding above the crucial 23,980 mark, while Bank Nifty has surged close to 1.7 per cent, crossing the 55,000 level amid strong buying interest.
In an exclusive interview with ET Now, Rupak De, Senior Technical Analyst at LKP Securities, said, “There has been no sell-on-rise visible in the market today, and Nifty is maintaining its upward momentum despite facing some resistance near the 24,000 mark.”
Shares of Eicher Motors climbed more than 5.5 per cent after the company reported quarterly numbers that largely met expectations but impressed investors with optimistic management commentary on demand and expansion.
“We continue to remain bullish on premium motorcycle demand, while urban and rural demand trends remain healthy,” the management said.
The company also indicated that commodity cost pressures in the fourth quarter had been largely mitigated, limiting any major impact on margins.
In the commercial vehicle segment, Eicher said it implemented a nearly 2 per cent price increase during the quarter. Despite raw material inflation of 300–350 basis points, diesel price hikes have largely been passed on to operators without affecting demand.
“The fourth-quarter commodity impact has largely been mitigated and diesel hikes have been passed through, with no significant negative impact,” the company added.
Jupiter Wagons gained attention after one of its subsidiaries signed formal agreements with renewable energy players for battery energy storage system (BESS) projects totaling 110 megawatts.
“Possible order wins and strong business visibility are driving momentum across railway counters,” market watchers noted.
Torrent Pharmaceuticals also traded with gains after reporting strong fourth-quarter earnings that beat expectations across parameters.
The company posted revenues of around Rs 4,200 crore, marking a 42 per cent YoY increase, while EBITDA surged 40 per cent. Margins remained steady at nearly 32 per cent.
One of the major highlights for the quarter was the strategic launch of generic semaglutide.
India business growth remained robust, with domestic revenues rising 43 per cent. Excluding the JB acquisition, the core Torrent business expanded by around 15 per cent, significantly ahead of industry growth.
“India growth has been particularly strong and the company has delivered a broad-based beat across parameters,” analysts tracking the company said.
Dixon Technologies seen extending rally
Technical analysts remained positive on Dixon Technologies, which has rallied sharply in recent sessions.
According to Rupak De, the stock has broken above a key swing high and is trading above important moving averages, indicating strong momentum.
“The momentum around the stock looks very good, supported by a rising RSI and bullish crossover. Dixon could move towards Rs 13,000–14,000 in the short term, while Rs 11,000 remains a key stop-loss level,” De said.
Shares of Sterlite Technologies jumped 5 per cent and hit the upper circuit after its subsidiary secured a multi-year contract worth USD 1.1 billion from an international hyperscale partner.
The deal involves supplying optical connectivity products for AI-ready data centres through March 2029, boosting investor confidence in the company’s long-term growth prospects.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
