News for SKF India Limited (SKFINDIA.NS)

Stocks including DAM Capital, Mamata Machinery, Mazagon Dock, Jubilant Foodworks, IndusInd Bank, Power Mech, SKF India and more will be in the spotlight on Friday, December 27.

SKF India's share price jumped more than 6% after the company approved the demerger of its industrial business. The name of the new company will be “SKF India (Industrial) Ltd” or “SKF (Industrial) India Ltd” or such other as may be approved by the concerned central registration centre.

Aug 14, 2024 / 06:00AM GMTOperator Ladies and gentlemen, good morning, and welcome to the SKF India Limited Q1 FY 2024, '25 earnings conference call. (Operator

Several major companies, such as Vodafone Idea, Hindustan Aeronautics (HAL), Mazagon Dock, Hero MotoCorp, IRFC, IRCTC, HUDCO, Apollo Hospitals, Samvardhana Motherson, GMR Airports Infrastructure, Nykaa, and Ola Electric, are set to release their June quarter earnings reports this week.

Indian benchmark equity indices, Sensex and Nifty50, logged record closing highs for a second straight session on Friday, driven by state-run companies and energy stocks on hopes of continued capital expenditure spending by the new government.

Stock market holiday: On Friday, The 30-share BSE pack settled 182 points or 0.24 per cent higher at 76,992. The broader NSE Nifty index touched an all-time high of 23,490 before closing 67 points or 0.29 per cent up at 23,466.

Nifty ended Thursday expiry weaker by 345 points as the index broke below both the lower boundary of its upward channel and the support of the 50-day exponential moving average (DEMA) around the 22,150 level.

Shares of SKF India Ltd. jumped to six months high, snapping a two-day fall on Thursday after its profit surged beating analysts' estimates. The company's net profit rose 42.54% year-on-year to Rs 175.23 crore in the quarter ended March, according to an exchange filing. Analysts polled by Bloomberg estimated a net profit of Rs 137 crore.

Smallcap shares such as BSE, MRPL, HUDCO, IRB Infra, Global Health, NLC India, Bharat Dynamics, Tata Investment, Nalco, Hitachi Energy and Hindustan Copper can join midcap list.

Ahead of the February series expiry, Nifty on Wednesday ended 247 points lower below the 22,000 level and around its 20-DEMA. Observing the daily chart, the index has been navigating within a rising channel.

Nifty futures on the NSE International Exchange traded 4 points, or 0.02 per cent, lower at 22,051, hinting at a flattish start for the domestic market on Thursday.

Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 26 points or 0.10 percent.

The NSE Nifty 50 index fell 0.38% to 21,771, while the S&P BSE Sensex settled 0.49% lower at 71,731. Both indices rose about 0.5% each during the session, before reversing gains in the final hour of the trading session.

India's benchmark Nifty 50 index hit an all-time high for the fifth time this year on Friday, led by gains in Reliance Industries and IT stocks, and as the government's fiscal prudence in its budget also boosted sentiment.

On September 15, Friday, the stock market witnessed intriguing trends in the Relative Strength Index (RSI) of various stocks. ETMarkets has handpicked 10 stocks from a list of 30 that were trading with a declining RSI, providing valuable insights for investors.

Stocks to Watch today, Wednesday, May 17, 2023: The Supreme Court will, on Wednesday, hear a batch of Public Interest Litigations (PILs) seeking an investigation into the Adani Group-Hindenburg report

Based on the OI percentage, 71 stocks were on the short-covering list. These included Nestle India, Hindalco Industries, JK Cement, Intellect Design Arena, and Gujarat Gas

Stocks In the News: Check out the companies making the biggest headlines before the opening bell

Shrikant Chouhan of Kotak Securities says if the Nifty50 trades above 17,700, the uptrend texture will continue up to 17,800-17,950 levels. Contra traders can take a long bet near 17,350 with a strict 17,300 support stop-loss.