Escorts OCTOBER AUTO SALES (YoY). On a year-on-year basis, overall sales in October declined by 1.1% to 13,514 units while total sales declined to 13,514 units from 13,664. Exports grew by 58.1% to 765 units. In October, overall sales declined by 14% year-on-year. Total sales stood at 4.39 lakh units as against 4.37 lakh units.
The market opened on a strong note amid mixed global cues. Sensex is seen at the level of 59,728.12 with a gain of 421.19 points or 0.71 percent. On the other hand, Nifty is seen at the level of 17,812.55 with a strength of 140.90 points or 0.80 percent. IOC, Bharti Airtel, Axis Bank, BPCL and Titan are among the gainers of Nifty.
The market has got off to a strong start in the pre-opening. Sensex is seen at the level of 59,506.19 with a gain of 217.56 points or 0.34 percent. On the other hand, Nifty is seen at the level of 17781.40 with a strength of 87.15 points or 0.49 percent.
SJS Enterprises IPO, issue will open from today
Bids for the initial public offering (IPO) of decorative aesthetics supplier SJS Enterprises will open in the coming week. Along with this, two more IPOs- Policybazaar and Sigachi Industries will also open for subscription.
The offer will open on November 1 and close on November 3. The price band for the offer has been fixed at Rs 531 to Rs 542 per equity share.
It is purely an issue of Offer for Sales (OFS) by the promoters. Evergraph Holdings PTI Limited will sell shares worth Rs 710 crore and KA Joseph will sell shares worth Rs 90 crore through OFS. Out of the total issue size of Rs 800 crore, the company has already raised Rs 240 crore from anchor investors as on October 29.
This is purely an offer for sale, so the company will not get any money from the IPO. All the money will go to the promoters. Through the offer, the company will take the benefits of listing the equity shares on the stock exchanges.
Take a look at these figures before the market opens
Today the Indian markets are also expected to open in the green. Today’s rally of SGX Nifty along with other Asian markets is pointing towards the same thing. On October 29, the BSE Sensex fell 677.77 points to close at 59,306.93. At the same time, Nifty fell 185.60 points to close at 17,671.70 level. Nifty had formed a bearish candle on the daily chart on the previous trading day. It also showed a decline on the weekly scale. The Nifty had closed down 2.5 per cent last week.
Talking about today, the first support for Nifty is at 17,551.27. After that there is big support at 17,430.83. If Nifty moves upwards, then it will have to face its resistance at 17,853.97 and then at 18,036.23.
Petrol Diesel Price Today: Petrol and diesel prices were hiked on Monday, the first day of the week today. Diesel has crossed Rs 110 in many cities and petrol has crossed 121. Today the price of petrol and diesel has increased by 35 paise. Petrol in Delhi has crossed Rs 109 per liter today. At the same time, diesel is being sold at Rs 98.42 per liter. The last time the prices were reduced on September 5, then petrol and diesel became cheaper by 15 paise in many cities of the country.
The issue of PolicyBazaar will open today, what should be invested?
PolicyBazaar IPO: The issue of PB Fintech, which owns Policybazaar and Paisabazaar.com, is open today i.e. on November 1. The issue of the company is scheduled to close on November 3. The price band of PolicyBazaar’s IPO has been fixed at Rs 940-980. The allotment of the company will take place on November 10 and its listing can be done on November 15. One lot of issue is of 15 shares.
What should investors do?
According to KR Choksi, the best thing about the company is that it is working in a large market which has a lot of opportunities right now. The policy market is growing rapidly. The company is in a leadership position in the digital market place. The company has been successful in wooing new customers, which is benefiting it. In the fiscal year 2021, users visited the website more than 12.65 million times. The company has the ability to retain the customers. Along with this, the company is also benefiting from better relationship with insurance companies and lending partners.
Along with this, KR Choksi has also told about some of the concerns of the company. He said that people have lost their jobs due to coronavirus infection, due to which their ability to buy policies has reduced. The company has already incurred losses. Along with this, non-compliance of regulations is the biggest problem of its business. KR Choksi advises to buy Policy Bazaar IPO for long term.
What’s the strategy on NIFTY
Talking on the strategy of Nifty, Virendra Kumar of CNBC-Awaaz said that its resistance zone is 17816-17894. At the same time, the big resistance zone is 17972-18080. Its base zone is 17614-17552. Whereas the larger base zone is 17500-17455. Heavy selling of FIIs, buying of DIIs was witnessed. Even today sharp fluctuations are possible in INDEX. Sell on a bounce till below 18000 (20 DMA). There has been heavy institutional call writing between 17800-18000. Below 17614-17552-17500 is the key base of the 100 DEMA. There are 19 lakh puts in the monthly contract. Some pull backs are possible in intraday from 100 DEMA. Try the trade after the market opens. Keep track of key levels.
What is the strategy on NIFTY Bank
Strategy on Bank Nifty, Virendra Kumar of CNBC-Awaaz said that there has been a sharp recovery in Bank Nifty on Friday. Weakness was seen in Bank Nifty below 40000-39700. Below is the 38300-38000 key option base and the 100 DEMA zone. Try the trade after the market opens. In the same Bank Nifty, the first resistance is at 39542-39693 and the second resistance is at 39960-40080. At the same time, the first base is at 38787-38480 and the second base is at 38297-38150.
Weak Result of Bandhan Bank
Bandhan Bank’s results were weak in the second quarter. There is a loss of 3008 crores as against the profit of 101 crores. Asset quality is very poor. The new NPAs have increased by 75%. At the same time, the profit of IDFC FIRST BANK has increased by about 50%, as well as an increase in earning from interest has also been seen.
Excellent results for SAIL in Q2
STEEL AUTHORITY OF INDIA has had excellent results in the second quarter. Profit has increased by 8 times to cross 4300 crores. There has also been an improvement in MARGIN. At the same time, BPCL has also had good results. REVENUE has increased by 15% then PROFIT has increased by 20% and MARGIN has increased.
October auto sales figures to come today
The market will keep an eye on the auto sales figures for October coming today. The impact of the CHIP shortage may be visible. Selling pressure is possible for MARUTI, M&M and ASHOK LEYLAND but TATA MOTORS sales may increase by more than 20%.
Results of TATA Motors, HDFC will come today
Today the results of two Nifty companies TATA MOTORS and HDFC will come. Revenue of TATA MOTORS may increase by 14% but losses may also increase. On the other hand, HDFC’s PROFIT may increase by 19% in Q2 while a 38% jump in EBITDA is possible.
3 new IPOs open from today
The IPO market has come out. 3 new ISSUEs are opening from today. PB FINTECH, the company that runs POLICY BAZAR, plans to raise Rs 5700 crore. Its price band is 940-980 rupees. SJS ENTERPIRSES and SIGACHI INDUSTIRS will also be able to invest money in IPO from today.
NYKAA’s IPO doubled
Today is the last day to invest in NYKAA’s IPO. So far the issue has been filled almost 5 times. The price band is Rs 1085 to 1125. At the same time, the issue of FINO payment bank is 50% filled on the first day.
Good signal from Asia, US and SGX NIFTY
The signals from overseas markets are looking good. Asia has got off to a strong start. SGX NIFTY is seeing a rise of quarter percent. There has been a jump of 100 points in DOW FUTURES. The US markets were closed on Friday.
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