Range breakout on weekly frame and holding wellafter surpassing hurdle of 600 zones.

Sensex ends 452 points lower at 59,900, and Nifty slides 133 points to settle at 17,859

Sensex ends 452 points lower at 59,900, and Nifty slides 133 points to settle at 17,859

Sensex ends 452 points lower at 59,900, and Nifty slides 133 points to settle at 17,859

The brokerage sees LTIM benefiting from revenue and cost synergies.

Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 613417.10 Crore) operating in IT Software sector.

The brokerage reiterate its BUY rating with a TP of INR675 and rate it as its top pick in real estate sector for CY23.

Promoters held 60.89 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.18 per cent, DIIs 10.01 per cent.

Promoters held 32.5 per cent stake in the company as of 30-Jun-2022, while FIIs owned 25.81 per cent, DIIs 16.05 per cent.

Gujarat State Petronet, incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 15563.77 Crore) operating in Gas & Petroleum sector.

The combination of weak gas demand, supply shortages caused by geopolitical issues (Gazprom force majeure) and pricing (high spot LNG prices constraining Dahej third party regas offtake) is likely to lead to another weak quarter for GAIL, PLNG and GSPL.

For upstream, net realisations (net of windfall tax) are expected to remain steady at US$73.5-74.1/bbl while gas utilities’ earnings will likely continue to be impacted by weak demand and lower trading margins (for GAIL).

Promoters held 54.9 per cent stake in the company as of 30-Sep-2022, while FIIs owned 18.21 per cent, DIIs 17.98 per cent.

Promoters held 56.66 per cent stake in the company as of 30-Sep-2022, while FIIs owned 12.42 per cent, DIIs 15.37 per cent.

Reliance Industries, incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1718122.69 Crore) operating in Diversified sector.

Coupled with GRMs of US$10.5-12.4/bbl (net of windfall tax and estimated inventory loss), the brokerage believes operating earnings for the 3 companies will likely swing back to the black post the record loss seen in Q2.

Promoters held 52.98 per cent stake in the company as of 30-Sep-2022, while FIIs owned 13.17 per cent, DIIs 20.89 per cent.

Attractive valuation (1.2xFY24E Adj. BVPS) makes the stock rewarding factoring FY23E/FY24E ROA of 2.1%.

Presence of green tall bar post a pullback off supportzone implies a reversal in trend in place since April.

Pattern of three crows and a bearish turtle breaksuggests continuation of downtrend since October.