The brokerage retains BUY rating on the stock amid Royal Enfield (RE) driving premiumisation play in 2-W space with healthy double digit volume growth on anvil driven by new launches including affordable Hunter 350 & ongoing CV cyclical upswing.

Falling channel breakout and price rebounding after taking support at previous low signalling resumption of up move.

Consolidating after a sharp run up. The brokerage expects this consolidation to break on the upside.

Support 61.82% fibonacci retracement level andformed a Bullish outside bar suggesting upside.

Axis Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2022.

Lower offtake of expensive spot LNG gas by industrial/commercial customers supported margins.

The brokerage has slashed its FY24/25 EBITDA estimates by 8% each to account for higher gestation in fashion/B2B biz.

Hence the brokerage expects modest growth of 8% in the direct channel in FY24E and then pick-up to 14%/13% in FY25E/FY26E.

HCL Technologies, incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 308910.07 Crore) operating in IT Software sector.

Wipro’s EBIT margins may improve modestly from 15.1% in FY23E to 16.4% by FY26E on the back of levers like: 1) pricing, 2) lower attrition leading to lower employee cost as a percentage of sales, 3) pyramid optimisation, and 4) shift to fixed price projects where the company can retain certain savings through automation.

Need to invest in building digital capabilities will offset some of the margin levers such as subcontracting cost, offshoring, synergy with portfolio companies and increased automation in fixed-price projects.

With Mindtree stronger in front-end digital solutions and LTI strong in backend ERP-related core transformation solutions, merger of two would help them to cross-sell / upsell their solutions to various clients.

The brokerage expects Infosys EBIT margins to expand gradually from 21.2% in FY23E to 22% by FY26E on the back of various levers like pricing, utilisation, further optimization of employee pyramid, lower sub-contracting cost, automation and lower attrition.

​ Tata Consultancy Services, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 1287766.54 Crore) operating in IT Software sector.

Fusion Micro Finance, incorporated in the year 1994, is a Small Cap company (having a market cap of Rs 4055.42 Crore) operating in General sector.

Gujarat Gas, incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 32901.61 Crore) operating in Gas & Petroleum sector.

Galaxy Surfactants, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 8509.32 Crore) operating in Chemicals sector.

Chemplast Sanmar, incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 6593.17 Crore) operating in General sector.

Price resuming uptrend after consolidating above 50 day EMA and cusp of breaking above last one week range signaling further upsides in coming sessions.

NTPC, incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 162758.54 Crore) operating in Power sector.