57 minutes agoAuthor: Nikhil Bhatt
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U.S. At home, with the Federal Reserve keeping interest rates on hold, the third term of the NDA government under the leadership of Prime Minister Narendra Modi has begun at home, funds, maharathis, sportsmen continue to buy stocks in anticipation of the central budget stimulus to be presented in July for the overall development of the country. , the Nifty based hit a new record high. Sensex ended up 204.33 points to close at 76810.90 after hitting a fresh intra-day high of 77145.26 on fresh buying by funds. While the Nifty Future Spot Index surged 158.10 points intra-day to hit a new record of 23474.00, while the Bank Nifty Future Spot Index surged 107.00 points intra-day to hit a new record of 50289.95. Along with this, funds, players in small, mid cap stocks continued the broad rally.
31 lakh crores of investors’ capital was washed away in a single day with a big crash in the Indian stock market on June 04 during the Lok Sabha election results. It has taken five trading sessions to recover. Investors’ capital has increased by 32 lakh crores in five trading sessions. Smallcap and midcap indices hit new record highs again. Profit booking by investors increased on the last day of the week on Friday after registering 4 consecutive all-time highs. There was huge volatility in the stock market.
Future direction of the market….Friends, After the Modi government came back to power at the center, the focus on the central budget and the incentives, measures to speed up the economic development are expected, as the buying in funds stocks continued, the Nifty based market created a history of new highs. The election result and then the positive factor of monsoon, the market may recover from the shocks and ride on the bullish path again and in the scenario of formation of a stable government led by BJP as the largest party at the center with majority of NDA, the market may witness a historic boom after the turmoil. Accordingly, the market showed a flurry of movement last week and at the end of the weekend Prime Minister Narendra Modi and BJP claimed to form a hat-trick NDA government, the market has shown a historic rise for 3 days in a row.
One thing that is clear after the Fed policy announcement is that everyone from Delhi to Washington wants to continue the fight against inflation. The US Federal Reserve has once again left interest rates unchanged. Inflation has continued to fall in recent months, but has signaled that it expects to cut its benchmark interest rate only once this year.
In the coming days, the Indian stock market will be keeping an eye on the important 100-day performance of the NDA government as well as the allocation of the new government’s cabinet and upcoming plans. So in the absence of any unexpected factors, volatility may be seen in Sensex and Nifty futures in the coming week. So now in the coming days the market can be seen entering the consolidation phase. The stock market may experience high volatility. In the coming days, the market may see turmoil. But as per my personal advice, a wise investor should book profit in stages… why not?
Indian Oil Corporation Ltd.
( BSE CODE – 530965)
Indian Oil Corporation Limited was established in the year 1959 as Indian Oil Company Limited. In the year 1964, Indian Refineries Ltd. was merged with Indian Oil Corporation Limited. Indian Oil Corporation (IOC) is India’s premier Maharatna national oil company, a leader in the alternative energy sector spanning the entire hydrocarbon value chain from refining pipeline transportation and marketing of petroleum products to crude oil and gas marketing along with petrochemicals. The promoter of the company i.e. the President of India holds an estimated 52.18% equity share of the total equity share capital. Indian Oil Corporation Ltd. It was the most profitable PSU company in India with a record profit of Rs.21,346 crore in the year 2017-18. Delek, Qatar Energy, Saudi Aramco, Abu Dhabi National Oil Company and National Iranian Oil Company are its biggest business partners.
Indian Oil Corporation Ltd. A/T+1 Group is a leading company in the Refinery and Marketing sector. The face value of this company is Rs.10. At current prices, the market cap value of this company is approximately Rs.2,40,484.69 crore. The total turnover of this company is approximately Rs.44.04 crores. The share of this company rose to Rs.196.80 and fell to Rs.85.51 during the fifty-second week. Share Holding Pattern : Promoters holding 51.50% and Public holding 48.50% in the quarter ended March 31 – 2024.
Bonus shares : 1:2 share bonus given in year 2022.
Dividend: Dividend paid by the company is Rs.4.25 per share in the year 2020, Rs.17.00 per share in the year 2021, Rs.6.40 per share in the year 2022, Rs.8.00 per share in the year 2023 and Rs.7.00 per share in the year 2024.
Financial Result:
(1) Full financial year April 2022 to March 2023 : Net sales increased to Rs.9,34,952.66 crores from Rs.7,28,459.94 crores Net profit decreased to Rs.8,241.82 crores from Rs.24,184.10 crores at NPM 0.88% 5.98 crore in revenue.
(2) First quarter October 2023 to December 2023 : Net sales increased from Rs.2,02,312.04 crore to Rs.2,23,012.37 crore at NPM of 3.62% Net profit fell to Rs.12,967.32 crore from Rs.8063.39 crore earning profit per share of Rs. .5.86 registered.
(3) Second quarter January 2024 to March 2024 : Net sales fell from Rs.2,23,012.37 crore to Rs.2,19,875.55 crore at NPM of 2.20% Net profit fell from Rs.8063.39 crore to Rs.4837.69 crore earning profit per share of Rs. .3.51 filed.
The share price of this company, a leader in the refinery and marketing sector, is currently trading around Rs.170. Buyable with a stoploss of Rs.147, this stock is likely to register a price of Rs.184 to Rs.193 in a short period of time….!! Bullish focus above Rs.197.
IDFC First Bank
( BSE CODE – 539437 )
IDFC First Bank is a subsidiary of IDFC Limited. IDFC Ltd. was given in-principle approval by the Reserve Bank of India (RBI) on 9 April 2014 to set up a new bank in the private sector under Section 22 of the Banking Regulation Act 1949. Headquartered in Mumbai, IDFC First Bank is a universal bank offering financial solutions through internet and mobile through its nationwide branches. IDFC First Bank offers basic services like savings accounts, NRI accounts, fixed deposits, home loans and personal loans using technology and takes a service-oriented approach to make banking easy and accessible anytime and anywhere. The bank provides customized financial solutions to corporate individuals, small and micro enterprises (SMEs) entrepreneurs, financial institutions and the government.
IDFC First Bank is a leading company of the A/T+1 Group in the private banking sector. The face value of this company is Rs.10. At current prices, the market cap value of this company is estimated at Rs.55,209.84 crores. The total turnover of this company is approximately Rs.22.95 crores. The share of this company rose to Rs.100.74 and fell to Rs.70.55 during the fifty-second week.
Share Holding Pattern: In the March – 2024 quarter, promoters held 37.43% and public held 62.57%.
Financial Result:
(1) Full financial year April 2022 to March 2023 : Net sales increased to Rs.22,727.54 crores from Rs.17,172.68 crores and net profit increased from Rs.145.49 crores to Rs.2437.13 crores from NPM of 10.72% Earnings per share Rs.3.91 registered.
(2) First quarter October 2023 to December 2023 : Net sales increased from Rs.7356.17 crore to Rs.7879.40 crore at NPM of 9.08% while net profit fell to Rs.751.32 crore from Rs.715.68 crore and recorded earnings per share of Rs.1.02 .
(3) Second quarter January 2024 to March 2024 : Net sales increased from Rs.7879.40 crore to Rs.8219.21 crore at NPM of 8.81% Net profit rose to Rs.715.68 crore from Rs.724.35 crore and recorded earnings per share of Rs.1.02 .
The share price of this leading private bank sector company is currently trading around Rs.78. Buyable with a stoploss of Rs.68, this stock is likely to register a price of Rs.84 to Rs.90 in a short period of time…!! Bullish focus on Rs.93.
The author is a SEBI registered research analyst and proprietor of Investment Point.