Top Nifty50 companies including Wipro Limited, Maruti Suzuki India Limited and Ultratech Cement Limited announced their March quarter results this week. Analyst Sanddep Jain while speaking to Zee Business' Swati Raina explains what lies ahead for the stocks of these companies and if investors should make a move in them. The views were made in the popular TV show 'Bazaar Agle Hafte' (#BazaarAgleHafte).   

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Wipro Q4 Results 2022: Information Technology major Wipro has reported a sequential revenue growth for the quarter ended 31 March 2022 at 3.1 per cent in Constant Currency, the company said in its filing to the exchanges.

The revenue growth for the year stood at 27.3 per cent Year-on-Year (YoY) while the Earnings Per Share (EPS) growth rate for the year was at 17 per cent, the filing said further.

Also Read: Wipro Q4 Results 2022: revenue growth for year up 27% YoY; net income for year up nearly 13%

IT stocks Including Tata Consultancy Services (TCS), Infosys and Wipro have already witnessed significant corrections since the results of TCS and Infosys were announced, Jain said. Talking about Wipro, the Tradeswift Director said that he did not see any further correction in Wipro stocks as it has already corrected much.

He sees a stong support between Rs 480 and Rs 501. He said that the Q4 results were also okay. It is unlikely that there will be a big positive or negative from current levels. It is a good ‘Hold’ with a long term perspective, Jain further said.

Stock to Buy: Wipro

Investors must look for buying opportunities on declines, said Jain.

Wipro shares ended in the red on Friday at Rs 508, declining by nearly 3 per cent on the NSE.

Maruti Suzuki also announced its results and posted robust January-March quarter numbers. The standalone net profit stood at Rs 1840 cr beating industry estimates of Rs 1420 cr. The profits were up 51 per cent Year-on-Year (YoY) as against Rs 1166 cr reported during the same quarter in the last fiscal year. Standalone sales were up YoY from Rs 24024 cr to Rs 26740 cr.

Also Read: Maruti Suzuki Q4 Results 2022: PAT jumps nearly 58% to Rs 1838.9 cr, sales volume decline 0.7%; declares Rs 60 dividend

Jain said that he is very bullish on the Maruti Suzuki shares and has spoken about this stock whenever auto stocks have been mentioned. He said that the auto sector could be an outperformer, going forward despite putting a no-show till now. He said that it is a strong bet in this sector and has corrected from top levels. The consolidation has been strong and looks good on charts as well.

Stock to Buy: Maruti Suzuki share - He recommends a buy in Maruti stock at current levels. He said that the downside is limited from here. It must be bought with a view of 6-9 months, he added.

Maruti Suzuki India shares ended at Rs 7681 on the NSE on Friday. They were down over Rs 200 or 1.6 per cent from the Thursday closing price.

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Also Read: UltraTech Q4 2022 results: net profit up 47% at Rs 2613.75 cr; net sales up 9.45% to Rs 15,767 cr

Stock to Buy: Ultratech  Cement - Jain said that cement sector has been a market underperformer. But prices are strengthening and demand usually comes back around this time. He said that as a stock he like Ultratech Cement. He said that investors must hold this stock and look to buy it on declines. He said that he was bullish on the sector with a 1-2 year perspective.