Auto and FMCG were among the top sectoral gainers. The FMCG index gained for the fourth straight day and is within touching distance of a 52-week high. The index has also gained on an annual basis in 10 out of the last 11 years.
Sources within the dealing rooms tell CNBC TV-18 that IT stocks continue to receive nibbling from institutional investors. It remains to be seen how they react on Friday morning to Accenture's earnings after the company forecast revenue below estimates on lower spending and a stronger Dollar. Accenture assumes a negative 8.5 percent forex impact.
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Besides Consumption names, here are some other stocks that have been part of the dealing room chatter today:
Tata Chemicals: The stock had its best day in over a month after ending with gains of over 5.3 percent. Dealers indicate strong buy flows for the counter. Shares are just 3.3 percent away from their 52-week high. The management expressed confidence at an investor conference that their margins are set to improve going forward. For the April-June period, Tata Chemicals reported EBITDA Margins of 25 percent.
Tilaknagar Industries: The alcoholic beverage company also ended Thursday's session on a high, with gains of over 4.5 percent. The stock is also nearing its 52-week high of Rs 102.90. Dealers are anticipating strong delivery volumes in today's session on the back of strong flows from FIIs.
Piramal Enterprises: The stock has been under pressure since the
demerger of the pharma business, oscillating in a range of Rs 950 on the lower end and Rs 1,100 on the upper end over the last month. Shares have also corrected 10 percent since the demerger took effect. Dealing rooms suggest that selling pressure may abate as some long-only funds have turned active buyers in the stock. Shares ended 2.2 percent higher on Thursday.
First Published: Sept 22, 2022 5:36 PM IST