As the market sentiment remains weak, market experts advise traders to consider investing in select stocks for intraday trading. Today, the first-quarter results of 45 companies, including Maruti Suzuki, Adani Green, and GAIL, are set to be declared, which could influence traders’ buying and selling decisions.
Market Experts Advise Traders Amid Weak Sentiment
Maruti Suzuki, the leading auto giant, is expected to show double-digit growth in both Profit After Tax (PAT) and net sales during the first quarter of FY2023. Strong volume growth and higher prices are likely to reflect positively on earnings. However, a slight margin decline of 0.20% is possible on a quarterly basis.
Invest in Select Stocks for Intraday Trading
In contrast, GAIL (India) Ltd, the country’s largest gas distributor, may report a significant 77.5% drop in first-quarter profit due to weakness in its petrochemical segment. The company’s profit for Q1 could be around Rs 603.52 crore, compared to Rs 2,683.11 crore in the same quarter of the previous financial year. The income of the company may also decrease on an annual basis.
On the positive side, another company expected to post impressive results is Navin Fluorine, with its consolidated profit likely to increase by 319% on an annual basis. Oberoi Realty and Petrnonet are also among the companies declaring their Q1 results today.
