According to the technical analyst, MCX India has a classic setup, precise Bullish BAT pattern on the daily chart with N-wave completed near the potential reversal zone.
The EBITDA margin declined by 268 bps YoY to 9.8 per cent on account of higher raw material cost and delay in price hikes.
Blue Star is in a long term bull trend and may continue to remain a favorite for market participants.
After a sluggish demand due to Covid-19 induced lockdown, commodity inflation stares before consumer durables sector. However, analysts see a new ray of hope with expectation of a blockbuster summer.
Highly International and Voltas will hold 60% and 40% stake in the joint venture company, respectively, and the JVC would have equity capital of Rs 250 crore to be contributed in tranches.
After two dismal seasons, the sector is hoping for a recovery this year
when the overall market translates form a negative sentiment to a positive outlook, the consolidating stocks are expected to robustly breakout on the upside