Asian Paints and Polycab Wires Q4 Results overview along with technical view
ASIAN PAINTS Q4 EARNINGS
Net Profit 8.5B Vs 8.52B (YOY); EST:9.13B
Revenue 79B VS 66.51B (YOY); 85.3B (QOQ)
EBITDA 14.4B Vs 13.18B (YOY)
Impact – Neutral ( Revenue growth is seen in the company but net profit growth isn’t there because of rising input cost i.e, Crude Oil)
Technical View – Near-term Support is around 3000 and upside resistance around 3200. Break below 3000 will see more downsides move till 2870 levels. The fresh positive move will be expected on a break above 3200 levels till 3300 and then 3400 in coming days.
POLYCAB Q4 EARNINGS
Net Profit 3.25B Vs 2.8B (YOY); EST:2.7B
Revenue 39.6B VS 29.4B (YOY); 33.72B (QOQ)
EBITDA 4.76B Vs 4.21B (YOY)
Impact – Positive (Company declared dividend of ₹14/share)
Technical View – Near-term Support is around 2335 and upside resistance around 2540. Break below 2335 will see more downsides move till 2335 levels. The fresh positive move will be expected on a break above 2540 levels till 2700 and then 2900 in coming days.
Trade safely with levels. More will update on all the above-mentioned stocks from time to time.