Shares of commercial vehicles manufacturer Ashok Leyland will remain in focus, as analysts expect the company to report a loss of about ₹100 crore for January-March as against a net profit of ₹150 crore in the corresponding period a year ago. The company is expected to announce results on Thursday. Analysts expect net sales to fall by about 20 per cent at ₹2,927 crore. ALL’s earnings are seen weighed down by poor operating leverage and higher discounting.
MS downgrade may slow down Tata Motors
Shares of Tata Motors may attract trader attention on Thursday, as Morgan Stanley has downgraded it to “equal weight” from “overweight” Morgan Stanley’s projection is based on expectation that UK-based Jaguar Land Rover Automotive Plc’s growth will be driven by Jaguar, which is battling weaker profitability and intense competition. It believes JLR’s margins will start tending down in April-June. It set the near-term price target at ₹480 for the stock.
PC Jeweller poised at resistance
After a short-term downtrend from the early March peak of ₹113, PC Jeweller found support at ₹91 early this month. The stock’s bullish momentum is back in anticipation of financial results for the period ended March 31, which is due on Thursday. The stock advanced 11 per cent over the past three sessions. An upbeat result can break PC Jeweller’s current resistance at ₹104 and take it to ₹115 or even to ₹120. Any disappointment can pull the stock to ₹97 and to ₹91.