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73% down and still no bottom! Will Ola Electric break Rs 38 and slide to Rs 31?
73% down and still no bottom! Will Ola Electric break Rs 38 and slide to Rs 31?

Time of India

time6 days ago

  • Business
  • Time of India

73% down and still no bottom! Will Ola Electric break Rs 38 and slide to Rs 31?

Ola Electric shares have plunged over 73% from their all-time high of Rs 157.5 in August 2024. On June 26, the stock hit a fresh low of Rs 43.02, with technical indicators suggesting further downside unless key support levels hold. According to Amit Trivedi, Vice President and Technical Analyst at YES SECURITIES, the stock continues to trend lower without any meaningful recovery. 'It is down nearly 50% so far in 2025 and still lacks stability. Due to oversold conditions on short-term charts, a minor recovery is possible; however, a major upside is unlikely. Eventually, a further decline towards Rs 39 is expected,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 30초 비교 견적, 4번의 클릭으로 최저가 견적 상담 받으세요 8zero렌트 더 읽기 Undo The selling pressure has been persistent, with Ola Electric currently trading below key moving averages. Mandar Bhojane, Equity Research Analyst at Choice Equity Broking, noted, 'The stock faced strong resistance near Rs 55 and has slipped below the crucial Rs 45 support level, indicating growing weakness. It's trading below its 20-day, 50-day, and 200-day EMAs, and the RSI has dropped to 28.87 — firmly in the oversold zone.' Bhojane sees the Rs 40–38 range as a crucial support band aligned with key Fibonacci levels. A breakdown below this could open the gates for a slide to Rs 35–31. On the upside, the stock would need to decisively break above Rs 45.30–47.87 for any sustained recovery. Adding to the negative sentiment, Kunal Kamble, Senior Technical Research Analyst at Bonanza, pointed out that Ola Electric recently broke down from a descending triangle pattern—a bearish formation. 'The stock saw two sessions of sharp selling, but the aggression has eased in the last few sessions, with muted volumes. This indicates a temporary pause or consolidation. The RSI is flattening in the oversold zone, suggesting a loss of momentum,' he explained. Live Events However, Kamble cautioned against initiating fresh short positions for now, suggesting that any bounce could be a selling opportunity given the broader bearish structure. He pegs immediate support between Rs 42.40 and Rs 38.90, with resistance near Rs 45.27–46.22. Block Deals, Earnings, and Sentiment Pressure While technicals remain the focus, recent corporate and social developments have also weighed on investor sentiment. On June 25, 0.8% of the company's equity changed hands via block deals. Just weeks earlier, Hyundai Motor Company reportedly sold shares worth Rs 731 crore in a bulk deal, offloading 3.23% of the company's equity at Rs 51.40 per share—a move interpreted by some as a sign of waning confidence from a strategic investor. The stock's fall also follows weak Q4 FY25 results. Ola Electric reported a net loss of Rs 870 crore, more than double the Rs 416 crore loss a year ago. Revenue fell 62% year-on-year to Rs 611 crore as deliveries slumped to 51,375 units. Consolidated EBITDA margin dropped to -101.4%, though gross margins improved slightly due to higher sales of Gen-3 vehicles. Sentiment further worsened after a public spat on social media between CEO Bhavish Aggarwal and comedian Kunal Kamra, with the latter highlighting service complaints from customers. The incident drew criticism toward Aggarwal's response, adding to the company's image woes. What's Next for Traders? With the stock now hanging around critical support, traders are watching the Rs 38 level closely. A hold at this level could lead to a short-term bounce. But if it breaks decisively, analysts warn that Ola Electric may slide further to the Rs 35–31 zone. Until signs of a confirmed reversal emerge, analysts suggest caution. The broader trend remains bearish—for now, the bulls remain on the back foot. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Swiggy shares jump over 20% in a month: Is a bigger rally brewing?
Swiggy shares jump over 20% in a month: Is a bigger rally brewing?

Economic Times

time24-06-2025

  • Business
  • Economic Times

Swiggy shares jump over 20% in a month: Is a bigger rally brewing?

Swiggy shares have jumped over 20% in the past month, fueled by technical strength, positive brokerage views, and macro tailwinds like festive demand and the upcoming 8th Pay Commission. Analysts see room for further gains, especially with improving margins and growth in its quick commerce vertical. Synopsis Swiggy shares have jumped over 20% in the past month, fueled by technical strength, positive brokerage views, and macro tailwinds like festive demand and the upcoming 8th Pay Commission. Analysts see room for further gains, especially with improving margins and growth in its quick commerce vertical. Swiggy shares have surged over 20% in the past month, reflecting renewed investor optimism after a prolonged consolidation phase. From its May 2025 lows, the stock has steadily recovered, riding on improved technicals, a positive outlook from top brokerages, and broader tailwinds such as the upcoming festive season and the likely rollout of the 8th Pay Commission. ADVERTISEMENT The recovery in Swiggy's stock price has been supported by improving technical strength. Amit Trivedi, Vice President, Technical Analyst at YES Securities, believes the trend remains "moderately positive." 'Swiggy, which debuted in the latter part of 2024, experienced a multi-month price correction between Dec'24 and May'25. However, since June 2025, the stock has demonstrated gradual recovery, managing to clear resistance levels in the 360–380 zone,' said Trivedi. He noted that the formation of multiple bullish candles indicates strong support at Rs 350, while sustained stability above Rs 380 could unlock upside potential toward the Rs 430 Bhojane, Equity Research Analyst at Choice Broking, echoed this view, recommending a buy-on-dips strategy. 'Swiggy has recently given a breakout from a parallel range on the daily chart. After a successful breakout and retest, the stock made a new high, indicating strong bullish sentiment,' he said. ADVERTISEMENT With RSI at 72.24 and a positive crossover in the Stochastic RSI, Bhojane expects the rally to continue, targeting Rs 440–460. He advises existing holders to trail stop-losses at Rs 365 and look for buying opportunities near Rs 375. Brokerages IIFL Capital and BNP Paribas have initiated coverage on Swiggy with bullish views, citing strong fundamentals and underappreciated potential in the quick commerce (QC) space. ADVERTISEMENT IIFL Capital has recently assigned a 'buy' rating with a target price of Rs 535, highlighting Swiggy's improving execution and strong positioning in food delivery. While the platform saw its food delivery market share dip from 46.5% in FY22 to 42.4% in Q1FY25, IIFL attributes this to short-term execution issues.'We expect Swiggy's food delivery vertical to grow at 18% CAGR over FY25–28, with Adjusted EBITDA margins expanding to 20% by FY28,' IIFL said. Contribution margins have already improved from 7.1% to 7.8% of gross order value (GOV) between FY25 and Q4FY25, aided by better monetisation, ad revenue, and cost optimisation. ADVERTISEMENT Quick commerce remains a key growth driver. IIFL believes that Swiggy's 10-minute delivery service, Bolt, now accounting for 12% of orders, along with strong execution, gives it an edge in a duopoly market. Notably, IIFL sees Swiggy's non-food business as significantly undervalued compared to rivals like Paribas, too, has given an 'Outperform' rating to Swiggy, expecting it to outpace competitor Eternal in both sales and EBITDA growth by FY28. It points to a turnaround in execution, faster deliveries, and better monetisation strategies, particularly in quick commerce via Instamart, which it believes is not fully priced into current valuations. ADVERTISEMENT 'Despite near-term losses, Swiggy's QC play is part of a land-grab strategy. With profitability triggers such as better volumes and brand partnerships, a re-rating is possible,' BNP internal improvements, two broader tailwinds could further support Swiggy's growth trajectory in the coming the upcoming festive season, which typically sees a surge in online food and grocery orders, is expected to boost volumes across both food delivery and QC platforms. Analysts anticipate increased consumer spending and a rise in average order values as disposable incomes rise during this the expected implementation of the 8th Pay Commission—which is likely to benefit millions of government employees and pensioners—may lead to a broader consumption boost. Increased discretionary spending could flow into categories like online food ordering and quick commerce, especially in urban centres where Swiggy has a strong Swiggy's recent price action and analyst coverage suggest growing investor confidence, the road ahead will depend on its ability to execute consistently in both food delivery and quick festive demand, potential pay commission-led consumption, and margin improvement offer tailwinds. However, competition, customer retention, and sustained profitability remain critical areas to watch. Also Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO With sentiment improving and brokerages projecting robust earnings and market share gains, investors may continue to ride the Swiggy wave—but with an eye on delivery. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. 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Delhi Govt to host Yoga events at 11 locations with about 20,000 participants
Delhi Govt to host Yoga events at 11 locations with about 20,000 participants

India Gazette

time20-06-2025

  • Health
  • India Gazette

Delhi Govt to host Yoga events at 11 locations with about 20,000 participants

New Delhi [India], June 20 (ANI): Delhi Chief Minister Rekha Gupta announced that the Delhi government will officially celebrate International Yoga Day at 11 locations across the city, marking a significant scale-up in efforts to promote yoga. Approximately 20,000 people are expected to participate in these government-organised events. She criticised the previous government for allegedly politicising yoga and failing to organise official programs. A special yoga song for Delhi, composed by Amit Trivedi, has been introduced for the occasion. 'The Delhi government has decided that Yoga Day will be officially celebrated at 11 places. For the first time, the government is organising big events for Yoga Day on a large scale in Delhi, in which about 20,000 participants will participate in all these government programs. I have received more than 300 invites for Yoga Day, in which the people of Delhi want me to come. The previous government used to see Modi Ji's face in Yoga. So, they had problems adopting yoga, and they never officially organised yoga programs. This time, a very beautiful Yoga song for Delhi has been sung by Amit Trivedi,' she said. Delhi Chief Minister asserted that she will practice Yoga on the banks of the Yamuna on the International Day of Yoga. Speaking to the media ahead of International Yoga Day, she said, 'Tomorrow I will practice Yoga on the banks of Yamuna... Tomorrow will be celebrated like a festival in many places in Delhi... The Delhi government will celebrate this International Yoga Day with great enthusiasm.' Earlier in the day, she said that Prime Minister Narendra Modi made Yoga Day recognised on the world stage so that every country in the world is adopting Yoga with great affection today. Addressing an event at a Yoga, Meditation, and Medical Camp in Delhi's Shalimar Bagh ahead of International Yoga Day tomorrow, Chief Minister Rekha Gupta said, 'PM Modi got Yoga recognised on the world stage in such a way that every country in the world is adopting Yoga with great affection today... India will be able to prosper only if it remains healthy.' As India is gearing up to celebrate the 11th International Day of Yoga on June 21, the government is organising a multitude of events nationwide to mark the occasion with 'Yoga for One Earth, One Health' as this year's theme. (ANI)

Delhi To Host Yoga Events At 11 Locations, 20,000 Expected To Participate
Delhi To Host Yoga Events At 11 Locations, 20,000 Expected To Participate

NDTV

time20-06-2025

  • Entertainment
  • NDTV

Delhi To Host Yoga Events At 11 Locations, 20,000 Expected To Participate

New Delhi: Delhi Chief Minister Rekha Gupta announced that the Delhi government will officially celebrate International Yoga Day at 11 locations across the city, marking a significant scale-up in efforts to promote yoga. Approximately 20,000 people are expected to participate in these government-organised events. She criticised the previous government for allegedly politicising yoga and failing to organise official programs. A special yoga song for Delhi, composed by Amit Trivedi, has been introduced for the occasion. "The Delhi government has decided that Yoga Day will be officially celebrated at 11 places. For the first time, the government is organising big events for Yoga Day on a large scale in Delhi, in which about 20,000 participants will participate in all these government programs. I have received more than 300 invites for Yoga Day, in which the people of Delhi want me to come. The previous government used to see Modi Ji's face in Yoga. So, they had problems adopting yoga, and they never officially organised yoga programs. This time, a very beautiful Yoga song for Delhi has been sung by Amit Trivedi," she said. Delhi Chief Minister asserted that she will practice Yoga on the banks of the Yamuna on the International Day of Yoga. Speaking to the media ahead of International Yoga Day, she said, "Tomorrow I will practice Yoga on the banks of Yamuna... Tomorrow will be celebrated like a festival in many places in Delhi... The Delhi government will celebrate this International Yoga Day with great enthusiasm." Earlier in the day, she said that Prime Minister Narendra Modi made Yoga Day recognised on the world stage so that every country in the world is adopting Yoga with great affection today. Addressing an event at a Yoga, Meditation, and Medical Camp in Delhi's Shalimar Bagh ahead of International Yoga Day tomorrow, Chief Minister Rekha Gupta said, "PM Modi got Yoga recognised on the world stage in such a way that every country in the world is adopting Yoga with great affection today... India will be able to prosper only if it remains healthy." As India is gearing up to celebrate the 11th International Day of Yoga on June 21, the government is organising a multitude of events nationwide to mark the occasion with "Yoga for One Earth, One Health" as this year's theme.

Stocks to buy today: Swiggy, Wipro among 5 trading ideas for 20 June 2025
Stocks to buy today: Swiggy, Wipro among 5 trading ideas for 20 June 2025

Time of India

time20-06-2025

  • Business
  • Time of India

Stocks to buy today: Swiggy, Wipro among 5 trading ideas for 20 June 2025

Indian market is expected to consolidate, mirroring mixed global signals, after the Nifty50 closed slightly lower. Options data suggests a trading range between 24,300 and 25,300. Indian market may remain stable on Friday. This is due to mixed global signals. Nifty50 closed lower on Thursday. Options data suggests a trading range. Analysts recommend specific stocks for short-term trading. These include Swiggy, Eicher Motors and Wipro. Kotak Bank and M&M futures are also suggested buys. Experts advise traders to consider stop-loss levels. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau F&O Strategy: Amit Trivedi, VP at YES Securities told ETBureau The Indian market is likely to consolidate on Friday, tracking mixed global Nifty50 closed 18 points lower at 24,793 on Thursday. India VIX fell 0.14% to close at 14.26 in the previous the options front, the maximum Call OI is placed at 25,000 and then towards 26,000 strikes while the maximum Put OI is placed at 24,000 and then towards 23,000 writing is seen at 24,800 and then towards 26,000 strikes while Put writing is seen at 24,800 and then towards 24,000 strikes. Price action suggests that the Nifty50 index is facing selling pressure near the 25,000 mark.'Options data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,600 to 25,000 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited , said.'The FIIs long-short ratio is hovering near 20% from past few sessions but index witnessed selling pressure from higher levels as follow up buying was missing,' he said.'Now if it manages to hold above 24,700, up move can be seen towards 24,950 and 25,200 zones while a hold below the same could see weakness towards 24,600 then 24,450 zones,' recommended Target Rs 410| Stop Loss Rs 361Buy| Target Rs 5,830| Stop Loss Rs 5,340Buy| Target Rs 290| Stop Loss Rs 257Buy| Target Rs 2,272| Stop Loss Rs 2,080Buy| Target Rs 32,96| Stop Loss Rs 2,990: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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