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June 12, 2023
- NALCO is moving in a Rising channel on the daily charts. This setup is poised to gain positive strength from the current levels.the indicator RSI is positive.Therefore, the stock looks good in the range of 84 to 81 and can test 95 support at 79. Positionalview
- UBL has seen a pullback after a Consolidation breakout on the daily charts.stock is poised for an upside rally from the current levels. momentum indicator RSI is positive .the stock looks good in the range of 1477 to 1452 and can test 1646 support at 1373. Positionalview
- NTPC has seen a Congestion Pattern Breakout on the daily chart.stock has witnessed this breakout with strong volumes. momentum indicator RSI is positive on the daily chart.the stock looks good in the range of 182 to 177 and can test 200 support at 171. Positionalview
- BALRAMPURCHINI is moving in a Rising channel on the daily charts. stock is gaining strength on every pullbacks. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good in the range of 404 to 397 and can test 460 support at 369. PositionalView
- MANAPPURAM FINANCE has seen a Triangle breakout on the daily chart.The price volume action is poised for a rally from the current levels. indicator RSI is positive on the daily chart. The stock looks good in the range of 117 to 111 and can test 134 support at 105. Positionalview
- *Som Distilleries - Hunter becomes no 1 selling brand in Delhi in May'23:*
- - Som has announced that their flagship strong beer, Hunter, has achieved a remarkable feat by emerging as the number one selling brand of strong beer in the state of Delhi for May'23. This achievement underscores the exceptional quality and popularity of Hunter among beer enthusiasts in the region. Delhi, known for its vibrant culture and diverse consumer preferences, presents a highly competitive market for beer brands. Despite the stiff competition, Hunter has not only captured the attention but also secured the trust and loyalty of beer lovers throughout the state. This achievement is a testament to the superior taste, craftsmanship, and brand appeal that Hunter embodies.
- *Som has given tough competition to UBL in Karnataka and secured ~15% market share in trialing two years through its PowerCool brand. Som from being a leader in MP state is gradually expanding to other states. Delhi in our view is ~15-16mn cases industry with UBL being market leader. Profitability is probably lower in Delhi as breweries are not allowed and Beer thus needs to be imported from other states.*
- *While margins are expected to improvise for UBL due to decline in barley prices, price increases in certain states; competition from Som, ABInBev and thus lower volume growth/loss of market share remains a concern*.
- Regards, Himanshu Shah
- Analyst, Dolat Capital
