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Shares of Campus Activewear on Wednesday rallied 13% after the company reported a 42.6% YoY increase in its PAT for the fourth quarter of the financial year 2024.The company also posted a 4.6% YoY increase in revenue at Rs 363.9 crore while the EBITDA rose by 16% at Rs 66.4 crore vs Rs 57.1 crore in the fourth quarter last year."Despite a challenging business environment, we remained committed to strengthen our balance sheet. The Company repaid its borrowing of INR 156 Crore in FY24, thereby achieving net-debt free status during FY24. Additionally, we have made significant improvement in our working capital days from 108 days in FY23 to 79 days in FY24 led by lower inventory and conscious trimming of receivable days," said Nikhil Agarwal, CEO of Campus Activewear.Here is how brokerages viewed the Q4 results:Motilal OswalThe ongoing weak environment, coupled with the churn in distributors and decline in O2O business partners, has hurt revenue growth. However, softgrowth in the TD channel offset the O2O/B2B business declines. Elevated SG&A expense will be a headwind for EBITDA margin improvement.Motilal has retained a 'buy' rating for Campus with a target of Rs 295.Also read: Hindalco shares surge 2% after company arm Novelis files 45 million shares in IPOJM FinancialPremiumisation/ASP-led growth will be lower as the company has pivoted to the mid/economy segment. On the balance sheet side, the reduction in debt and receivables is positive. Volume delivery has lagged expectations and the pace of recovery in the same & sustainability of margins will be a key monitorable for the stock in the near term, in JM Financial's view.JM Financial has maintained a 'buy' rating on the stock with a target price of Rs 285 with a view of 12 months.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Indian stocks need Prime Minister Narendra Modi’s party to win more than 303 seats in the general election to extend their record rally, according to a Bloomberg News survey of market participants. A smaller majority for the ruling Bharatiya Janata Party may lead to a drop of about 2% in the NSE Nifty 50 Index, with the rupee and sovereign bonds also expected to fall, according to a mean of forecast by 32 asset managers, strategists and dealers. However, a victory exceeding 303 seats — the party’s count in the 2019 polls — may result in gains of about 3% in the benchmark stock gauge, the survey showed. Winning by a landslide would give Modi the mandate needed to push through politically difficult reforms in land acquisition and labor that are seen as crucial for accelerating India’s economic growth. While investors still back Modi to win a third term, low voter turnout and reports of close contests in some areas have tempered their enthusiasm about his expected victory margin since elections began on April 19. 110521172“If he were not to win, that would create some uncertainty and put some pressure on valuation,” Henry Mallari-D’Auria, chief investment officer for global and emerging markets at Ariel Investments LLC, said in an interview. “At this time, there is little uncertainty about the outcome of this election.” Indian equities have risen to records, while the currency and bond markets are near their highest levels in over two months days ahead of the election results on June 4. Predictably, volatility has spiked in both the stock and rupee markets. The gauge of 30-day implied volatility on the National Stock Exchange Ltd. has more than doubled from a low in April, while the same in the one-month part of the dollar-rupee options curve has steadily risen since the election began. 110521206Meanwhile, global funds have pulled $2.9 billion from local shares this month. Indian equities have trailed peers in Asia this year as rich valuations of about 20 times 12-month forward earnings and elections jitters deter foreign investors.Still, some participants foresee stock benchmarks rallying at least 20% should Modi fulfill his promise of his party and its allies winning more than 400 seats. JM Financial Ltd., Emkay Investment Managers Ltd. and UBS Group AG expect the ruling alliance to win more than 300 seats. That said, UBS in a report last week warned that a change in government could see Indian equities “test pre-Modi” valuation of about 15 times one-year forward earnings. 110521252“The robust economic momentum combined with a larger global trade footprint by the PM suggest that on balance - a bigger majority versus elections five years ago,” said George Boubouras, managing director at K2 Asset Management Ltd. The Melbourne-based asset manager anticipates a “double-digit positive rally if BJP wins more than 400 seats.”

The Indian market is likely to trade lower on Wednesday tracking muted global cues.The Nifty future closed negative with losses of 0.25% at 22,925 levels on Tuesday. India VIX was up by 4.36% from 23.19 to 24.20 levels.On the Options front, the maximum Call OI is placed at 23,000 and then towards 23,200 strikes while the maximum Put OI is placed at 22,500 and then towards 22,700 strikes.Call writing is seen at 23,000 and then towards 23,100 strikes while minor Put writing is seen at 22,700 and then towards 22,800 strikes.“Options data suggests a broader trading range in between 22,500 to 23,300 zones while an immediate range in between 22,750 to 23,050 levels,” says Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.In the cash market, both FIIs and DIIs were net buyers on Tuesday to the tune of 65.57 cr and 3231.67 cr respectively. FIIs' Long short ratio for index futures has further improved to 53.96 as on a net basis, they bought 25,397 index futures.“For the May monthly series, OI PCR is at 0.80, and max pain is at 22,900 strikes. The zone of 22,730-22,780 will act as crucial support for the index. Any sustainable move below the level of 22,730 will lead to an extension of correction up to the level of 22,600 level,” says Sudeep Shah, Deputy Vice President and head of Technical and Derivative Research, SBI Securities.“While, on the upside, the zone of 22,950-23,000 level will act as crucial #resistance for the index. Any sustainable move above the level of 23,000 will lead to resuming its northward journey,” he said.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:Expert: Ajit Nayak, Technical and Derivative Research Analyst at HDFC Securities told ETBureauCoromandel International: Buy| Target Rs 1367| Stop Loss Rs 1237CIE Automotive India: Buy| Target Rs 573| Stop Loss Rs 520Divi’s Laboratories: Buy| Target Rs 4628| Stop Loss Rs 4189Expert: Kunal Bothra, Market Expert told ETNowExide Industries: Buy| Target Rs 530| Stop Loss Rs 494Asian Paints: Buy| Target Rs 3100| Stop Loss Rs 2800CIE India: Buy| Target Rs 600| Stop Loss Rs 600(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)