Day: March 23, 2021

Morning Market Insight Report – 24 Mar 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In yesterday’s trading session, Bank Nifty gained 1.73%, with PSU and Private Banks gaining 2.91% and 1.73% respectively.

We expect intraday range could be 33,777 to 34,584 with sideways to positive momentum & broader range could be expected between 34,081 to 34,892 zone for this week.

Nifty Intraday Outlook

In yesterday’s trading session, Nifty ended in green after a highly volatile session, recovering all the losses of  the first half of today’s trading session.

We expect intraday range could be 14,602-15,014 with sideways to positive momentum while broader range could be 14,459 to 15,167.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

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Barbeque Nation Hospitality Limited IPO Note – Date, Price, Review & Details

Maitri Parikh

View – Long Term Investors Can Apply

Issue Highlights

Incorporated in 2006, Barbeque Nation is a leading casual dining restaurant chain in India, with 138 Restaurants in 73 cities domestically and 7 International Restaurants in 3 countries internationally.

The company has already raised ₹150 Crs through a pre-IPO placement from Xponentia Capital and Jubilant Foodworks.

Issue Details

Company Strengths

  • One of the fastest growing restaurant brands in CDR market.
  • Strong financials, with proven track record of revenue growth.
  • Attractive Veg and Non-Veg menu offerings, with constant innovation.
  • Experienced promotors and senior management team.

View

The company has been reporting negative net margins from continuing business since past two years. However, strong presence in the country and growing industry could be an aid for better performance in the long run.

Issue Break-Up

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