Q4 Results Today: Tarai Foods, VAS Infra, and 3 Other Companies to Release Earnings

Today, financial markets are bracing for the release of fourth-quarter earnings from several major companies scheduled for May 31. These results will cover the period ending March 31, 2024, including reports from Add-Shop ERetail Ltd, Athena Constructions Ltd, Panorama Studios International Ltd, Tarai Foods Ltd, and VAS Infrastructure Ltd.

Indian benchmark indices ended lower for the fifth straight session on May 30, with the Nifty dropping below 22,500. The Sensex fell 617.30 points to 73,885.60, while the Nifty declined 216.05 points to 22,488.65.


The market saw a tough monthly expiry day, with the benchmark index under pressure and testing various technical supports. Bulls attempted to recover lost ground, but the day closed with the Nifty50 settling below 22,500, down by 0.95 percent, according to Osho Krishan, Senior Analyst at Angel One.

Krishan noted that bears took advantage of the situation to strengthen their position, leading to more declines than advances. The index tested the 50% Fibonacci retracement level of the recent rally, indicating caution. Krishan suggested that 22,450-22,400 could be the last hope for bulls, with 22,600-22,620 seen as intermediate hurdles and 22,800 as a strong resistance in the short term.

He advised caution due to potential volatility from exit polls and recommended careful stock selection and risk management to avoid losses.

Prashanth Tapse, Senior VP at Mehta Equities Ltd, noted that the Nifty continued its downward trend for the fifth consecutive day due to election-related nervousness, with the Sensex also dropping. However, the Bank Nifty gained despite the anxiety. He highlighted key losers like Tata Steel and Tech Mahindra, with gainers including ICICI Bank and Axis Bank. Tapse suggested a bullish outlook as long as Nifty holds above 22,300, with targets at 22,701 and 23,111, but emphasized the importance of sustained rise above 23,000 to overcome market uncertainties.

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