Cholamandalam: All Eyes on ₹1,310—Can Earnings Push It Higher?

Cholamandalam Investment and Finance

Market Cap: 1.09 T
Free Float Shares: 50.28%
Closely Held Shares: 49.72%

Revenue Streams
Vehicle Finance: 57.96%
Loan Against Property: 15.81%
Home Loans: 8.77%
Unallocable: 3.71%
Other: 13.76%

Earnings and Revenue Date (Dec '24): Friday 31, Jan 2025

With earnings and revenue data scheduled for release tomorrow, Cholamandalam Investment and Finance Company Limited is approaching a critical juncture. The stock is currently testing an initial resistance level at ₹1,310.

Technical Indicators:

Weekly MACD: The Moving Average Convergence Divergence (MACD) on the weekly chart indicates strengthening buying momentum, accompanied by a decline in selling pressure.

Financial Performance:

In the quarter ending September 30, 2024, the company reported:

Total Revenue (YoY): ₹63.22 Billion (34.66% inc.), a significant increase from ₹46.95 Billion in the previous quarter. -TV Financials

Net Income (YoY): ₹9.68 Billion (25.22% inc.), up from ₹7.73 Billion in the prior quarter. -TV Financials

Resistance Levels:
Should the upcoming earnings report meet or exceed market expectations, the stock may break through the ₹1,310 resistance, with subsequent resistance levels at:

• R2: ₹1,458
  
• R3: ₹1,653
  

Market Outlook:
It's important to note that the broader market is anticipated to undergo a correction until March 2025, which could result in heightened volatility during this period.

Disclaimer:
This analysis is for informational purposes only and should not be construed as financial advice. Investing in the stock market involves risks, and it's advisable to consult with a certified financial advisor before making investment decisions.