Dalmia Bharat, NMDC, and Wipro shares were in high demand on Friday. Dalmia Bharat touched yearly highs and the stock closed almost near the day's high. Wipro managed to the close the session with 2.2 percent gains. PSU major NMDC also closed the session with gains. The stocks are looking bullish on technical charts and Dalmia Bharat could see further gains next week. TopNews Team has reviewed technical levels for these stocks. Dalmia Bharat surged to new highs, fueled by robust financials and an ESG upgrade, setting the stage for heightened investor anticipation. NMDC delivered notable gains amid bullish technical cues and operational discipline, although debates about valuation and sector headwinds remained. Wipro outperformed its technology peers with strong earnings and landmark deal wins, inciting a wave of analyst upgrades and institutional interest.

Dalmia Bharat: Rally Accelerates on Results Anticipation and ESG Momentum

Dalmia Bharat closed trading on July 18, 2025, at ₹2,251.80, ascending 2.85% from the prior session and marking a new 52-week high. The stock’s outperformance over its sector and broader benchmarks was catalyzed by a 30.02% quarter-on-quarter topline increase—the most robust growth in three years.

The company’s Board is set to review its unaudited results for the quarter ending June 30, 2025, on July 22, with an analyst conference call slated for the following day. The palpable anticipation is reflected in the share price’s pre-results ascent, hinting at either strong quarterly figures or imminent corporate action. Such events remain focal points for near-term market direction, especially as investors monitor management guidance and sector developments.

Dalmia Bharat's dividend policy offers stability and income appeal; a final dividend of ₹5 per share was declared on April 23, following an interim dividend of ₹4 per share in October 2024. Key financial metrics as of March 2025 include a debt-to-equity ratio of 0.30, P/E of 50.02, and P/B of 1.99—indicative of shareholder prudence and valuation premium.

Notably, ICRA upgraded Dalmia Bharat’s ESG score to an “Exceptional” 80 on July 18, a significant recognition as ESG credentials increasingly attract institutional flows and underpin premium valuations. On the technical front, a bullish MACD crossover was accompanied by the share price sailing above all key moving averages (5, 20, 50, 100, 200 days), reinforcing the bullish sentiment. Statistically, historical MACD signals on this stock have delivered average returns of nearly 5% within ten days.

A survey of 30 financial analysts reveals increased optimism:

Axis Securities affirms a ‘Buy’ call with a ₹2,260 target price, just above current levels. Broader analyst consensus for a 12-month target is ₹2,064.50, a signal of modest downside after recent gains but with substantial institutional interest. Key upcoming events, such as the imminent board meeting and ESG news, are poised to trigger volatility and possibly advance a premium re-rating.

NMDC: Technical Breakouts and Operational Strength Amid Market Ambivalence

On July 18, 2025, NMDC shares settled at ₹71.44, notching a 2.71% daily rise and a 4.29% gain for the month. Surprisingly, this momentum emerges even as the stock trades near the bottom of its 52-week range (High: ₹82.96, Low: ₹59.53). Technical analysis points to a bullish 200-day moving average crossover observed on July 17, which, over the last five years, has delivered average thirty-day returns of 4.6%. Additional MACD and 14-day EMA crossovers reinforce this positive bias, suggesting continued upside ahead for technically oriented investors.

On the corporate front, a significant block deal involving 1.15 million shares occurred on July 14, propelling short-term price appreciation and deepening market liquidity. The company’s annual report underscores efficient operations: interest expenses consumed less than 1% of revenues, while employee costs accounted for just 7.51% for the financial year closing March 2025. These data confirm NMDC’s low leverage and streamlined cost structure.

Fundamentally, NMDC stands out in the mining sector with a P/E of 9.35 and P/B of 2.06 (compared to a sector P/E average of 15.5x). The firm’s annualized revenue growth of 12.44% far exceeds its prior three-year CAGR of -1.39%, indicating clear operational resurgence. With a market cap of ₹62,808.74 crore, NMDC is second only to sector leaders.

Analysts remain divided. Among 18 surveyed, 50% recommend holding the stock, a quarter suggest buying, and the rest are cautious or negative. Expectations are as follows:

• Buy: ₹89 (highest target, optimistic scenario)
• Hold: ₹73.72 (average 12-month target, ~6% upside)
• Sell: ₹55 (lowest target, risk scenario)

While intrinsic value is estimated at ₹81.64, suggesting some upside, caution lingers as forecasts hinge on steel demand, global ore prices, and currency volatility. S&P Global characterizes the consensus as neutral to slightly positive, buoyed by improved fundamentals and cost discipline. The convergence of bullish technical indicators, encouraging revenue trends, and robust internal controls makes NMDC attractive for tactical traders and value investors attentive to cyclical mining plays.

Wipro: Leading IT Performance Amid Volatility and Analyst Rerating

Wipro made waves in the Indian IT landscape with its July 18 share surge of 4.3% following quarterly results that outperformed consensus. For Q1, revenue inched up 0.8% year-on-year, but net profit outpaced growth expectations with an 11% annual increase, both metrics outshining peer giants TCS and HCLTech, which suffered revenue declines during the period.

Crucially, large deal wins reached $2.66 billion—a staggering 131% YoY spike—demonstrating renewed traction in client engagement, particularly in the Americas. The company declared a dividend of ₹5 per share (record date: July 28), beefing up its appeal to yield-focused investors.

Distinguishing itself from sector laggards, Wipro’s performance came during a period of macroeconomic uncertainty and tepid technology spending statewide. CEO Srini Pallia emphasized relentless client focus on cost optimization, vendor consolidation, and an expanding portfolio of AI-driven projects. His forward-looking commentary pointed to a promising H2 2025, undergirded by transformative deals and heightened digital transformation demand.

Q2 revenue guidance is set between $2.17 and $2.23 billion, amounting to a sequential change of -1% to +1%—a prudent forecast that aligns with ongoing market volatility.

Brokerage and analyst sentiment swung decisively positive in the wake of these numbers:

• Six major brokerages upgraded their Wipro ratings
• Ten firms raised price targets
• Morgan Stanley cited strong deal wins as evidence of “positive prospects for growth”
• Citi Research upgraded from ‘Neutral’ to ‘Buy’, highlighting strong client engagement and cost management

Despite broader optimism, some Wall Street commentaries retain a cautious “Reduce” stance, noting potential margin and client-spending risks. Current valuation metrics include a P/E of 20.8 and a P/B of 3.3—neither particularly cheap, but supported by renewed institutional accumulation.
Performance metrics further reflect Wipro’s robust position:

Wipro’s ascent has attracted increased institutional flows, signaling confidence in its upward trajectory and strategic execution.

Strategic Implications and Conclusions for Investors

For Dalmia Bharat, keep a close watch on the impending Q1 FY26 disclosures and further board developments. The intersection of technical leadership, ESG upgrades, and analyst optimism positions the stock for further rerating, though elevated valuations may temper forward returns.

In NMDC’s case, tactical opportunities emerge from technical momentum and deep value metrics, although sector cyclicality and external variables such as iron ore price dynamics warrant vigilance. Monitor major block activity for demand signals, alongside management’s cost stewardship and global commodity cues.

Wipro sets itself apart this earning season, not only by outperforming its IT peers but also by triggering a meaningful rerating among analysts and institutions. Nevertheless, investors should remain mindful of global macro risks and sustain diligence around operational execution and pipeline conversion into H2.