Markets ended unchanged on Monday after Nifty Futures attempted to hold above crucial support of 50 DMA with formation of doji star. The delay of Israel ground invasion of Gaza has provided short-term relief for the U.S markets with Brent crude prices retracting below USD 90 a bbl. The Nifty futures too already has positioned with Head & Shoulder top and any further escalation could trigger breakaway gap down opening below 19400 for an immediate target of 18,400. We expect Indian markets provide lead signals as it has been very sensitive to crude price rise.
Result Today – Bajaj Finance, L&T Technology Services, Tata Elxsi
Nifty Futures
Stocks to watch
Positive Read through
- HDFC bank – Results above estimates, GNPA ratio stood at 1.34 pct vs 1.41pct QoQ.
- Bajaj Fin – Sets to acquire 26 pct stake in Pennant Tech for Rs. 2675 mn in all-cash deal.
- Grasim – Board approves fund raise of Rs 40,000 mn via rights issue.
- Cochin Ship – Wins order of Rs. 3,134 mn from Ministry of Defence.
- Tata Power – Renewable Energy arm signs PDA with Endurance Tech.
- Data Patterns – Signs strategic transfer of technology agreement with IN-SPACe.
- Ceat – Gross margin increased by 230 bps QoQ, sales up by 5.5 pct YoY.
- Jio Fin – Dividend income came at Rs. 2168 mn vs nil, net income rises by 50.6 pct QoQ.
- Piramal Ph – Launches In-Vitro bio capabilities at A’bad discovery svcs site.
- Piramal Ph – Launches In-Vitro bio capabilities at A’bad discovery svcs site.
- Kec Intl – Got new orders of Rs. 13,150 mn across various businesses.
- Som Distilleries – Contract manufacturing agreement in J&K for the manufacture of IMFL.
- Nlc India – Incorporates wholly-owned subsidiary Nlc India Green Energy.
Negative Read through
- Kirloskar Electric – The management has declared a lockout at the company’s unit 15 in Bengaluru rural district.
- Godrej Prop – CIDCO issues cancellation order for two Navi Mumbai plots.
- Delta Corp – BOFA Sec sells 0.3 mn shares, Societe Generale Sells 1.35 mn shares.
- Cyient DLM – Margins declined by 5 pct, Sales declined by 72 pct YoY.
- Just Dial – KIADB cancels allotment of Bengaluru Urban District land.
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