Markets for the week ended lower by 0.5% on concerns of uncertainty over raising the U.S Debt ceiling while late recovery on Friday above 18,200 helped Nifty to trim its weekly losses. The Nifty in USD terms clearly shows completion of corrective wave 4 which managed to retrace around 23.6% and expect Wave 5 to gain momentum on move past 18241 in the Nifty spot with possible upside seen at 11% in USD terms.
Nifty in USD terms
Stocks to watch
Positive Read through
- JSW Steel- Q4 results above estimates, EBITDA per ton at Rs 11000 a ton.
- Bandhan Bank- FY24 loan growth guidance at 20 pct, target NIM at 7-7.5 pct.
- Divis- Q4 revenue above estimates, margin at 25 pct vs 23.9 pct QoQ.
- NTPC- profit above estimates, EBIDTA rises 3.7 pct YoY.
- BEL- meets FY23 revenue guidance, margin at 28.3 pct vs 24.9 pct YoY.
- TCS-led consortium gets advance purchase order of Rs 15,000 cr from BSNL for 4G deployment
- Power Grid- Q4 results above estimates, EBITDA up 16.8 pct YoY
- Crompton Greaves- ECD segment EBIT up 35 pt QoQ, gross margin improves YoY
- IRB Infra- EBIDTA up 18.3 pct, margin rises more than 200 bps YoY
- Welspun Enterprises- EBIDTA rises 25.5 pct, revenue up 77.5 pct YoY
- Va Tech Wabag- EBIDTA rises 51.6 pct, margin at 11.7 pct vs 8 pct YoY
- Zomato- Blinkit revenue up 21 pct QOQ, highest ever food delivery EBIT margin ay 7 pct
Negative Read through
- Glenmark- Net loss at Rs 428.3 cr vs profit YoY, Indian business revenue down 6.4 pct YoY
- Delhivery- Net loss at Rs 158.6 cr vs loss of Rs 119.8 cr YoY
- Sun TV- EBITDA down 11.7 pct, margin at 59.2 pct vs 65.8 pct YoY
- Abbott- EBITDA down 4.6 pct, margin at 20.9 pct vs 23.4 pct YoY
- JK Lakshmi- EBITDA down 28.3 pct, margin at 12.5 pct vs 20.3 pct YoY
- MCX- Operating profit down 94 pct, margin at 2 pct vs 23 pct QoQ
- Cochin Shipyard- Revenue down 50.5 pct, net profit slips 85.7 pct YoY
- VRL Logistics- EBITDA down 0.7 pct, margin at 16.3 pct vs 19.4 pct YoY
- Balaji Amines- EBITDA down 52.5 pct, margin at 20.4 pct vs 27.6 pct YoY
- Dodla Diary- EBITDA down 28 pct, margin at 4.7 pct vs 7.9 pct YoY
- Godawari Power- EBIDTA down 32.5 pct, margin at 20.4 pct vs 27.6 pct YoY.
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