Markets managed to end in positive terrain after initial hours of losses with gains mainly contributed from Reliance industries while banking index ended in the red. Crucial level to watch in today’s trading session in Nifty spot would be 22,600 above which, we expect momentum to accelerate further for upside target of 23,500. Some of the heavy weights like HDFC Bank, Kotak Bank and TCS which has so far remained laggard are also likely to see surge of 10-15% in the coming days as broader market may trigger profit booking and rally may be concentrated to Nifty 50 Index.
Result Today – ITC
Nifty50 Chart
Stocks to watch
Positive Read through
- Grasim Ind – Cellulosic fibres business EBITDA increased by 15 pct, margin rises 250 bps QoQ.
- Jubilant Food – India business in-line, Domino’s LFL turns positive after 4 quarters, up 0.1 pct.
- Ramco Cements – Net debt reduced by Rs. 1 bn, Q4 largely above estimates.
- Garden Reach – EBITDA grew 3.4 pct, margin at 8.9 pct vs 3.4 pct YoY.
- PG Electroplast – Sales jumped 27 pct, margin at 10.8 pct vs 9.1 pct (YoY).
- Gujarat Pipavav – Margin at 62.6 pct vs 55.3 pct, EBITDA inches up 21.1 pct YoY.
- Oil India – In pact with NRL for transportation of additional petroleum products via Numaligarh-Siliguri Product Pipeline.
- Nykaa – EBITDA up 32 pct, overall gross market value rises 32 pct YoY.
- Metro Brands – EBITDA grew 10.5 pct, margin at 27.2 pct vs 26.4 pct YoY.
- Zydus Life – Company receives US FDA approval for asthma treatment drug.
- Mahindra Finance – Receives IRDAI approval to sell insurance products as corporate agent.
- Data Patterns – Expects to receive another Rs. 10 bn order intake during the course of this FY.
- Star Health – USD 266.33 mn block deal launched, at Rs 530- 538/sh.
Negative Read through
- Sun Pharma – Expects high single-digit sales growth in FY25, no EBITDA guidance.
- Power Grid – Q4 misses estimates, margin at 82.7 pct vs 88.9 pct YoY.
- Petronet LNG – Margin at 8 pct vs 11.6 pct, EBIDTA declined 35 pct QoQ.
- Gland Pharma – Q4 results below estimates, India business sales declined 19 pct YoY.
- Torrent Power – Margin at 17 pct vs 18.1 pct, net profit declined 7.6 pct YoY.
- Keystone – To raise up to Rs. 10 bn via QIP, indicative price at Rs. 660/share.
- Deepak NTR – Excessive dumping of products by China in the Indian market is posing a challenge for the company.
- Everest – Posted profit at Rs 50 mn vs Rs 130 mn, Sales at Rs 4320 mn vs Rs 4460 mn YoY.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
