Markets ended on a flat note after an initial attempt to breach crucial support of 19,600 while India’s VIX tanked to the 10.2% mark on expectation of Fed commentary would turn dovish after the last hike of 25 bps. The Sensex Top 9 stocks Index holds 67% weight within Sensex 30 showing signs of a major downturn with an immediate target of 7% lower. The recent Breakout in Brent Crude prices may act as an important trigger for extended downfall in Indian markets after the Nifty breaches 19600 levels.
Sensex top-9 stock index
Stocks to watch
Positive Read Through
- Tata Motors Q1 results above estimates led by JLR, expect CV demand to improve QoQ
- Tata Motors DVR- to cancel ‘A’ ordinary shares, issue 7 ordinary shares for every 10 ‘a’ shares
- L& T Q1 above estimates, order inflow up 57 pct YoY, the board approves Rs 100,000 mn Buyback
- Ajmera Realty net profit up 82 pct, margin at 32.1 pct vs 29.6 pct YoY
- Amber Enterprise’s margin rises 240 bps, EBITDA up 33 pct YoY
- UTI AMC Q1 revenue rises 55.5 pct, NII up 9.7 pct QoQ
- Man Infra EBITDA up 63.3 pct, margin at 21.4 pct vs 19.5 pct YoY
- Ceat margin improves for 4th straight quarter, sales up 4.1 pct YoY
- Triveni Engineering EBITDA rises 9.6 pct, margin up 30 bps YoY
- Sunteck Realty pre-sales up 16 pct at Rs 3,870 mn, collections flat YoY
- Dhampur Bio EBITDA rises 27.3 pct, net profit up 53 pct YoY
- Agi Greenpac margin at 24 pct vs 17 pct, EBITDA rises 45.8 pct YoY
- PEL- The Board of Piramal Enterprises will meet on July 28 to consider a share buyback proposal.
- Union Bank has entered a strategic partnership with IBM to act as System Integrator in its digital push
Negative Read Through
- CYIENT $ revenue down 3.6 pct, EBIT margin flat at 14.7 pct QoQ
- SBI LIFE VNB Margin below estimates at 28.8 pct, value of new business down 1.1 pct YoY
- SRF expects weakness in the packaging biz in the medium term, analysts cut rev estimates.
- CAN FIN homes 3 employees at the Ambala branch commit fraud of an estimated Rs.385.3 mn
- DIXON TECH margin dips across segments sequentially, Q1 In-line with estimates
- DELTA CORP Margin remains flat, EBITDA rises 9.5 pct YoY
- SPICE JET under maintenance aircraft at Delhi Airport catches fire
- Inox Green- Authum Investment and Infrastructure sold 15 lakh shares at Rs 63.6 per share.
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