Market activity remained muted throughout the trading session yesterday as the Interim Budget was devoid of any major changes with Sensex finally ending in slightly negative terrain. The India VIX dropped sharply by 10% opening gates for further put writing after the event was over. The overall outlook for the market remains positive with 70,665 seen as major support and Sensex is expected to test 74,000 in the next few days after re-entry into the breakout zone.
Results Today – Interglobe Aviation, Kirloskar Ferrous, Metropolis, Tata Motors, UPL.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Hero Moto – Jan total sales increased by 21.6 pct at 4.33 lk, exports rise 74.6 pct YoY.
- TVS Motor – Jan total sales increased by 23 pct, exports rise by 22 pct YoY.
- MGL – To acquire a 100 pct stake in Unison Enviro for Rs. 5.62 bn.
- NMDC – January production increased by 8.1 pct, sales rise 18.8 pct YoY.
- Indian Hotels – Posted best-ever quarter, EBITDA increased by 22.6 pct YoY.
- Abbott – EBITDA increased by 24.2 pct, margin at 27 pct vs 23.6 pct YoY.
- Minda Corp – EBITDA increased by 13.7 pct, margin at 11.1 pct vs 10.7 pct YoY.
- Gmm Pfaudler – Profit increased by 69.5 pct, sales rises 8 pct YoY.
- Castrol – Q4CY23 margin at 26 pct vs 21.3 pct, EBITDA increased by 31 pct YoY.
- Pricol – EBITDA increased by 32.9 pct, margin at 11.8 pct vs 10.8 pct YoY.
- RPG Life – Margin at 24.6 pct vs 22 pct, sales increased by 18 pct YoY.
- Bayers Crop – EBITDA rises by 50 pct, margin at 13.4 pct vs 8.2 pct YoY.
- SIS – EBITDA increased by 19.7 pct, margin at 5 pct vs 4.3 pct YoY.
- Godrej Agrovet – EBITDA increased by 14.9 pct, margin stands at 6.8 pct Vs 5.9 pct YoY.
- Aviation stocks – Domestic and international air traffic witnesses growth.
Negative Read through
- Eicher Motors – Royal Enfield sales declined by 2 pct YoY at 76,187 units.
- Mphasis – CC sales growth below est at 1 pct, margin slips 50 bps QoQ.
- Bata – Margin at 20 pct vs 23 pct, EBITDA declined by 11.5 pct YoY.
- Ashok Leyland – Jan total sales declined by 7 pct, M&HCV sales decline 15 pct YoY.
- Indus Towers – KKR, CPP sell shares worth Rs. 39.73 bn via block deals.
- City Union Bank – NIM at 6-year low, NII declined by 7.2 pct YoY.
- Sonata Soft – Margin at 8.2 pct vs 10.3 pct QoQ, exceptional loss at Rs. 1.74 bn.
- Paytm – Will only work with other banks hereon, require operational changes.
- Gokaldas – EBITDA declined by 1.3 pct, margin at 11.3 pct vs 12.2 pct YoY.
- HFCL – EBITDA declined by 30.8 pct, margin at 11.3 pct vs 15.6 pct YoY.
- Panacea Bio – US FDA classifies Baddi, HP unit as official action indicated.
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