Markets zoomed towards higher levels on back of booster dose from Nifty Bank with the index surging 1200 points. A major breakout is active in Nifty Bank above 49,000 for a potential target of 54,500.
Following a positive close in the US cash market, US futures trading higher. Asian markets are trading in green amid the supportive overnight cues. Crude remains constant amidst ceasefire talks in the West Asia. Brent is at USD 88/bbl.
Result Today – Havells, IOC, Exide Industries
S&P BSE Bankex Chart
Stocks to watch
Positive Read through
- Tata Elxsi – In pact with Tata Power Community Development Trust for the neurodiversity platform Pay Autention.
- NMDC – Hikes lump ore price by Rs. 400 & fines by Rs. 200/tonne.
- Poonawalla Fin – Q4 disbursals grew 52.1 pct, AUM surged 54.9 pct YoY.
- UCO Bank – NII up 10.9 pct YoY, approves fund raise for FY25 via issue of 4000 mn shares.
- KFin Tech – Sales rose 4 pct, margin at 45.80 pct vs 44.80 pct QoQ.
- Jana SFB – Aum jumped 25.60 pct, GNPA ratio at 2.11 pct vs 2.19 pct QoQ.
- KEC Intl – Bags new orders worth Rs. 10.36 bn across its various businesses.
- SBFC Fin – Promoter group likely to sell entire 5.45 pct stake via block.
- RVNL – Gets LoA for a project worth Rs. 4.38 bn from Southern Railway.
- Linde India – SEBI asks NSE to appoint a valuer to assess business with Praxair.
- Spandana – Q4 AUM rose 40.7 pct, Disbursals increased by 30 pct YoY.
- Shoppers Stop – Profit jumped 62.30 pct, Sales rose by 13.20 pct YoY.
- Vesuvius India – Q1CY24 margin at 21 pct Vs 15 pct, Profit up 58.50 pct YoY.
- Rossari Bio – EBIDTA grew 16.50 pct, Sales up 16.30 pct YoY.
- Gillette India – EBIDTA up 19.90 pct, margin at 23.60 pct Vs 21.60 pct YoY.
Negative Read through
- Everest – MDH Spice Shipments: USA Rejects 31 pct of Spice Shipments; Singapore and HongKong Suspend Sales.
- Birlasoft – USD sales growth below estimates at 1.60 pct QoQ, FY24 new deals wins down 3.9 pct.
- Tata Chemicals – EBIDTA fell by 54 pct, margins at 12.70 pct vs 21.90 pct YoY.
- Can Fin Homes – Disbursals declined by 8.8 pct YoY, AUM growth lowest in 11 quarters.
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