Markets remained under pressure on Tuesday on back of selling pressure in Nifty Bank but recouped losses in last hour of trade to end with loss of less than 0.4%. The sectors namely metals and pharma managed to outperform key indices while financials turned out to be a major drag. At the current juncture 71,483 is likely to act as a crucial support below which we can expect selling pressure to trigger wider cracks and force Nifty 50 to test 20,900.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Coal India – Non-regulated sector supplies till Dec FY24 at an all-time high of 98 MT.
- Hind Zinc – Mined metal Pdn at 271 kt, up by 7 pct, integrated saleable metal up by 1 pct YoY.
- RVNL – JV gets LoA worth Rs 1.23 bn to upgrade Varkala Sivagiri Railway station.
- Strides Pharma – Amansa holdings buys 1.22 mn shares, 1.35 pct equity at Rs. 659.80/sh via block.
- Shyam metalics – As per report, company to raise up to Rs. 13.85 bn via QIP at Rs. 576/share.
- Moil – Record production in Dec at 1.85 lk tonnes, up by 31 pct YoY.
- Yes Bank – Deposits increased by 13.2 pct, Casa ratio at 29.67 pct vs 29.93 pct YoY.
- Bank of Mah – Deposits increased by 17.9 pct, advances rise 20.3 pct YoY.
- PNB – Deposits increased by 9.35 pct, CD ratio at 73.45 pct vs 70.79 pct YoY.
- V-mart – Q3 revenue up by 14 pct, same- store-sales growth at 4 pct YoY.
- VST Ind – Radhakishan Damani acquires 0.22 mn shares via block deal.
- Sun Pharma – Company acquires Israel’s Libra Merger.
Negative Read through
- Hero Moto – Dec sales below estimates at 3.93 lakh units, expects positive movement Q4 onwards.
- LIC – Get interest and penalty notice worth of Rs. 1170 mn for FY18.
- Avenue Supermart – Soft Q3 update, standalone sales up by 17.2 pct YoY, Total stores at 341.
- CSB Bank – CD ratio declines to 83.6 pct vs 88.32 pct, Deposits up by 7.50 pct QoQ.
- Shyam Meta – Lunched QIP, Indicative price at Rs 576 per share; discount of 10.4 pct to closing price.
- Hindustan Unilever – Tensions soar between Hindustan Unilever and its distributors.
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