Market activity remain lackluster for the third consecutive trading session to finally end with marginal losses in Nifty 50 index while broader markets remained firm. We expect the current consolidation to be followed with momentum up move in the coming days with major breakout expected above 22,550 with a potential target of 23,500.
Nifty Futures Chart
Stocks to watch
Positive Read through
- Vedanta – Expands alumina refining capacity to 3.5 MTPA, commissions 1.5 MTPA capacity.
- L&T Fin – Q4 retail disbursements up by 33.2 pct, AUM rose by 31 pct YoY.
- RBL Bank – Highest deposits growth in 12 quarters, up by 21.9 pct, advances rose 19.2 pct YoY.
- Poonawalla Fin – Q4 disbursements increased by 51.94 pct, AUM rose 53.6 pct YoY.
- Brigade Ent – JDA for office space in Bengaluru with development value of Rs. 3.40 bn.
- Voda Idea – To consider fund raise of up to Rs. 20.75 bn from promoter entities on April 6.
- Suryoday SFB – Q4 deposits surged by 50.5 pct, AUM rose 41.5 pct YoY.
- GE Power – Bag 2 contracts worth Rs. 7.75 bn from Jaiprakash Power Ventures.
- Avenue Supermarts – Standalone Q4 sales up by 20 pct YoY at Rs. 123.93 bn.
- Man Ind – Obtained CE certification for cold formed welded structural hollow sections of non-alloy & fine grain steels.
- Brigade Ent – Signs a joint development agreement for an office space in Whitefield, Bengaluru.
- Gufic Biosciences – Incorporates a wholly-owned subsidiary ‘Veira Life FZE’ in Dubai, UAE.
- Som Distilleries – Board approves stock split in the ratio of 5:2.
- Schneider Elec – Undertake capex of Rs 35 bn to expand capacity in India.
Negative Read through
- ONGC, Oil – Windfall tax on crude hiked to Rs. 6800/t.
- KEC – Falls short of Rs. 200 bn FY24 order inflow guidance, total FY24 orders at Rs. 181.02 bn.
- Angel One – Gross client acquisition slow down for 3rd month, down 16.8 pct MoM.
- Page Ind – Received Rs. 862 mn demand order from the Commissioner of Customs, Bangalore.
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