Markets cooled from highs to close with losses of 0.4% after news emerged about a slump in Chinese markets while the Pharma Index managed to end with gains of around 2%. From a trading perspective, Sensex remains with a positive bias as long it holds firmly above 70,665 with an immediate target seen at 75,600. With the recent depreciation in the Japanese Yen and Brent Crude trading below USD 80 a bbl, we expect both these indicators to provide necessary positive triggers for Indian markets and have the potential to fuel a rally of 8-9% in large-cap stocks.
Results Today – Britannia, Lemon Tree, Navin Fluorine
Sensex 30 Chart
Stocks To Watch
Positive Read through
- Bharti Airtel – Posted Q3 in-line, ARPU rises nearly 2.5 pct QoQ.
- LIC – The Board meets on Feb 8 to consider interim dividend.
- Shree Cement- No demand of tax deposition in Jan tax notice.
- Ashok Leyland – EBITDA increased by 39.7 pct, margin at 12.8 pct vs 8.8 pct YoY.
- Zydus life – Board to consider share buyback on February 9.
- Sundaram fin – Disbursements increased by 17.5 pct, AUM rises 25.7 pct YoY.
- Jio fin – Denies reports of being in talks to acquire Paytm’s Wallet business.
- Bajaj Cons – EBITDA increased by 10.5 pct, margin at 15 pct vs 14.2 pct YoY.
- BSE – Transaction charges increased by 68 pct, sales rise 18 pct QoQ.
- Adani total – Signs agreement with Inox CVA for the LNG ecosystem in India.
- Triveni turbine – EBITDA increased by 31.4 pct, sales rise by 32.5 pct YoY.
- IEX – Total January volumes up by 26.1 pct YoY at 10,893 MU.
- Waaree – Received LOA for the execution of EPC work for a Solar power plant of 412 MWp /335 MWac.
- JSW Infrastructure – The Company has earmarked about Rs. 60 bn for acquiring strategic assets.
- TVS Supply – Integrated supply chain business sales up by 15 pct, to merge 5 subsidiaries with itself.
Negative Read through
- Tata Chem – EBITDA declined by 41.2 pct, margin at 14.5 pct vs 22.2 pct YoY.
- Suven Pharma – Sales declined by 38 pct, with a margin of 29.7 pct vs 41.5 pct YoY.
- Fusion MF – Asset quality deteriorates, credit cost guidance raised.
- Paradeep – EBITDA declined by 24 pct, sales dropped nearly 40 pct YoY.
- Butterfly – EBITDA declined by 89.4 pct, margin at 1 pct vs 8.7 pct YoY.
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