Markets activity remained range bound with Nifty opening higher and ending with marginal losses while midcap and the small-cap index ended in the green. Nifty is currently trading in a major breakout zone and hence has been sustaining above 50 DMA and 200 DMA convincingly. The lower reading in India VIX suggests a big upswing is likely in the coming days with a potential upside beyond 18000 in the coming week.
Dollex 30 ie Sensex in USD
Stocks to watch
Positive Read through
- Dreamfolks, GMR Airports In Focus- India air passengers hit record 1.3cr in March.
- Zydus Life receives final USFDA approval for Estradiol transdermal system.
- Piramal Pharma- USFDA issues EIR for Sellersville manufacturing facility.
- Reliance- Govt reduces special additional excise duty on diesel to Nil.
- Eclerx- appoints Kapil Jain as CEO of the UK subsidiary from May 1, 2023.
- Bank of India- Board approves fundraising of up to Rs 6500 cr for FY24.
- Som Distilleries- begins commercial production at enhanced capacity in Karnataka.
Negative Read through
- ONGC – Govt increased windfall tax on crude to Rs 6400 per ton from Nil.
- ICICI Lombard- Q4 combined ratio at 104.2 pct, net earned premium below estimates.
- Tata Coffee- Q4 EBITDA down 4.8 pct, margin slips more than 200 bps.
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