Markets for the month of April ended with gains of more than 4% mainly on the backdrop of sharp rebounds from low-volatility stocks, with FMCG leading from the front. A monthly close above 18050 levels in Nifty has opened gates for quick reflexes towards 19000 in the coming days as the significant short covering is expected after prices surpassed Friday’s high. The lower reading in India VIX below the 11 mark has contributed towards further bullishness with near term target of Nifty seen at 19786.
Nifty 50 Index
Stocks to watch
Positive Read through
- Ultratech Net profit at Rs 1,670.1 cr Vs expected of Rs 1,755 cr, Margin at 17.8 pct Vs 19.5 pct YoY.
- Oil upstream stocks- WindfallTax on Crude Petroleum was decreased to Rs 4,100 a tonne from Rs 6,400 a tonne.
- RVNL: Company -SCC JV emerges as the lowest bidder (L1) for a project worth Rs 2,248.95 cr
- Aviation Stocks: ATF price cut to Rs 95,935.34/kL from Rs 98,349.95/kL in Delhi.
- NTPC: Company and NPCIL sign Agreement for joint development of nuclear power plants
- Biocon: Biologics’ new Multi-Product, Monoclonal Antibodies Facility receives EU GMP certification for bevacizumab
- Ahluwalia Contracts secures an order of Rs 2,450 cr from the Rail Land Development Authority
- GAIL: SC dismisses Special Leave Petitions (SLP) filed by Gujarat Sales Tax Department against the company
- Bharti Airtel launches new partnership with Bridgepointe Technologies under Global Channel Partners Programme
- TVS Motors: The company registers 4% YoY sales growth to 3.06 lk units versus 2.99 lk units
- SML Isuzu: Total sales are up 38% at 1,437 units vs 1,044 units (YoY)
- PSP Projects gets work orders worth Rs 441.25 crore in government and institutional segment
- Eicher Motors- Total sales up 18% at 73,136 units vs 62,155 units (YoY) Est 70078 units
Negative Read through
- Maruti- Total sales up 6.5 pct at 1.60 lakh units vs 1.50 lakh units YoY Est 1.72 lakh units.
- Tata Motors- Total sales declined 4 pct at 69,599 units vs 72,468 units YoY Est 74508 units.
- MOIL decreases the price of some grades of Manganese Ferro by 5 pct.
- Hero MotoCorp- Total sales down 5.3 pct at 3.96 lakh units vs 4.18 lakh units.
- Escorts: April Sales were seen at 7565 units versus expectations of 7954 units
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or any of its communication cannot be held responsible for it.
