Markets ended lower despite RBI maintaining status quo on repo rate. However, major reaction from market was seen after RBI increased the inflation forecast which triggered renewed selling pressure in financials. FII have opened fresh shorts in future segment by massive Rs 6,200 crore and one can expect aggressive shorting after spread of Nifty 50-Nifty 500 index breaks the support line. The larger setup of Nifty indicates immediate target of 18,200 and we expect broad based selling to emerge on breach of 19400.
S&P Dollex 30 ( i.e. Sensex in USD terms)
Stocks to watch
Positive Read Through
- HCL Tech bags deal worth $2.1 Bn from Verizon
- HERO MOTO EBITDA rises by 28.2 pct, margin came at 13.8 pct vs 11.2 pct (YoY)
- SAIL posted Q1 results above estimates, realisations rise by 1 pct QoQ
- Endurance Tech’s sales up by 15.7 pct, profit rises by 58.2 pct YoY
- Medanta posted margin at 23 pct Vs 21.5 pct, EBITDA up by 34 pct (YoY)
- PFC, REC included in MSCI Global Standard Index as part of August review
- Ashok Leyland included in MSCI Global Standard Index as part of August review
- Cummins included in MSCI Global Standard Index as part of August review
- DFC First Bank, HDFC AMC included in MSCI Global Standard Index
- GMM PFAUDLER EBITDA up by 35.2 pct, margin came at 14.5 pct vs 13.2 pct (YoY)
- Somany Ceramics EBITDA rises by 11.2 pct, margin stood at 8.5 pct Vs 8.1 pct (YoY)
- NBCC EBITDA increased by 32.5 pct, margin came at 2.8 pct Vs 2.2 pct (YoY)
- Campus Active EBITDA up by 7.3 pct, Margin stood at 18.7 pct Vs 18.3 pct (YoY)
- Lemon Tree profit rises by 69.1 pct, revenue up by 15.8 pct YoY
Negative Read Through
- BIOCON posted Q1 results below estimates, margin came At 20.9 pct Vs 26.4 pct (QoQ)
- CONCOR EBITDA down by 17.3 pct, Margin came At 20.6 pct Vs 24 pct (YoY)
- LIC VNB down by 6.8 pct, total APE slips by 7.2 pct (YoY)
- Apollo Tyres Europe Business continues to be under pressure, sales up by 5 pct YoY
- ACC excluded from MSCI Global Standard Index as part of August review
- Mazagaon Dock’s EBITDA down by 1.2 pct, sales 2.6 pct YoY
- HONEYWELL EBITDA down by 1.4 pct, margin came at 12.9 pct Vs 15.5 pct (YoY)
- Indiabulls Real EBITDA, losses expand, sales up by 29.2 pct YoY
- TRANS & RECT EBITDA down by 80 pct, margin at 3 pct Vs 7.5 pct (YoY)
- Allcargo EBITDA down by 61.1 pct, margin stood At 4.2 pct Vs 6.5 pct (YoY)
- SEQUENT Reports Loss Vs Profit, sales slips by 2.4 pct (YoY)
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