Markets on Monday ended with gains of around 1 pct to help Nifty close above 19,400 with rally mainly backed by commodity related stocks while Bank Nifty exhibited signs of indecisiveness of doji star for the third consecutive trading session. At the current juncture, the Dollex 30 i.e., Sensex in USD terms has moved closer to test its 100 EMA and a re-tested the resistance of triangle which is placed 0.4 pct away from the current levels. The implication of triangle pattern emphasis that prices has approached crux of a big Tug of War and a decisive move on either side is not ruled out. However, the most likely outcome is expected on the lower side being a descending triangle. In Nifty terms, the derived resistance levels in spot is seen at 19,490 which ideally should be violated on closing basis for markets to garner strength in the near-term. On the downside, 19,030 is the key levels below which free fall is expected towards 17,000.
Result Today – Apollo Tyres, Cochin Shipyard, IRCTC, Power Grid, Trent, Zydus Lifesciences.
Dollex 30 in USD terms chart
Stocks to watch
Positive Read through
- Bajaj Fin – Launches QIP, to raise up Rs. 88,000 mn via QIP.
- HPCL – Q2 largely above estimates, GRMS above estimates at USD 13.3/bbl.
- Emami – EBITDA increased by 19.4 pct, margin came at 27 pct Vs 24 pct YoY.
- Nykaa – EBITDA increased by 32 pct, Beauty & personal care sales increased by 19 pct.
- Gland Pharma – Sales increased by 32 pct, Margin higher than estimate At 23.6 pct.
- RR Kabel – EBITDA increased by 88 pct, Margin came at 7.5 pct vs 4.7 pct YoY.
- Paras Defence – EBITDA increased by 9.8 pct, Margin Flat 25.3 pct YoY.
- Radico KHAITAN – EBITDA increased by 34.6 pct, Margin stood at 13.1 pct vs 11.8 pct YoY.
- Dalmia Sugar – Margin increased by 770 bps, Sales increased by 26.4 pct YoY.
- Indo Count – EBITDA increased by 43.6 pct, Margin at 16.3 pct vs 13.6 pct YoY.
- PG Electro – Profit up 72.2 pct, Sales increased by 37.2 pct YoY.
- GSPL – EBITDA up 25 pct, Margin At 21.4 pct Vs 17.8 pct (QoQ).
- HDFC Life – October Insurance premium up 40 percent YoY.
Negative Read through
- NHPC – EBITDA declined by 19.7 pct, Margin stood at 60 pct Vs 66 pct YoY.
- V-Mart – Q2 Same-store-sales growth down 4 pct, EBITDA declined by 98.5 pct YoY.
- VRL Logistics – EBITDA declined by 1.3 pct, Margin stood at 12.9 pct Vs 14.2 pct YoY.
- Man Infra – EBITDA declined by 31 pct, Margin stood at 30.2 pct Vs 23.4 pct YoY.
- Sobha – EBITDA declined by 20.5 pct, Margin stood at 10.2 pct Vs 14.2 pct YoY.
- Greenply Ind – Margin stood at 8.4 pct Vs 9.9 pct, Profit declined by 41.1 pct YoY.
- Redington – EBITDA declined by 9.6 pct, Margin slips 60 bps YoY.
- India Pesticides – Profit declined by 47.6 pct, Sales declined by 19.4 pct YoY.
- TVS Supply Chain – Sales declined by 15.6 pct, Posted loss Vs profit YoY.
- Liberty Shoes – Profit came at Rs 26 mn vs Rs 59 mn, Sales at Rs 1720 mn vs Rs 1690 mn .
- SPARC – Loss of Rs 864 mn vs Rs 680 mn, sales declined at Rs 210 mn vs Rs 310 mn.
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