Markets on Monday gave away its Mahurat trading session gains ahead of crucial inflation data in the U.S. after failing to cross the 50 DMA in Sensex. The inflation data came out yesterday which was lower than expectation and faded chances of further rate hikes in the near-term which propped the U.S. markets by more than 1%. For Indian markets, 50 DMA in Sensex which is placed at 65,637 turns out to be important benchmark for setting up strength in markets. In fact, at present after the recent up move, there is an emergence of pennant formation occurring nearing 50-DMA which may activate breakdown below 64,950.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Tata Motors – Tata Technologies IPO sets to opens for subscription on November 22.
- Asian Paints – Production capacity of Khandala plant increased by 1 Lk kL/Yr.
- Kalyan Jewellers – EBITDA risese by 17.9 pct, sales up by 27.1 pct YoY.
- Manappuram – AUM increased by 27 pct YoY, Calculated NIM at 15.07 pct vs 14.86 pct QoQ.
- Biocon – UK regulator nod for Optho Drug Afilbercept.
- Narayana – Margin came at 23.6 pct Vs 21 pct, Profit increased by 34 pct (YoY).
- Natco – Q2 in-line with estimates, Margin came at 44.4 pct Vs 13 pct YoY.
- PTC Ind – Contract with Safran to provide casting parts.
- RVNL – LOA for project worth USD 3,110 mn from Central Railway.
- DCM Shriram – Board approves restructuring of Operations.
- Wockhardt – Margin came at 10 pct Vs 6 pct, Losses contract YoY.
- CEAT – Maharashtra Pollution Control Board allows restarting Bhandup plant.
- Trident – EBITDA rises by 70 pct, Margin came at 13.4 pct Vs 9.8 pct YoY.
- PVRINOX – Tiger3 hits Rs. 1,000 mn collections in 2 Days.
- Mining stocks – Mines Ministry is in the process of auctioning 20 critical mineral blocks.
Negative Read through
- Grasim – Q2 standalone EBITDA below estimates, Net debt up Q0Q.
- NMDC – Margin came at 29.7 pct Vs 37 pct, realisations decline QoQ.
- Dabur – Mohit & Gaurav Burman named in betting app FIR, Co yet to get the FIR copy.
- Yatra Online – Posted EBITDA loss Vs profit, Loss expands YoY.
- Aster DM – Margin came att 11.4 pct vs 12.1 pct, Loss Vs Profit QoQ.
- Capacite Infra – EBITDA declined by 23 pct, Margin came at 14.8 pct Vs 18.9 pct YoY.
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