Markets succumbed to selling pressure on Monday after Sensex failed to cross the resistance of rising channel and followed with closing almost 1% lower with major selling seen in Nifty Bank. At present, markets are trading at a crucial juncture and prone to major downside risk in the coming days. With JPYINR already positioned to rise by 11%, we can expect major pressure on Financials and Technology stocks. On the downside, crucial trend reversal would be confirmed on close below 71,000 in Sensex.
Result Today – Delta Corp
Sensex 30 Chart
Stocks to watch
Positive Read through
- Bajaj Auto – Announces Rs. 40 bn share buyback at Rs. 10,000/sh, 43 pct premium to cmp.
- Τata Motors – JLR delivers highest wholesales in 11 quarters during Q3, up 27 pct YoY.
- Adani Ent – Tribunal orders refund of monthly annual fee for covid period to Mumbai Airport.
- Eicher Motors – Royal Enfield signs MoU to invest Rs. 30 bn in Tamil Nadu.
- Cipla – JV in US with Kemwell Bio & Manipal Education for cell therapy pdts.
- Bandhan bank – As per report, no forensic audit by RBI regulator, audit will be by CGFMU.
- Metropolis Health – Q3 core business sales up 12 pct, volume growth came at 9 pct YoY.
- Aurobindo – US FDA classifies Telangana unit as ‘voluntary action indicated’.
- IRB Infra – December toll collection up by 26 pct at Rs. 4.88 bn vs Rs. 3.88 bn YoY.
- Fino Payments – RBI received application seeking Small Finance Bank licence.
- BEML – Gets orders from Ministry of Defence for worth of Rs. 3,298 mn.
- GMDC – Company’s Surkha mine gets Environmental Clearance for capacity expansion.
- Bajaj Finser – BAGIC gross direct premium underwritten at Rs 14.25 bn in December.
- Bharat Forge – Baba Kalyani says company revenue will hit Rs. 200 bn in 2 years.
- CESC – Arm successful bidder to set up 10,500 Tonnes/year of green hydrogen unit.
- Lemon Tree – The hotel chain signed a new hotel in Meerut, Uttar Pradesh.
Negative Read through
- ONGC, Oil – Crude sees a fall of 4 pct overnight on price cut by Saudi Arabia.
- Zee Ent – According to reports, Sony is said to plan calling off USD 10 bn Zee merger.
- Capacite Infra – To raise up to Rs. 2 bn via QIP, issue price at Rs. 251.65/share.
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