Markets gapped higher on Friday and managed to end with 0.6% gains despite Nifty Bank ending in the negative terrain. The breakout levels for Sensex have been holding firmly at 70,665 and should act as a key reversal for current up move. The immediate upside potential seen at 73,427 which is its recent high and we expect market to trade with positive bias as long India VIX firmly trades below 14.5.
Results Today – ICICI Bank, J&K Bank, Kotak Bank, Persistent, IDFC First Bank, Union Bank
Sensex 30 Chart
Stocks to watch
Positive read Through
- Reliance Ind – Growth across operating business, margins increased by 40 bps QoQ
- Tata Steel – To restructure UK business, up to 2800 employees will be impacted
- CESC – Sales increased by 2 pcy, generation up by 29 pct at 1535 mn units
- Paytm – EBITDA improvement continues, loans decline QoQ
- KPI Green – Arms gets order to execute solar power project of 5,600 MW
- HFCL – Purchase order of Rs. 6.23 bn from a domestic telecom service provider
- EaseMyTrip – Partnered with CSC under MeitY to offer travel services to its users.
- Power Stocks – Peak power demand in India likely to cross 400 GW by 2030
- Aether Ind – Collaborates with Novoloop for setting up pilot plant in Hojiwala industrial estate
- Rico Auto – Signs licensing agreement for transfer of technology with DRDO
Negative Read through
- HUL – Q3 results below expectations, sales and EBITDA remains flat YoY.
- RBL Bank – Slippage up by 23 pct, NIM at 5.52 pct against 5.54 pct QoQ
- Tejas Network – Loses widens as company executes large projects, sales up by 104 pct YoY
- Sunteck Reality – Sales declined by 52 pct, posted EBITDA loss of Rs. 160 mn
- Fortis – Agilus gets notice from Anticorruption branch, Delhi in Mohalla Clinic case
- Credit Access – Gros GNPA up by 33 pct QoQ, NII increased by 48.5 pct YoY.
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