Markets ended with gains after recouping Monday’s losses and formed inside bar setup on candlesticks. The inside bar with bullish candle indicates volatility to expand with positive bias in market and Sensex could be placed to test 75,600 in the coming days. Adding to it, bullish crossover can be witnessed in MACD which may act as a trigger for fueling momentum in the short term. The previous bullish crossover in MACD had been followed with 8-10 days continuous gains in markets. On the downside, 70,665 should be seen as a stoploss for long positions.
Results Today – Apollo Tyre, Cummins, Lupin, Nestle, Tata consumer, Trent, DreamFolks.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Britannia – Posted Q3 largely in line with estimates, volume growth above estimates at 5.5 pct.
- Berger Paints – EBITDA increased by 36 pct, gross margin at 41.1 pct vs 34.7 pct YoY.
- Biocon – Tentative US FDA nod for Leukemia drug Dasatinib.
- Lupin – Got US FDA approval for Bromfenac Ophthalmic Solution.
- Max Fin – VNB, margin miss estimates, IRDAI approves Axis Bank-Max Life deal.
- Radico – EBITDA increased by 47.4 pct, margin at 12.3 pct vs 12.2 pct YoY.
- Nazara Tech – EBITDA increased by 23.6 pct, margin at 11.8 pct vs 9.7 pct YoY.
- Endurance tech – EBITDA increased by 24.8, net profit rises 40.7 pct YoY.
- Nykaa – EBITDA increased by 26.3 pct, profit at Rs. 174 mn vs Rs. 85 mn YoY.
- Brigade Ent – EBITDA increased by 26 pct, sales rises 31 pct YoY.
- Eveready – EBITDA increased by 2.9 pct, margin at 8.1 pct vs 7.3 pct YoY.
- V-mart – Profit increased by 42.4 pct, sales rises 14.4 pct YoY.
- JB Chemicals – EBITDA increased by 27.6 pct, margin at 26.4 pct vs 22.1 pct YoY.
- Quess corp – To sell arm Qdigi Services to Onsitego for Rs. 800 mn.
- IOL chem – EBITDA increased by 2.8 pct, margin at 8.4 pct vs 8.2 pct YoY.
- Ace – EBITDA increased by 66 pct, margin at 13.6 pct vs 11.1 pct YoY.
Negative Read through
- Navin Fluorine – Margin at 15.1 pct vs poll of 22.3 pct, EBITDA declined by 51.3 pct YoY.
- Lemon Tree – Profit declined by 10 pct, margin at 48.4 pct vs 54.2 pct YoY.
- EID Parry – EBITDA declined by 53.8 pct, margin at 5.4 pct vs 9.2 pct YoY.
- NLC India – EBITDA declined by 33.5 pct, margin at 28.6 pct vs 37 pct YoY.
- Redington – EBITDA declined by 11 pct, margin at 2.2 pct vs 2.7 pct YoY.
- Sheela Foam – Margin at 8.7 pct vs 10 pct, Profit declined by 49 pct YoY.
- P&G Health – Profit declined by 6.1 pct, sales flat at Rs. 3,100 mn YoY.
- Timken India – EBITDA declined by 1.2 pct, margin at 16.7 pct vs 17 pct YoY.
- UPL – Moody’s downgrades UPL to Ba1; outlook remains negative.
- Syrma SGS – Profit at Rs 200 mn vs Rs 340 mn, sales at Rs 7,070 mn vs Rs 5,130 mn YoY.
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