Mkts ended unchanged after initial gap up move with action turning more sector specific with gains from PSUs and selling in technology index. 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 outlook for Sensex still remains optimistic with immediate target seen at 75,600, expect large cap to outperform in next leg of upmove
Results Today – Apollo Hospitals, BEML, Grasim, Greaves Cotton, LICI, Zomato,
Sensex 30 Chart
Stocks to watch
Positive Read Through
- Tata Cons – Q3 largely in line with estimates, EBITDA increased by 26 pct YoY
- BPCL – JV PLL renews 20-yr partnership for 7.5 MMTPA LNG with Qatar energy
- Power Grid – EBITDA increased by 3.2 pct, margin at 88.4 pct vs 87.9 pct YoY
- Lupin – Q3 above estimate, margin at 20 pct vs 12.3 pct YoY
- Cummins – Q3 beat estimates on all fronts, posts highest quarterly sales
- Manappuram – NIM at a 10-Qtr high, gold loan business share at 51.4 pct vs 58.4 pct YoY
- Apollo Tyres – EBITDA increased by 32.2 pct, margin at 18.3 pct vs 14.2 pct YoY
- Uno Minda – EBITDA increased by 12 pct, sales rises by 21 pct YoY
- Kalpataru Proj – EBITDA increased by 13.4 pct, sales rises by 22.3 pct YoY
- Ashoka Buildcon – Bags Rs. 5.20 bn work project from NHAI, EBITDA increased by 22 pct YoY
- Mankind – Promoter entity to sell 1.62 pct stake via block, floor price Rs. 2,050/sh
- GMR Power – Profit increased by 77.3 pct, margin at 26.8 pct vs 10.2 pct YoY
- SJVN – LoI for 200 MW solar project from Gujarat Urja Vikas Nigam
- Welspun Ent – Declared lowest bidder for a project worth Rs. 41.28 bn by BMC
- Inox Wind – Agreement with CESC to install 1,500 MW of wind capacity
- Religare Ent – Posted profit vs loss, sales increased by 30 pct YoY
Negative Read Through
- Fortis – Q3 hospitals business sales increased by 9.6 pct, margin flat YoY
- Sobha – EBITDA declined by 16.6 pct, sales slips 21.1 pct YoY
- JK Paper – EBITDA declined by 31.9 pct, margin at 25.1 pct vs 37.9 pct YoY
- Piramal Pharma – US FDA issues 3 observations, classifies Riverview, us unit as VAI
- Borosil Renewables – Posted loss vs profit, margin at 6.1 pct vs 7.6 pct YoY
- GNFC – EBITDA declined by 80.9 pct, margin at 4 pct vs 16.4 pct YoY
- S&W RE – customer terminates EPC contract in Australia, invokes bank guarantee of Rs. 900 mn
- Gujarat Fluoro – EBITDA declined by 60 pct, margin at 21 pct vs 37 pct YoY
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