Markets witnessed a decline on the back of RBI withdrawing accommodative stance in monetary policy with Bank nifty declining over 2% forcing Nifty to end lower by 1%. After yesterday’s decline, Sensex has moved closer to 50 DMA and is expected to rebound from the support zone to resume its upmove in the near term. Meanwhile, the depreciating Japanese Yen may positively impact Indian markets with upside potential for Sensex seen at 75,600 in the coming weeks.
Results Today – EasyMyTrip, Hero Moto, MRF, PI Industries, Tata Power, Va Tech Wabag.
Sensex 30 Chart
Stocks to watch
Positive Read through
- BHEL – Gets Rs. 55,000 mn order from Haryana Power Generation.
- IRCTC – Signs MoU with Uttarakhand Government to operate tourist trains to Uttarakhand.
- IREDA – Gets RBI nod to set up a subsidiary in Gift City.
- LIC – Profit rises 49 pct to Rs.94.44 bn, net premium income grew 4.67 pct.
- Apollo hospitals – Sales grew 13.77 pct, EBITDA and profit increased by 27 pct and 56 pct.
- Bharti/RIL – 10,523 MHz spectrum auction gets cabinet nod.
- United Breweries – EBITDA increased by 89.5 pct, margin at 8 pct vs 4.8 pct YoY.
- Aarti Ind – EBITDA increased by 15 pct, sales rises by 20 pct QoQ.
- JK Lakshmi – EBITDA/tonne at Rs. 1,027 vs Rs. 690, EBITDA increased by 51 pct YoY.
- Global Health – EBITDA increased by 32.6 pct, margin at 25 pct vs 23 pct YoY.
- Rail Stocks – 6 multi-tracking railway projects w/outlay of Rs. 123.43 bn get cabinet nod.
- Suryoday SFB – AUM increased by 40.5 pct, NIM at 9.8 pct vs 9.2 pct YoY.
- Aster Dm – EBITDA increased by 25.7 pct, margin at 15.2 pct vs 14.1 pct YoY.
- Grasim – EBITDA increased by 9.6 pct, margin at 8.2 pct vs 7.7 pct YoY.
- Honeywell – EBITDA increased by 23.2 pct, margin at 15 pct vs 12.8 pct YoY.
Negative Read through
- Torrent Power – Profit declined by 46.1 pct at Rs 3.74 bn, sales down by 21.1 pct YoY.
- DCX System – Sales and profit declined to Rs 1980 mn and Rs. 119 mn YoY.
- Biocon – CFO Indranil Sen resigns, generics business declined by 7 pct YoY.
- Ramco Cements – Q3 below estimates, announces capex of Rs. 12.50 bn.
- RVNL – EBITDA declined by 9.6 pct, revenue declined by 6.4 pct YoY.
- Torrent Power – EBITDA declined by 27.7 pct, margin at 16.4 pct vs 22.4 pct YoY.
- AstraZeneca – EBITDA declined by 56 pct, margin at 5.2 pct vs 14.4 pct YoY.
- Hikal – Profit declined by 39 pct, sales dropped by 18.6 pct YoY.
- Bombay Dyeing – Sales declined by 43 pct, EBITDA loss vs EBITDA YoY.
- SKF India – EBITDA declined by 6.3 pct, margin at 15.8 pct vs 17.1 pct YoY.
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