Markets for the week remained under pressure after RBI emphasized about discontinuing the accommodative stance which forced Sensex to end lower by 0.6%. However, with Sensex holding firmly above 70,665, the potential for a further rally towards 75,600 remains on the cards. In macro terms, the Sensex to Gold ratio has seen a major breakout on a weekly basis which may lead to further concentrated buying in Sensex 30 in the coming week.
Results Today – Bharat Forge, HAL, Mazgaon Dock, Zee Media,
Sensex 30 Chart
Stocks to watch
Positive Read through
- Va Tech Wabag – Sales increased by 11.3 pct, and EBITDA rose by 7.6 pct.
- Hero Moto – EBITDA increased by 47 pct, margin at 13.9 pct vs 11.4 pct YoY.
- M&M – Embraer, Mahindra collaboration on C-390 transport aircraft.
- JSW Group – MoU with Odisha Government to set up EV unit, invest Rs. 400 bn.
- DRL – US FDA issues EIR, classifies FTO-03 unit as voluntary action indicated.
- PI Ind – EBITDA rose 33.4 pct, margin at 29.2 pct vs 25.7 pct YoY.
- Honasa Cons – Margin at 7 pct vs 3.1 pct, sales grew 27.8 pct YoY.
- Aurobindo – Margin at 21.8 pct vs 14.9 pct, US sales at a record high of USD 451 mn.
- Stove Kraft – EBITDA rose by 18.5 pct, margin at 8.3 pct vs 7.8 pct YoY.
- Paytm – Sets up a committee to strengthen compliance & regulatory matters.
- IRM Energy – EBITDA grew by 14.4 pct, margin at 17.4 pct vs 13.3 pct YoY.
- Easy Trip – To open a 5-star hotel in Ayodhya, an investment up to Rs. 1 bn.
- Advance Enzyme – EBITDA increased by 29.3 pct, Margin at 33.4 pct Vs 29.3 pct YoY.
- Vedanta – Vedanta Resources announces it has completed repayments to bondholders.
- Jindal Stainless – Company and MSME Tech Centre to make value-added products for defense, and aerospace.
Negative Read through
- Tata Power – Posted Q3 largely below estimates, margin flat YoY.
- Bandhan Bank – Slippages rose QoQ at Rs. 13.90 bn, Q3 below estimates.
- Divi’s Labs – Q3 below estimates, margin at 26.4 pct vs 23.9 pct YoY.
- MCX – Q3 below estimates, posted loss vs profit YoY.
- SJVN – EBITDA declined by 3.2 pct, margin at 67.8 pct vs 69 pct YoY.
- Campus Active – EBITDA declined by 38.7 pct, margin at 11.9 pct vs 19.7 pct YoY.
- Mishra Dhatu – EBITDA declined by 45.4 pct, margin at 14.3 pct vs 28.4 pct YoY.
- Bajaj Health – Posted loss vs profit YoY, Rupesh Nikam resigns as CFO.
- Max Estates – Posted loss vs profit, sales declined by 17.4 pct YoY.
- Cello World – Profit declined by 65.1 pct, sales declined by 64.6 pct YoY.
- Shree Renuka – EBITDA declined by 7.4 pct, margin at 6.4 pct vs 8.1 pct YoY.
- Landmark Cars – Profit declined by 28.7 pct, margin at 6.8 pct vs 7.4 pct YoY.
- GMDC – Profit declined by 56.1 pct, sales down by 34 pct YoY.
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