Market bounced back sharply in last hour of trade with market breadth turning positive. Action was seen in broader markets especially the capital good space with stocks rallying across the board. We expect positive momentum to accelerate further towards 22,600 in the next few trading session. At present, Nifty 50 is showing signs of double retracement which could be an indication of major accumulation for a potential upside towards 23,500. With Monday being a market holiday on account of polling, markets will witness high volatility in today’s session.
Result Today – JSW Steel, ZEE Ent
Nifty 50 Chart
Stocks to watch
Positive Read through
- Vedanta – Approves Rs. 11/share interim dividend & to raise up to Rs. 85 bn.
- Biocon – Biosimilar business sales up 12 pct, margin, EBIDTA above estimates.
- Concor – Volumes jumps 11.2 pct, margin at 21.4 pct vs 20.5 pct YoY.
- Crompton – Q4 in-line with estimates, sales increased by 9 pct YoY.
- Voda Idea – Margin flat QoQ, capex seen at Rs. 50-55 bn over 3 years.
- Kaynes Tech – EBIDTA inches up 61 pct, sales rose 75 pct YoY.
- Endurance Tech – Margin up 170 bps YoY, order outlook healthy.
- Allcargo Gati – Losses contract, margin at 3.4 pct vs 2.7 pct YoY.
- Triveni Turbine – EBIDTA up 35.3 pct, margin at 19.6 pct vs 18 pct YoY.
- IIFL Securities – Sales increased by 68.2 pct, margin at 39.3 pct vs 26.9 pct YoY.
- Tech Mahindra -Collaborate with IBM to accelerate the adoption of GenAI..
- Dixon Tech – Signs MOU with Acerpure for manufacturing of consumer appliance products.
- Garden Reach Shipbuilders – Company gets USD 16.5 mn order from Bangladesh.
- Infosys – Company in pact with Telstra for AI-led engineering transformation.
- Crompton Greaves – Profit at Rs. 1.38 bn vs Rs 1.31 bn, Sales at Rs 19.61 bn vs Rs 17.91 bn YoY.
Negative Read through
- PB Fintech – DIRS to sell up to 1.86 pct via blocks, as per reports.
- Prince Pipes – EBIDTA down 42 pct, margin declines 510 bps YoY.
- Akzo Nobel – margin at 16.6 pct vs 16.3 pct YoY, sales grew 2.3 pct YoY.
- Ratnamani Metals – EBIDTA down 18.3 pct, margin at 16.4 pct vs 20 pct YoY.
- KIMS – Margin at 25.1 pct vs 28.3 pct, EBIDTA declined 2.6 pct YoY.
- JK Paper – EBIDTA down 26 pct, margin at 20.8 pct vs 28.1 pct YoY.
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