Markets cooled from day’s high in the last hour of trade to finally settle with marginal gains above 24,300. With sustained rally in the past few days, the short-term oscillators are in overbought condition and correction back towards 24,000 is not ruled out in the coming days. Overall outlook for market may turned bearish if USDJPY see a breach below 160 mark.
Nifty 50 Chart
Stocks to watch
Positive Read through
- RBL Bank – Q1 deposits grew 18.35 pct, advances rose 18.3 pct YoY.
- Poonawalla Fin – Q1 AUM jumped 52 pct YoY & 7.9 pct QoQ, disbursements up 4.8 pct YoY.
- RVNL – MoU with Delhi Metro for upcoming projects in India & overseas.
- PNB – Q1 deposits rose 2.8 pct, advances grew 5.1 pct QoQ.
- IDBI Bank – Q1 net advances jumped 17 pct, total deposits rose 13 pct YoY.
- UCO b=Bank – Advances up 3.74 pct QoQ, credit-deposit ratio at 72.4 pct vs 65.6 pct YoY.
- Ahluwalia Contracts – Bags order worth Rs. 5.72 bn from Airports Authority of India.
- Mahindra Life – Bags Mumbai redevelopment project, GDV Rs. 18 bn, acquires land in Bengaluru.
- Ircon – JV Bags Rs. 7.50 bn order from RVNL, Company’s share at 60 pct.
- Kalyan Jewellers – Consolidates sales growth at approx 27 pct, India operations same store sales growth up 12 pct YoY.
Negative Read through
- HDFC Bank – Deposits fell 0.03 pct, CASA ratio at 36.3 pct vs 38.2 pct QoQ.
- Ujjivan SFB – GNPA ratio at 2.3 pct vs 2.1 pct, Disbursals down 20.6 pct QoQ.
- ESAF SFB – Q1 GNPA up 39.1 pct QoQ, GNPA jumped by 5.23x in last 4 quarters.
- Lloyds Metals – Launches QIP, Issue price at 10.2 pct discount to CMP.
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