Markets cooled off from day’s high to end on a flat note yesterday after Nifty failed to clear the psychological mark of 25,000 with India VIX ending with gains of more than 3%. We expect market to remain under pressure on back of hanging man pattern appearing in the previous week and expect Nifty to trigger major breakdown on close below 24,700.
Results Today – Dixon, IOC, Tata Consumer, Titagarh
Nifty 50 Chart
Stocks to watch
Positive Read through
- ACC – Posted Q1 in-line with estimates, sales volumes at 10.2 MT vs estimate of 9.7 MT HPCL – Reported Q1 below estimates, profit fell 87.5 pct, margin shrank 230 bps QoQ.
- Colgate – Reported Q1 above estimates, high-single digit volume growth in toothpaste business Kalpataru Proj – Margin at 8.2 pct vs 9 pct, profit tumbled 19.1 pct YoY.
- Jindal Saw – Margin expanded 320 bps, profit grew 70 pct YoY Mah Seamless – EBITDA fell 49 pct, margin at 11 pct vs 20 pct YoY.
- Sonata Soft – Partners with Applied Sys for platform engineering & enterprise modernisation PNB Housing Fin – Carlyle Group to sell up to 6.4 pct stake via block, floor price Rs. 755/sh.
- Rites – Signs MoU with NHAI to deliver consultancy services for NHAI projects Quess Corp – EBITDA down 5.8 pct, margin at 3.7 pct vs 4 pct QoQ.
- RVNL – Declared lowest bidder for a project worth Rs. 7.40 bn Ideaforge – EBITDA down 88 pct, margin at 4 pct vs 29 pct YoY.
- Sona BLW – Gets nod for 2 more products under LI from Heavy Industry Ministry Balmer Lawrie – margin at 10 pct vs 11 pct, EBITDA down 2 pct YoY.
- Data Patterns – EBITDA inches up 34 pct, margin at 35.7 pct vs 31 pct YoY Wonderla – Sales came at Rs 1.73 bn vs Rs 1.85 bn, profit at Rs 632 mn vs Rs 845 mn.
- KEI Ind – EBITDA jumped 22 pct, margin at 10.4 pct vs 9.9 pct YoY.
- Defence Companie – DAC clears capital acquisition proposals to enhance capabilities of Indian Army and Coast Guard.
- Coal India – Coal output seen growing by 6-7 pct annually in next few years, says Ministry of Coal.
- ITD Cem – Gets order worth Rs. 12.37 bn for constructing residential colony in New Delhi.
- VBL – Board Meeting On today to Consider the Proposal of Stock split of shares.
- BEL – Defense Acquisition Council approves procuring defense series maps.
- Bharti Airtel – Ready to launch standalone technology after re-farming existing spectrum for 4G services.
Negative Read through
- HPCL – Reported Q1 below estimates, profit fell 87.5 pct, margin shrank 230 bps QoQ.
- Kalpataru Proj – Margin at 8.2 pct vs 9 pct, profit tumbled 19.1 pct YoY.
- Mah Seamless – EBITDA fell 49 pct, margin at 11 pct vs 20 pct YoY.
- PNB Housing Fin – Carlyle Group to sell up to 6.4 pct stake via block, floor price Rs. 755/sh.
- Quess Corp – EBITDA down 5.8 pct, margin at 3.7 pct vs 4 pct QoQ.
- Ideaforge – EBITDA down 88 pct, margin at 4 pct vs 29 pct YoY.
- Balmer Lawrie – margin at 10 pct vs 11 pct, EBITDA down 2 pct YoY.
- Wonderla – Sales came at Rs 1.73 bn vs Rs 1.85 bn, profit at Rs 632 mn vs Rs 845 mn.
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