Markets gained more than percent on Wednesday on back of positive global cues with Bank of Japan assuring of not raising rates during market turbulence. Nifty formed a small inside bar with doji with failing to cross above Tuesday’s day. On the broader market front, the data has not been encouraging with Nifty Total Market Index confirming a breakaway gap and forming an upthrust within broadening top. This implicates complete reversal, and rebounds are likely to remain unsustainable as long the breakaway gap prevails. The downside implication is seen at 13 pct in near term and in Nifty terms, we expect follow-up selling to activate below 24,182.
Results Today – ABB, AWHCL, Bharat Forge, Dreamfolks, GRSE, Va Tech Wabag, Cochin Shipyard
Nifty 50 Chart
Stocks to watch
Positive Read through
- Marico – Operating conditions in Bangladesh gradually improving Hindalco – Q1 in-line, flooding cost may weigh on Q2FY25, debt rises QoQ.
- Adani Ent – Incorporates step down subsidiary, global airports operator in Abu Dhabi Godrej Cons – Q1 headline numbers a mild miss, internals mixed.
- Gujarat Pipavav – Sales increases 30 pct, margin up 50 bps at 9.3 pct YoY Apollo Tyres – EBITDA fell 13.5 pct, margin at 14.4 pct vs 16.8 pct YoY.
- ITD Cementation – EBITDA grew 37.1 pct, margin at 9.3 pct vs 8.8 pct YoY NHPC – Posted muted Q1FY25, margin flat at 54.4 pct YoY.
- Radico Khaitan – EBITDA up 25 pct, margin rose 60 bps YoY GMM Pfaudler – EBITDA tumbled 32 pct, margin at 11.3 pct vs 14.3 pct YoY.
- Abbott – Sales increased 5 pct, margin expanded 100 bps YoY Balaji Amines – EBITDA dropped 31.5 pct, margin at 17.3 pct vs 20.9 pct YoY.
- KIMS – Sales grew 14 pct, margin maintained above 26 pct TVS Srichakra – Profit slipped 68 pct, margin drops 170 bps YoY.
- Sula Vineyards – Sales jumped 12 pct, margin flat at 28 pct YoY Gokaldas Export – Margin at 8.7 pct vs 13.1 pct, profit declines 16 pct YoY.
- Signature Global – Pre-sales jumped 255 pct, collections rose 102 pct YoY Protean – Standard Chartered Bank likely to sell 3.1 pct equity via block, at Rs. 1,750-1,775/share.
- BSE – Sales rose 24.4 pct, margin at record high of 46.73 pct vs 19.67 pct QoQ GTL Infra – Gets show cause notice from GST department for tax, penalty demand of Rs. 8.94 bn.
- Welspun Corp – EBITDA up 1.4 pct, margin at 11.9 pct vs 9 pct YoY UPL – Rating agency downgrades to Ba2, places ratings under review for further downgrade.
- Godfrey Phil – EBITDA up 5.1 pct, Sales rose 12 pct YoY.
- Lemon Tree – EBITDA up 8.1 pct, sales grew 19.5 pct YoY.
- Phoenix Mills – Arm acquires land parcel in Coimbatore, Tamil Nadu for Rs. 3.70 bn.
- MTAR Tech – Company gets order worth of ~Rs. 1.40 bn.
- Kirlsokar Oil – highest-ever Q1 sales, margin at a multi-quarter high of 14.7 pct.
Negative Read through
- Hindalco – Q1 in-line, flooding cost may weigh on Q2FY25, debt rises QoQ.
- Godrej Cons – Q1 headline numbers a mild miss, internals mixed.
- Apollo Tyres – EBITDA fell 13.5 pct, margin at 14.4 pct vs 16.8 pct YoY.
- NHPC – Posted muted Q1FY25, margin flat at 54.4 pct YoY.
- GMM Pfaudler – EBITDA tumbled 32 pct, margin at 11.3 pct vs 14.3 pct YoY.
- Balaji Amines – EBITDA dropped 31.5 pct, margin at 17.3 pct vs 20.9 pct YoY.
- TVS Srichakra – Profit slipped 68 pct, margin drops 170 bps YoY.
- Gokaldas Export – Margin at 8.7 pct vs 13.1 pct, profit declines 16 pct YoY.
- Protean – Standard Chartered Bank likely to sell 3.1 pct equity via block, at Rs. 1,750-1,775/share.
- GTL Infra – Gets show cause notice from GST department for tax, penalty demand of Rs. 8.94 bn.
- UPL – Rating agency downgrades to Ba2, places ratings under review for further downgrade.
Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
