Markets last week triggered a breakaway gap on the back of unwinding emerging from the yen carry trade, with Nifty finally settling with losses of 1.5%. With Hindenburg putting an allegation on Sebi chief in involvement in Adani offshore funds, we expect markets to remain under pressure as global agencies would raise questions over governance issue in regulatory body. For Nifty, crucial support is seen at 24,100, below which Nifty expects to decline to 22,500.
Results Today – Voltas, Hindustan Copper
Nifty 50 Chart
Stocks to watch
Positive Read through
- Jubilant Food – Like for like growth at 3 pct, posted Q1 largely in line with estimates.
- Mazagon – Won Rs. 46.76 bn EPC contract from ONGC Suven Pharma – EBITDA dropped 52 pct, margin at 34.6 pct vs 48.3 pct YoY.
- Honasa Cons – EBITDA up 8 pct, margin improves 200 bps YoY Bajaj cons – EBITDA fell 23.6 pct, margin at 14.9 pct vs 17.7 pct YoY.
- Metropolis Health – Reported Q1 in-line to slightly above estimates, EBITDA jumped 25.8 pct YoY Siemens – Q3SY24 below estimates, mobility business margin slipped 381 bps YoY.
- Aavas Fin – CVC Cap to acquire controlling stake at Rs. 1,635 per share, makes open offer Aurobindo – Q1 miss estimates, US sales declined QoQ.
- Godrej Props – Acquires 90 acres of land in Khalapur, Maharashtra, potential at 1.7 msf CESC – EBITDA slipped 48.8 pct, margin at 7.6 pct vs 16.8 pct YoY.
- Anup Engg – Bags order worth over Rs. 1 bn for a project in UAE Balkrishna Ind – Q1 in-line, commentary weak for FY25.
- Cello World – EBITDA up 8.5 pct, sales grew 6.1 pct YoY Metro Brands – EBITDA declined 3.3 pct, margin at 31.3 pct vs 32 pct YoY.
- ONGC – Gets government nod to invest up to Rs. 105.01 bn in ONGC Petro Additions (OPAL) Sun TV – EBITDA down 9.9 pct, margin at 54.8 pct vs 59.1 pct YoY.
- Aarti Ind – EBITDA jumped 53 pct, margin at 16.5 pct vs 14.1 pct YoY Tata Tech – Chhattisgarh government terminates MoA for upgrading 36 ITIs.
- Atul – Arm gets EIR from USFDA for its manufacturing facility at Ambernath STL – US court rules against co in Prysmian Cables case, claims USD 96.5 mn.
- CE Info – Sales increased 13.5 pct, profit grew 11 pct YoY Dredging Corp – EBITDA tumbled 45.2 pct, losses expand YoY.
- Inox Wind – Sales registered uptick of 83.2 pct, posted profit vs loss YoY IOL Chem – EBITDA down 29.5 pct, margin at 10.2 pct vs 12.9 pct YoY.
- Kirloskar Ferrous – EBITDA up 13 pct, margin at 12 pct vs 10.8 pct YoY Star Cement – EBITDA fell 10.2 pct, margin at 15.5 pct vs 17 pct YoY.
- Amara Raja – MoU with Piaggio Vehicles Supply lithium-ion cells & chargers for EVs Midhani – EBITDA dropped 43.9 pct, margin at 14.3 pct vs 22.1 pct YoY.
- Fineotex Chem – EBITDA up 11.7 pct, margin a t 24.8 pct vs 23.8 pct YoY Mastek – CEO Hiral Chandrana resigns from the company.
Negative Read through
- Bharat Dynamics – Sales tumbled 36 pct, EBITDA losses expand.
- Suven Pharma – EBITDA dropped 52 pct, margin at 34.6 pct vs 48.3 pct YoY.
- Bajaj cons – EBITDA fell 23.6 pct, margin at 14.9 pct vs 17.7 pct YoY.
- Siemens – Q3SY24 below estimates, mobility business margin slipped 381 bps YoY.
- Aurobindo – Q1 miss estimates, US sales declined QoQ.
- CESC – EBITDA slipped 48.8 pct, margin at 7.6 pct vs 16.8 pct YoY.
- Balkrishna Ind – Q1 in-line, commentary weak for FY25.
- Metro Brands – EBITDA declined 3.3 pct, margin at 31.3 pct vs 32 pct YoY.
- Sun TV – EBITDA down 9.9 pct, margin at 54.8 pct vs 59.1 pct YoY.
- Tata Tech – Chhattisgarh government terminates MoA for upgrading 36 ITIs.
- STL – US court rules against co in Prysmian Cables case, claims USD 96.5 mn.
- Dredging Corp – EBITDA tumbled 45.2 pct, losses expand YoY.
- IOL Chem – EBITDA down 29.5 pct, margin at 10.2 pct vs 12.9 pct YoY.
- Star Cement – EBITDA fell 10.2 pct, margin at 15.5 pct vs 17 pct YoY.
- Midhani – EBITDA dropped 43.9 pct, margin at 14.3 pct vs 22.1 pct YoY.
- Mastek – CEO Hiral Chandrana resigns from the company.
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