Nifty traded in less than half a percent band on its weekly expiry session yesterday before ending bit higher above the 25k mark. Global markets have panicked since last night as tensions have escalated further between Isreal and Hezbollah after the former killed top Hezbollah commander in retaliation. So Asian markets in red today. We expect market to remain under pressure and expect Nifty to trigger major breakdown on close below 24,700.
Results Today – Titan, Britannia, Kirloskar Brothers
Nifty 50 Chart
Stocks to watch
Positive Read through
- Tata motors – Q1 above estimates, margin up 170 bps YoY, JLR business guidance retained Maruti – July sales below estimates, total domestic sales fell 5.3 pct.
- ITC – Cigarette business volume growth in-line with estimates, Agri business sales up 22.2 pct YoY Eicher – Royal Enfield sales fell 8 pct YoY, below estimates.
- Kalyan Jewellers – Q1 same-store-sales growth at 10 pct, results in- line with estimates Hero Moto – Total sales below Nomura’s estimates, fell 5.4 pct YoY.
- Godrej Agro – EBITDA up 17.2 pct, margin at 9.6 pct vs 7.7 pct YoY Sun Pharma – To oppose motion Preventing LEQSELVI us launch, timeline uncertain.
- Zomato – Food business GOV to compound at 30 pct hereon, Blinkit GOV jumped 130 pct YoY Netweb Tech – Lodha family to sell 3.4 pct stake via block, floor price Rs. 2,180/share, as per reports.
- Indegene – Sales grew 11.4 pct, margin at 19.1 pct vs 16 pct YoY Somany – EBITDA fell 3.2 pct, profit declines 15.8 pct YoY.
- PVR Inox – Opens 9 screen multiplex at phoenix palladium mall in Ahmedabad Repco Home – Sanctions fell 25.6 pct, disbursements decline 23.9 pct QoQ.
- SJS Ent – EBITDA grew 74.7 pct, margin at 26 pct vs 24 pct YoY Prataap Snacks – EBITDA fell 8.2 pct, margin at 7.1 pct vs 8.5 pct YoY.
- Railtel Corp – EBITDA increased 14.8 pct, net profit rose 25.2 pct YoY Triveni Engg – EBITDA fell 8.2 pct, margin at 7.1 pct vs 8.5 pct YoY.
- Paradeep – Net profit vs loss, EBITDA vs EBITDA loss YoY GR Infra – EBITDA fell 8.2 pct, margin at 7.1 pct vs 8.5 pct YoY.
- Allcargo Terminals – EBITDA grew 7.9 pct, sales rose 5.7 pct YoY Credit Access – S Balakrishna Kamath resigns as CFO of company.
- Suryoday SFB – Asset Quality improves QoQ NII jumped 39.9 pct YoY Morepan – QIP launched, indicative price at Rs. 54.37/share, at a discount of 9.2 pct to CMP.
- Lemon Tree – Signs licence agreement for 82-room hotel in Gujarat Spice Jet – Flights from Dubai to India Cancelled on July 31 over unpaid dues.
- MOIL – Company achieves record turnover and sales in Q1.
Negative Read through
- Maruti – July sales below estimates, total domestic sales fell 5.3 pct.
- Eicher – Royal Enfield sales fell 8 pct YoY, below estimates.
- Hero Moto – Total sales below Nomura’s estimates, fell 5.4 pct YoY.
- Sun Pharma – To oppose motion Preventing LEQSELVI us launch, timeline uncertain.
- Netweb Tech – Lodha family to sell 3.4 pct stake via block, floor price Rs. 2,180/share, as per reports.
- Somany – EBITDA fell 3.2 pct, profit declines 15.8 pct YoY.
- Repco Home – Sanctions fell 25.6 pct, disbursements decline 23.9 pct QoQ.
- Prataap Snacks – EBITDA fell 8.2 pct, margin at 7.1 pct vs 8.5 pct YoY.
- Triveni Engg – EBITDA fell 8.2 pct, margin at 7.1 pct vs 8.5 pct YoY.
- GR Infra – EBITDA fell 8.2 pct, margin at 7.1 pct vs 8.5 pct YoY.
- Credit Access – S Balakrishna Kamath resigns as CFO of company.
- Morepan – QIP launched, indicative price at Rs. 54.37/share, at a discount of 9.2 pct to CMP.
- Spice Jet – Flights from Dubai to India Cancelled on July 31 over unpaid dues.
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