Markets formed small doji with inside bar on Tuesday after prices ended on a flat note after initial attempt to cross 25,000 mark in Nifty. With Bank of Japan raising interest rates by 25 bps, it is likely to trigger major appreciation in JPYINR in the near term with potential upside seen 7-9%. From Indian markets perspective, rising Japanese yen could trigger negative impact for Nifty with potential downside seen 14-18%. The crucial support for Nifty is seen at 24,700 before a larger slide in Indian markets should resume.
Results Today – M&M, Maruti Suzuki, Tata Steel, Bank of Baroda, BHEL, ZEE
Nifty 50 Chart
Stocks to watch
Positive Read through
- Infosys – Collaborates with TDC Net to accelerate digital transformation Hind Zinc – Gets tax demand order of Rs. 11.70 bn for AY2020-21
- Vedanta – Gets nod from 75 pct secured creditors for demerger scheme Marico – Gets tax demand order of Rs. 1.42 bn for AY2020-21
- Tata Cons – Sales & EBITDA largely in- line, India beverage business grew 6 pct YoY Adani Energy – To raise up to Rs. 83.73 bn via QIP at Rs. 976/share
- Jindal Stainless – EBITDA up 2 pct, margin at 12.8 pct vs 11.7 pct YoY Navin Fluorine – EBITDA fell 12 pct, margin at 19.2 pct vs 23.3 pct YoY
- Dixon Tech – Posted Q1 above estimates, mobile & EMS business sales jumped 68 pct QoQ Titagarh Rail – EBITDA slipped 4.1 pct, margin declines 50 bps YoY
- TVS Supply – Posted profit vs loss, EBITDA up 6.7 pct YoY Star Health – Underwriting profit down 4 pct, net earned premium up 16 pct YoY
- Moil – EBITDA jumped 72 pct, margin at 43.4 pct vs 32.7 pct YoY RR Kabel – Margin at 5.3 pct vs 7.1 pct, profit declined 14 pct YoY
- Torrent Power – EBITDA climbed 56.8 pct, margin at 20.6 pct vs 16.2 pct YoY PTC Ind – EBITDA tumbled 49.2 pct, margin at 21.3 pct vs 27.6 pct YoY
- Indus Towers – Margin expands 460 bps, Board nod to buy back shares up to Rs. 26.40 bn South Indian Bank – Slippages grew 19.9 pct, NIM at 3.26 pct vs 3.38 pct QoQ
- Gail – Posted Q1 above estimates, EBITDA grew 27 pct QoQ
- Emudhra – Sales rose 15.9 pct, profit grew 14.8 pct YoY
- Zaggle – Margin at 8.9 pct vs 6.8 pct, EBITDA at Rs. 224 mn vs Rs. 80 mn YoY
- Castrol – Q2 EBITDA up 4.1 pct, sales grew 4.8 pct YoY
- Johnson-Hitachi – Sales up 75.6 pct, posted profit vs loss YoY
- Aegis Logistics – EBITDA grew 18.5 pct, margin at 14.5 pct vs 9.3 pct YoY
Negative Read through
- Hind Zinc – Gets tax demand order of Rs. 11.70 bn for AY2020-21.
- Marico – Gets tax demand order of Rs. 1.42 bn for AY2020-21.
- Adani Energy – To raise up to Rs. 83.73 bn via QIP at Rs. 976/share.
- Navin Fluorine – EBITDA fell 12 pct, margin at 19.2 pct vs 23.3 pct YoY.
- Titagarh Rail – EBITDA slipped 4.1 pct, margin declines 50 bps YoY.
- Star Health – Underwriting profit down 4 pct, net earned premium up 16 pct YoY.
- RR Kabel – Margin at 5.3 pct vs 7.1 pct, profit declined 14 pct YoY.
- PTC Ind – EBITDA tumbled 49.2 pct, margin at 21.3 pct vs 27.6 pct YoY.
- South Indian Bank – Slippages grew 19.9 pct, NIM at 3.26 pct vs 3.38 pct QoQ.
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