Markets fell sharply yesterday following weak global market cues after Bank of Japan raised interest rates following which there were fears of Yen carry trade unwinding globally. India VIX was up sharply yesterday and closed near 20 levels. For Nifty, the crucial support was placed at 24,700 and below same, immediate reaction is expected towards 22,500.
Results Today – Bata India, Bluestar, BOSCH, Cummins, PFC, PI Ind, Tata Power, TVS Motors
Next Funds Nifty 50 Linked ETF
Stocks to watch
Positive Read through
- Bharti Airtel – Posted Q1 largely in-line, India Business mobile sales up 2.1 pct Marico – Bangladesh forms 44 pct of international sales & 12 pct of total sales.
- ONGC – Reported Q1 above estimates due to lower opex, margin up 250 bps QoQ Aurobindo – FDA classifies Eugia’s manufacturing unit II in Alwar as OAI.
- Biocon – Gets establishment inspection report with VAI for API unit, site 5 in Andhra Lupin – Show cause notice from Maharashtra GST body, seeks Rs. 6.72 bn tax & penalty.
- Tata Chem – Margin expanded 210 bps, EBITDA up 30 pct QoQ VIP Ind – Plant in Bangladesh, 30-35 pct of capacity sourced from Bangladesh.
- Deepak Nitrite – EBITDA jumped 47 pct, margin at 14.2 pct vs 11.9 pct YoY Jubilant Food – Has 28 stores in Bangladesh, roughly 1 pct of consolidated sales.
- Rites – MoU with HUDCO to collaborate for consultancy works Trent – Company’s top sourcing countries are Hong Kong, Thailand & Bangladesh.
- V-Mart – Posted profit vs loss, margin expands 500 bps YoY BEML – Sales growth below guidance, losses continue.
- Aarti Pharma – Sales grew 21 pct, EBITDA rose 14 pct YoY Bharti Hexa – Adjusted profit fell 13 pct, margin falls 120 bps QoQ.
- Schneider Elec – Margin up 380 bps, sales grew 20 pct YoY GSFC – EBITDA fell 22.8 pct, margin at 5.1 pct vs 6.9 pct YoY.
- Triveni Turbine – Margin up 180 bps, sales rose 23 pct YoY Aster DM – Nitish Shetty resigns as CEO of company.
- Motherson Sumi Wiring – Profit rose 21 pct, EBITDA up 15 pct YoY Monte Carlo – Sales fell 9 pct, margin slipped 110 bps YoY.
- BLS Int – Sales jumped 29 pct, margin at 27 pct vs 20.9 pct YoY HCC – Posted loss against profit, EBITDA fell 48.5 pct YoY.
- Brigade Ent – Reported Q1FY25 sales volume at 1.15 msf, EBITDA grew 67.3 pct YoY Syrma SGS – Margin slipped 230 bps YoY profit fell YoY.
- Angel One – July client base grew 4.3 pct, number of orders rose 2 pct MoM.
- Godrej Prop – Management is confident on meeting sales booking target of Rs. 270 bn in FY25.
Negative Read through
- Marico – Bangladesh forms 44 pct of international sales & 12 pct of total sales.
- Aurobindo – FDA classifies Eugia’s manufacturing unit II in Alwar as OAI.
- Lupin – Show cause notice from Maharashtra GST body, seeks Rs. 6.72 bn tax & penalty.
- VIP Ind – Plant in Bangladesh, 30-35 pct of capacity sourced from Bangladesh.
- Jubilant Food – Has 28 stores in Bangladesh, roughly 1 pct of consolidated sales.
- Trent – Company’s top sourcing countries are Hong Kong, Thailand & Bangladesh.
- BEML – Sales growth below guidance, losses continue.
- Bharti Hexa – Adjusted profit fell 13 pct, margin falls 120 bps QoQ.
- GSFC – EBITDA fell 22.8 pct, margin at 5.1 pct vs 6.9 pct YoY.
- Aster DM – Nitish Shetty resigns as CEO of company.
- Monte Carlo – Sales fell 9 pct, margin slipped 110 bps YoY.
- HCC – Posted loss against profit, EBITDA fell 48.5 pct YoY.
- Syrma SGS – Margin slipped 230 bps YoY profit fell YoY.
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