Markets witnessed a late recovery to end in positive terrain above 19600 on Wednesday ahead of the RBI credit policy meeting. Although RBI is unlikely to raise rates further, the commentary would be a crucial factor for future rate hikes given the sudden surge in retail vegetable prices and breakout in Brent crude prices. The Dollex 30 i.e., Sensex in USD terms has already confirmed a lower low, which opens a case for a 7-8% correction in immediate terms. In Sensex terms, critical breakdown levels are placed at 65174 below which, which would confirm the start of impulse degree Wave 3.
S&P Dollex 30 ( i.e. Sensex in USD terms)
Stocks to watch
Positive Read Through
- ZEE ENT sales increased by 8 pct YoY, NCLT order in Zee- Sony merger case today
- Berger Paints gross margin came At 39.8 pct Vs 35.7 pct, EBITDA increased by 37.5 pct (YoY)
- PI Industries Q1 results beat estimates, margin stood at 24.5 pct Vs 22.4 pct (YoY)
- MAX FIN VNB margin at 22.2 pct Vs 21.1 pct, Axis Bank to raise stake in Max Life
- Tata Power EBITDA rises by 74.9 pct, margin came At 19.4 pct vs 11.6 pct (YoY)
- VARROC Engg posted profit Vs loss, EBITDA rises by 43.4 pct (YoY)
- SULA EBITDA increased by 20.4 pct, margin stood at 28 pct Vs 27.4 pct (YoY)
- JB Chem margin stood at 26 pct Vs 22 pct, EBITDA Increased 34 pct (YoY)
- Deep Fertilizers To Set up 3 Plants With 450 kt PA capacity at Dahej, Gujrat
- Schneider net profit rises 31.7 pct, sales Increased 33.3 pct YoY
- Abbott EBITDA Increased 31.4 pct, margin at 24 pct vs 20.7 pct (YoY)
- BLS Intl margin at 20.9 pct vs 11.5 pct, sales rises 40.6 pct (YoY)
- Force Motors net profit vs loss, sales rises 53.2 pct (YoY)
- FDC EBITDA Increased 68.2 pct, margin at 24.5 pct vs 15.8 pct (YoY)
Negative Read Through
- Granules IT related incident impacts Q1, margin at 14 pct vs 20.74 pct (YoY)
- IRCTC internet ticketing rev & margin declines, margin slips YoY
- Bata profit down 10 pct, ebtida slips YoY
- BSE sales declines 5 pct, margin at 53 pct vs 56 pct (QoQ)
- V-mart reports net loss vs profit, EBITDA down 40.9 pct (YoY)
- Voda-Idea seeks time till December Quarter to repay dues
- Suzlon launches QIP to raise up to Rs 20,000 mn, floor price at Rs 18.44/sh
- Visaka Ind EBITDA down 43.6 pct, margin at 8 pct vs 13.3 pct (YoY)
- KIOCL EBITDA loss expands, net loss of rs 58 cr vs rs 43.8 cr (YoY)
- Eclerx $ sales down 2 pct, cc sales slips 2.2 pct (QoQ)
- Bombay Dyeing losses expand, to delist GDRs from luxSe
- GMR power reports net loss vs profit, EBITDA Increased 11 pct (YoY)
- Sunteck EBITDA loss at Rs 75 mn vs EBITDA of Rs 452 mn YoY
- IOL Chem margin at 13 pct vs 16.2 pct, profit down 29 pct (QoQ)
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