Markets witnessed smart recovery led by PSU Bank and Oil & Gas stocks which helped recouped losses of over 1% and was followed with Sensex closing above 71,700. Asian markets are trading higher in early trade on Thursday as overnight recovery on Wall Street boosted sentiment. Nifty index rebound from an important support of 21,500 levels. With Sensex closing above 71700, we expect an immediate target of 73,000 in the coming days.
Sensex 30 Chart
Stocks to watch
Positive Read through
- HUL – In talks with the Andhra Pradesh government to collaborate on palm oil pdn.
- NMDC – Q3 volumes increased by 19 pct YoY, largely above estimates.
- Muthoot Fin – Gold AUM increased by 21.8 pct YoY, Q3 above estimates.
- Capacite Infra – Sales increased by 8.4 pct, profit rose by 29.3 pct YoY.
- Sun TV – Sales increased by 4.1 pct, profit rose by 6.8 pct YoY.
- Confidence Petro – EBITDA increased by 21.6 pct, margin at 15.1 pct vs 10.8 pct QoQ.
- Gateway Distri – EBITDA increased by 7.5 pct, sales rose by 15.2 pct YoY.
- Axiscades Tech – Posted profit vs loss, sales increased by 7.7 pct YoY.
- GSPL – EBITDA increased by 23.4 pct, margin at 17.9 pct vs 16 pct QoQ.
- Hinduja Global – EBITDA increased by 40.4 pct, margin at 9.6 pct vs 7.4 pct YoY.
- Gufic Bio – EBITDA increased by 9.3 pct, sales rose by 13.7 pct YoY.
- Genesys Intl – EBITDA increased by 58.8 pct, margin at 51.9 pct vs 35.7 pct YoY.
- BHEL – Bags order to set up an 800 MW ultra-supercritical thermal power plant in Haryana.
- Indigo – BOC Aviation enters into a finance lease transaction with InterGlobe Aviation.
- Utkarsh SFB – Board to meet to evaluate reverse merger with holding company.
Negative Read through
- Glenmark – EBITDA loss vs EBITDA, India business declines 75.6 pct YoY.
- Crompton Cons – Q3 below estimates, margin falls 100 bps YoY.
- AB Fashion – Posted loss vs profit, EBITDA increased by 27 pct YoY.
- Indiabulls HSG – AUM declined by 4.14 pct, disbursements slip 21.3 pct YoY.
- Gland Pharma – margin at 23 pct vs 30.9 pct, US sales grew QoQ.
- Paytm – Receiving notices from authorities including ED.
- Alembic – margin at 29.8 pct vs 34 pct, profit declined by 8.3 pct YoY.
- PTC India – EBITDA declined by 10.2 pct, margins at 8 pct vs 9.9 pct YoY.
- National Fert – EBITDA declined by 67.1 pct, margin at 4.2 pct vs 9.5 pct YoY.
- Dishman – EBITDA declined by 63.8 pct, margin at 6.3 pct vs 17.8 pct YoY.
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