Markets for the week recouped earlier losses to finally end in the positive terrain with Sensex rising by 1 pct on back of Friday’s gains coming from technology Index. The gains on Friday were mainly attributed by IT sector which was up 5 pct while the Midcap and Smallcap index underperformed. The Sensex on weekly chart has formed hanging man which signifies trend reversal provided current weekly closing occurs with a cut of 2% or more. On the upside, we expect momentum to accelerate on a move above 72,800, as breach of rising resistance line will open further upside scope towards 74,000 in Sensex. Geopolitical risk remains with the US attacking Yemen which could lead to escalation of middle-east crisis. Further signal may emerge when India VIX closes above 14 mark.
Results Today – Jio Fin
Sensex 30 Chart
Stocks to watch
Positive Read through
- HCL Tech – Sales & margin beat estimates, CC sales up by 6 pct QoQ vs poll of 4 pct.
- Wipro – Beats muted estimates, CC sales down by 1.7 pct vs poll of 2.7 pct decline.
- Vatech Wabag – Semiconductor & Green Hydrogen will being 15-20 pct to order volume.
- Tata Consumer – To acquire Capital Foods for Rs. 51 bn & Organic India for Rs. 19 bn.
- Bhel – LoA for NLC’s 3×800 MW NLC Thermal Power Project of over Rs. 150 bn.
- Reliance Ind – Jio one of the bidders for Sri Lanka Telecom Plc.
- Emudhra – Fund raise approved, indicative price is Rs. 422/share as per report.
- Anand Rathi Wealth – Private wealth Aum increased by 15 pct QoQ, net flows up 41 pct yoy.
- Avenue Supermarts – Earnings in-line, sales increased by 17 pct, EBITDA up by 16 pct YoY.
- Just Dial – Margin expands 410 bps QoQ & 1,060 bps YoY.
- Anant Raj – To raise up to Rs. 5000 mn via QIP, indicative price at 9.5 pct disc to cmp.
- DB Realty – Board to consider fund raising on 17 January 2024.
- Lupin – Gets US FDA ANDA nod for Propranolol Hydrochloride extended-release capsules USP.
- Tata Motors – Commences production at its new production facility at Sanand in Gujarat.
- Ajmera Realty – Sales bookings nearly doubles to Rs 2.53 bn in the Q3 on better housing demand.
Negative Read through
- LIC – Income Tax demand worth of Rs. 13,710 mn from I-T authorities Mumbai.
- Alkem – Cyber security incident resulted in a fraudulent transfer of Rs. 520 mn fund.
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