Markets extended gains on Tuesday post formation of hammer pattern on Monday and with formation of small bullish candle. It is highly likely now that a major bottom is already in place. At present, Nifty 50 is showing signs of double retracement which could be an indication of major accumulation for a potential upside towards 23,500. On the optimistic side, the current upmove can also stretch beyond 24,000 if the election outcome comes in favour of the ruling party without any allies.
On a larger scale, global markets are showing signs of stability amidst lower energy prices, and it cannot be ruled out, that Nifty may cross 23,000 in month of May given prices are trading in oversold terrain and long positions in markets are turning extremely lighter.
Result Today – PFC, Dixon Technologies
Nifty50 Chart
Stocks to watch
Positive Read through
- Siemens – Profit at Rs 8.03 bn vs poll Rs 5.48 bn, Sales at Rs 57.50 bn vs poll of Rs 55.66 bn.
- Kirlos Bros – Profit at Rs. 1.42 bn vs Rs. 0.90 bn YoY, Sales grew 9 pct at Rs. 12.24 bn vs Rs. 11.24 bn YoY.
- Bharti Airtel – India mobile business in-line with estimates, adds 6.7 mn subscribers.
- Colgate – Margin at all-time high of 35.7 pct, gross margin up 240 bps.
- Shree Cement – Q4 above estimates, EBIDTA/tonne flat QoQ at Rs. 1,392.
- Apar Industries – Company has recommended a Final dividend of Rs. 51 per share.
- Oberoi Realty – EBIDTA up 7 pct YoY, to raise up to Rs. 20 bn via QIP.
- Bharti Hexa – Sales up 3.7 pct, margin at 48.9 pct vs 47.9 pct QoQ.
- Radico Khaitan – EBIDTA jumped 55.3 pct, margin at 11.4 pct vs 9.5 pct YoY.
- Patanjali Foods – EBIDTA up 13.6 pct, food & fmcg business sales growth at 50 pct YoY.
- Thyrocare – Margin at 22 pct vs 18.2 pct, EBIDTA rises 37.3 pct YoY.
- Dalmia Bharat Sugar – EBIDTA up 22.1 pct, margin at 25.6 pct vs 23.6 pct YoY.
- V-Mart Retail – EBIDTA increased by 75.5 pct, margins at 6 pct vs 3.9 pct YoY.
- Bosch, Indus, TWRS, Canara Bank – included in MSCI India Index.
- Infosys – In multi-year pact with UAE’s First Abu Dhabi Bank to optimize and modernize IT infra.
Negative Read through
- Cipla – Promoter group to sell up to 2.53 pct stake via block deals, as per report.
- Apollo Tyres – Q4 sales & margin below estimates, profit down 13.7 pct YoY.
- Paytm, IGL, Berger Paints – Excluded from MSCI India index.
- IOL Chem – EBIDTA declined 48.2 pct, margin declines more than 600 bps YoY.
- Man Infra – EBIDTA down 60.1 pct, margin at 16.7 pct vs 18.3 pct YoY.
- Butterfly – Posted loss vs profit, sales tumbled by 11 pct YoY.
- Speciality Restaurants – Margin at 14.5 pct vs 15.5 pct, sales down 9.9 pct YoY.
- DCM Nouvelle – A fire at one of the cotton warehouses of the Company at Hisar Plant.
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