The Nifty ended 0.56 pct down at 22147.90 in the previous session, however the broader market remained somewhat resilient. It opened on a weaker note followed by choppy moves towards ending in red. The Nifty could take support around 22,000 levels. Further, bullish momentum likely to continue as long as pivotal support placed around Nifty 22000 remains intact. Immediate resistance is placed around 22500 levels.
Result Today – Bajaj Auto, HDFC Life, Infosys
Nifty 50 Chart
Positive Read Through
- DreamFolks – Formed strategic partnership with RedBeryl to offer ultra-luxury experiences to customers.
- ICICI Lombard – Net earned premium rose by 17 pct, underwriting loss down 7.50 pct YoY.
- Biocon – Signs exclusive license & supply agreement for generic ozempic with biomm SA for Brazil.
- Ambuja- Adani family completes warrant subscription, infuses additional Rs. 83.39 bn.
- Piramal Pharma – US FDA issues EIR for Riverview manufacturing facility.
- Paytm – 4 banks now operational on TPAP, transition to start from @Paytm.
- Jubilant Ph – Arm closes manufacturing operations of formulation unit in Maryland, US.
- Brigade Ent – Posts highest-ever quarterly sales in Q4, pre-sales gone up by 53 pct YoY.
- Sunteck Realty – Q4 pre-sales grew 26 pct, collections declined by 32 pct YoY.
- Angel One – Q4 sales increased by 28 pct, margin rises 147 bps QoQ.
- IIFL Fin – Board approves fund raise of up to Rs. 12.71 bn via rights issue.
- Just Dial – Sales jumps 16.3 pct, margin expands to a 4 year high of 26.10 pct.
- Hindustan Aero – Request for proposal (RFP) has been issued in April 2024 for 97 Tejas Fighter Jets.
- Infosys – Company partners Belgium’s Proximus on Service Now platform.
- Jindal Stainless – Announces collaboration with global climate action body Science-Based Targets.
- Shilpa Med – Ages, Austria Issues GMP Certification for Shilpa Medicare’s Unit 4, Jadcherla, Telangana.
Negative Read Through
- Tata Communication – Margin declines 160 bps QoQ, profit declined by 1.50 pct YoY.
- KIMS – Arm SPANV gets tax demand notice of Rs. 3.07 bn for pre subsidiary period.
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