Markets last week witnessed major battle between bulls and bears as Nifty 50 tested key support of 200-DMA but final tally saw Nifty ending with losses of more than 1.5%. The next leg of decline for markets may come from breakdown in Bank Nifty futures which has activated Head & Shoulder breakdown and is likely to decline immediately towards 46,000. For Nifty 50 Index, the selling is likely to extend towards 22,000 as market participants would be forced to liquidate their long positions after Nifty closes below 200 DMA placed at 23,526.
Results Today – Waaree Energies
Bank Nifty 50 Chart
Stocks to watch
Positive Read through
- Hero Moto – Q2 in-line to slight beat, double-digit growth in festive period.
- Brainbees – Posted EBITDA positive vs EBITDA loss, sales jumped 26 pct YoY.
- Glenmark Ph – EBITDA up 37.4 pct, margin expands 364 bps YoY.
- Sobha – Q2 average price realisation up 24 pct, sales rose 26 pct YoY.
- Prestige Est – acquires 22,135 sqm land in Mumbai next to WE Highway for Rs 2.92 bn.
- Avanti Feeds – EBITDA jumped 44.3 pct, margin at 10 pct vs 7.4 pct YoY.
- Muthoot Fin – Q2 earnings in-line, FY25 loan growth guidance raised to 25 pct.
- Aluminium STKS – China to withdraw export tax rebate for aluminium & copper products.
- Balaji Amines – EBITDA up 13 pct, margin at 17.5 pct vs 14.1 pct YoY.
- Delhivery – EBITDA turns profitable YoY, profit came at positive for 2 quarters in a row.
- Hind Zinc – Declared preferred bidder for gold mine block in Rajasthan.
- ΚPI Green – Board recommends bonus issue of 1 share for every 2 shares held.
- Lemon Tree – EBITDA jumped 25.6 pct, profit rose 32.6 pct YoY.
- Crompton – Margin expanded 90 bps, profit rose 27 pct YoY.
Negative Read through
- Honasa Cons – Reported EBITDA loss vs EBITDA YoY, MamaEarth growth slower than estimates.
- Grasim – Earnings miss estimates, higher losses in the new business.
- City Gas Companies – Gail informs of further reduction in gas allocation.
- Nazara Tech – EBITDA declined 7.7 pct, margin at 7.5 pct v 8.8 pct YoY.
- Swan Energy – EBITDA tumbled 53.2 pct, margin at 11.7 pct vs 21 pct YoY.
- Ahluwalia Contracts – EBITDA fell 18.6 pct, margin at 7.2 pct vs 10 pct YoY.
- Easy Trip – EBITDA dropped 42.8 pct, margin at 25.5 pct vs 45.6 pct YoY.
- Hinduja Global – EBITDA fell 65 pct, margin at 3.1 pct vs 8.3 pct YoY.
- Fusion Fin – GNPA at 9.41 pct vs 5.46 pct, AUM declined 5 pct QoQ.
- Shriram Props – Posted EBITDA loss vs EBITDA, sales declined 32 pct YoY.
- Anupam Rasayan – EBITDA & sales decline 25 pct YoY each.
- HOEC – EBITDA tumbled 52 pct, margin at 37 pct vs 64 pct YoY.
- Reliance Power – SECI weighs criminal action over fake documents.
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