Markets managed to end higher on Tuesday to help Nifty close above 19800 after news emerged that Biden is visiting Israel to initiate peace with rest of Arab countries to de-escalate tensions. Markets are currently focussed on the Israel War and its impact on Brent crude prices. For India, rising Brent crude prices may start hurting badly as Russia has stopped accepting Rupees for settlement and has asked for Chinese Yuan for settlement. The Nifty 50 Total Return Inverse Index traded in NSE which is considers reverse return value of Nifty 50 is on verge of activating major breakout when plotted in Chinese Yuan terms and this would indicate Indian markets is vulnerable for 10% or more decline when Nifty 50 breaks below 19600.
Result Today – Bajaj Auto, Indusind Bank, LTI Mindtree, Persistent Systems, Polycab, Wipro, Zee Ent
Nifty 50 TR 1x Inverse Index
Stocks to watch
Positive Read through
- Oil Upstream Stocks: India lowers windfall tax on crude petroleum to Rs 9,050 per tonne.
- Lemon Tree Hotels: Company signs pact for – ‘Keys Select by Lemon Tree Hotels’ in Vadodara.
- Mazagon Dock: Co signs contract with Ministry of Defence for construction and delivery of Training Ship for Indian Coast Guard at a cost of Rs 310 cr.
- Mazagon Dock: Co signs contract with Ministry of Defence for construction and delivery of Training Ship for Indian Coast Guard at a cost of Rs 310 cr.
- LTTS: Net profit at Rs 315.4 cr Vs poll Rs 309.0 cr, Revenue Rs 2387.0 cr Vs Rs 2366.0 cr (QoQ).
- Torrent Group: SEBI exempts Torrent Pharma and Torrent Power founders from making open offer.
- Piramal Pharma: Co launches of a world-class high-throughput screening facility that augments the existing in-vitro biology capabilities.
- Bajaj Electricals: Co awarded a service contract by Power Grid Corporation of India, aggregating to Rs 347.29 cr.
- Zomato: IRCTC ties up with Zomato for delivery of preordered meals through IRCTC’s e-catering portal.
- Mahanagar Gas: Co signs JV with Baidyanath LNG for LNG biz.
- Tata Elxsi: Net profit up 5.9% at Rs 200 Cr Vs Rs 188.9 cr (QoQ), Revenue up 3.7% at Rs 881.7 cr Vs Rs 850.3 cr (QoQ).
- Exide Ind: Co invests Rs 100 cr in subsidiary Exide Energy Solutions on a rights basis.
Negative Read through
- ICICI Bank: The RBI has levied a Rs 12.19-crore penalty on ICICI Bank for contravening Section 20.
- Dabur: Reviewing tax notice, evaluating next steps after GST notice.
- Kotak Mahindra Bank: The RBI imposed a penalty of Rs 3.95 crore on Kotak Mahindra Bank for failing to adhere to central bank’s guidelines.
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