Market activity remained range bound on Tuesday but Nifty managed to stay afloat above the breakaway gap support which was placed at 18,508. The next leg of breakout may be witnessed above 18,750 in Nifty futures with the short-term target placed at 19,000. In today’s trading session, we can expect lower opening but buying support is expected to emerge around 18,580.
Nifty 50
Stocks to watch
Positive Read through
- Coal India hikes non coking coal prices by 8 pct, incremental revenue at Rs 2703 cr.
- Sun Pharma receives China regulator nod for Tildrakizumab injections.
- Adani Ports- EBITDA rises 59 pct, margin up more than 600 bps YoY.
- HDFC Life- Abrdn to sell entire 1.66 pct stake, offer price at 3.75 pct discount accor to reports.
- Torrent Pharma- Net profit at Rs 287 cr vs loss, margin rises nearly 300 bps YoY
- Prestige Estates- FY23 total sales up 25 pct, collections rise 31 pct YoY
- Poonawala Fin- RBI approves stake divestment in Poonawala Housing Finance to TPG
- Lemon Tree Hotels- Reports highest ever quarterly revenue, EBITDA and Profit
- Mazagon Dock- Revenue rises 49 pct, margin at 10.1 pct vs 5.5 pct YoY
- Mankind Pharma- EBITDA rises 46.3 pct, margin at 20.3 pct vs 16.5 pct YoY
Negative Read through
- Vedanta- Reports say Foxconn bid for India chip funding may be rejected.
- Allcargo- Ocean Freight yields down 30 pct, EBITDA slips 63.4 pct YoY
- Sona BLW- Promoter may sell up to 3.25 pct, floor price at Rs 500 a sh accor to reports
- Patanjali Foods- EBITDA down 20 pct, edible oil margin at 19.2 pct vs 4.8 pct YoY
- Indian Metals- EBITDA slips 25.1 pct, margin at 20.4 pct cs 22.9 pct YoY
- KRBL- EBITDA down 11.5 pct, margin at 11.2 pct vs 16.5 pct YoY
- DB Realty- EBITDA loss at Rs 44.4 cr vs Profit, revenue down 70.2 pct YoY
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