Markets rebounded on back of gains in large cap stocks while broader markets namely mid cap and small cap segment shown under performance. The gains were mainly seen from Nifty Service sector index and Reliance Industries, wherein Nifty Service sector index managed to end with gains after initial losses. Today being monthly closing, crucial level to watch in Sensex is 63,680 as it turns out to be support leg of rising wedge and breach would open gates for 49,300 in the near future.
Result Today – L&T, Bharti Airtel, Tata Consumer, Motherson sumi, Navin Flourine, GAIL.
Sensex 30 chart
Stocks to watch
Positive Read through
- Tata Motors – tribunal rules in favour of company in singur case, awards Rs. 7,660 mn + 11 pct Int
- TVS Motors – Margin at record high of 11.1 pct, largely in-line with estimates.
- Marico – EBITDA & profit above poll, domestic volume growth above estimates at 3 pct
- DLF – Highest-ever collections at Rs 23,590 mn, Sales up by 8.6 pct YoY.
- SRF – Expects single-digit growth in specialty chemicals segment in FY24.
- Spandana – AUM rises 69.2 pct YoY, GNPA ratio at 1.4 pct Vs 1.63 pct (QoQ).
- HI-Tech Pipes – Profit at Rs 105 mn Vs Rs 40 mn, Sales increased by 24.6 pct YoY.
- Blue Star – Sales up by 20 pct, EBITDA rises 43 pct YoY.
- Rainbow – Sales up by 6.3 pct, Margin remains stable at 35 pct YoY.
- Triveni Engg – EBITDA increased by 38.8 pct, Margin stood at 3.9 pct vs 3.1 pct YoY.
- LG Balakrishnan – Profit up 12.4 pct, Sales up by 3.8 pct YoY.
- PSP Projects – Gets work orders of Rs 2,002 mn.
- Nelcast – Profit came at Rs 166 mn vs Rs 121 mn, sales up at Rs 3580 mn vs Rs 3,290 cr YoY.
Negative Read through
- UPL – As per management Q3 will be a monitorable due to EL-NINO impact, Will Reduce Capex.
- Sterling Tools – Margin came at 12.1 pct VS 14.1 pct, EBITDA flat YoY.
- DCM Shriram – EBITDA decreased by 57.7 pct, Margin stood at 4.2 pct Vs 9.9 pct YoY.
- Colgate – Gets income tax liability notice of Rs 1,700 mn from I-T Dept.
- Speciality Rest – EBITDA Down by 23 pct, Margin stood at 16 pct Vs 22 pct YoY.
- Crompton – Public shareholders reject proposed merger of Butterfly with company.
- Gokaldas Exports – EBITDA decreased by 28.1 pct, margin at 9.4 pct vs 11.4 pct YoY.
- REL Infra – IDBI Bank moves NCLT, seeking payment of RS. 1334 mn from Mumbai Metro One.
- Ramco Systems – Loss at Rs 1458 mn vs Rs 468 mn, sales down by 9.1 pct (YoY).
- Fine Organics – Profit down by 49 pct at Rs 1030 mn, sales declined by 41 pct at Rs 5400 mn YoY.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
