Markets for the week began on a positive note with Nifty 50 gaining over 0.7% while Nifty Bank remained laggard as gains were mainly contributed from Reliance Industries and Auto sector. With India VIX trading below 11.6 mark, markets are on a verge of a major upmove which is most likely to be lead from Nifty Bank in the coming days. Only trigger which can derail the current momentum could come from brent crude prices crossing above USD 95 a bbl and simultaneously USDJPY falling below 147 mark. At present, the conditions are set for Nifty 50 surge towards 23,500 and Bank Nifty towards 54,000.
Nifty Bank Chart
Stocks to watch
Positive Read through
- NTPC – Company is eying 5 GW power generation capacity addition in FY25.
- ICICI Lombard – Company recorded 18 pct YoY growth for March premium.
- Sobha – Launches Crystal Meadows, a 26-acre row house project in Bengaluru starting at Rs. 105 mn.
- Dilip Buildcon – Gets Rs 10.92 bn order from Haryana RailI on EPC mode.
- Axis bank – Bain capital likely to exit, may sell 33.4 mn shares via blocks.
- Tata Motors – JLR Q4 wholesales up by 16 pct, retail sales soars 11 pct YoY.
- Godrej Prop – Q4 bookings up by 135 pct YoY, FY24 bookings 61 pct above guidance.
- Dixon Tech – To acquire 50.1 pct stake in Ismartu India in tranches.
- Sula vineyards – Q4 net sales grew 10 pct, wine tourism up 31 pct YoY.
- Anand Rathi Wealth – To consider share buyback on April 12.
- IRB Infra – March toll revenue increased 30 pct YoY, expects strong FY25.
- Star Health – March premium up 18 pct, Q4 premium increased by 18 pct YoY.
- NCL Industries – Q4 cement production & dispatches up by 4 pct YoY.
- Uco Bank – Q4 deposits up 5.6 pct YoY & 3.7 pct QoQ, advances up 15 pct YoY.
Negative Read through
- Shilpa Medicare – Board approves opening of the QIP, floor price at Rs. 477.33/share.
- Gland Pharma – Nicomac Machinery & RP Advisory Services likely to sell up to 4.4 pct equity stake.
- STL – QIP is launched, indicative price at 11 pct discount to current market price.
- New India Assurance – March premium remains flat, Q4 premium increased by 2 pct 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.
