Markets gapped higher on Monday and recouped entire losses of Friday to close at the highest point of the day. The one-bar reversal may have caught most call writers by surprise as a close above 18,250 is seen as a crucial beginning for the next 1000 pts up move in Nifty Index. After Monday’s closing, the spread between the Nifty 50- Nifty 500 index also points at a major breakout which may force a further shift in fund flows from the broader market to Nifty 50 stocks and may also act as a catalyst for Nifty’s journey towards 19,500.
Spread Nifty 50- Nifty 500 Index
Stocks to watch
Positive Read through
- MGL- Q4 EBIDTA up 52.2 pct QoQ, margin at 24.2 pct vs est of 20.4 pct
- Birlasoft- CC Revenue up 3.1 pct, dollar revenue rises 0.5 pct QoQ
- Kansai Nerolac- margin expands 420 bps YoY, bonus issues at 1:2
- VIP Inds- Gross margin expandsn460 bps, EBITDA up 97.3 pct YoY
- Sterling Tools- EBIDTA up 25.4 pct, revenue rises 25 pct YoY
- EasyTrip- Board approves potential acquisitions, incorporates Gen Insurance Arm
- Carborundum Universal- Board approves the potential acquisition, incorporates the Gen Ins arm
- HFCL- Q4 EBIDTA up 24.4 pct, margin expands 30 bps YoY
Negative Read through
- Pidilite- Q4 results below estimates, Cons business volumes up 7 pct vs expected 9-11 pct growth
- Aarti Inds- Q4 earnings largely below estimates, margin slips over 200 bps YoY
- Kalpataru Power- Margin slips 50 bps, EBIDTA up 9.9 pct YoY
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