Market Morning Notes For 8th October 2024
Markets drifted further lower with Nifty declining below 24,800 led by selling in broad based market. With Brent crude rising beyond USD 80 a bbl amidst escalation of Israel -Iran crisis, the impact could be felt on operating margins of the corporates in coming quarters if the levels sustain at these levels. Overall, outlook suggest Nifty may trigger free fall below 24,700 with immediate target seen at 22,800.Nifty 50 ChartStocks to watchPositive Read throughBEL – Bags orders worth more than Rs. 5 bn since September 11.HEG – Acquires 8.23 pct stake in Graftech International for Rs. 2.48 bn.HDFC Bank – Board approves sale of 100 pct stake in HDFC Education to Vama Sundari for Rs 1.92 bn.Rites – Bags order worth USD 5.4 mn from Ntokoto Rail for diesel electric locomotives.Yes Bank – Receives Rs. 4.54 bn from two separate trusts of JC Flower ARC for NPA portfolio.MGL – Non-binding term sheet to invest Rs. 3.85 bn in JV International Battery Company for 40 pct stake.MOIL – September production up 15 pct MoM at 1.46 lk tonnes, sales at 1.59 lk tonnes.NYKAA – Q2 consolidated sales growth in mid- twenties, growth led by retail business.Oberoi Realty – Board meet on October 10 to consider fund raise.Nuvoco – Preferred bidder for 3 limestone blocks in Rajasthan, resources estimate at 28.43 MT.Negative Read throughΤata Motors – Q2 JLR wholesale numbers down nearly 10 pct YoY & QoQ.Ola Electric – Gets show cause notice from CCPA.Godrej Cons – Will miss target of mid-teens EBITDA growth due to tough operations conditions in India.Sobha – Q2 sales tumbled 27.5 pct, realizations decline 20.4 pct QoQ.Crompton – Supreme Court dismisses plea in trademark infringement case against V-guard.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. 2499/-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.
