Market Morning Notes For 23rd October 2024
Nifty broke below its 3-day range as well as from the head and shoulder pattern on daily charts. Targets for this pattern stand at 24225 / 23850 on the downside in the near term. Selling pressure was seen all through yesterday’s trading session with midcap and small cap indices seeing deeper cuts. Overall, the outlook remains cautious with near term target seen at 22,800.Result Today – HUL, TVS Motors, KPIT Tech, United SpiritsNifty 50 Chart Stocks to watchPositive Read throughPaytm – Receives approval from NPCI to onboard new UPI users.LTIMindtree- Launches AI-Smart underwriter solution powered by ServiceNow.IDBI Bank – The disinvestment of Bank is gaining pace, as financial bids for the bank could be called by March.RITES – Gets order received worth Rs 4.54 bn, July 2023 order converted into turnkey basis.Triveni Eng – Forayed into IMFL segment; launched premium and super premium whisky brands Matsya triple reserve blended whisky.Firstsource – To build domain-centric large language model for the U.S mortgage business.NBCC – Arm bags order worth Rs. 13.22 bn from ESIC, Government of India.NMDC – Increases lump ore & fines prices by up to Rs. 600/Tonne.Amber Ent – Posted Profit of Rs 210 mn vs loss Rs 60 mn, sales grew 82 pct YoY at Rs 16.84 bn.Rice Exporters – Government removes export tax on parboiled rice.Persistent – Posted CC sales growth at 5 pct vs estimates of 4.3 pct, EBIT margin at 14 pct.Indus Towers – Margin Rises 410 bps YoY aided by VI receivables.Power Grid – Successful bidder for inter-state transmission system in Rajathan.Zomato – To raise up to Rs. 85 bn via QIP, reports healthy results for Q2.Negative Read throughBajaj Fin – FY25 credit cost guidance raised tο 2.05 pct from 1.75-1.85 pct.M&M Fin – FY25 RoA target cut to 1.8-2 pct from 2.5 pct earlier.ICICI Pru – Misses estimates on VNB & margin, VNB at Rs. 5.86 bn vs estimates of Rs. 7.58 bn.Adani Green – Sales rose 38 pct, margin slipped 430 bps YoY to 72.7 pct.Gabriel – Sales up 9 pct, margin unchanged at 9.6 pct QoQ.Shoppers Stop – Muted demand in July & Aug drags earnings, Q2 loss at Rs. 210 mn.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.
